Texas recently ranked number one on Chief Executive magazine’s best states for business for the tenth year in a row.
Chief Executive determines its rankings by surveying over 500 CEOs across the U.S. Business leaders were asked to grade states based on several categories including tax climates, regulations and red tape, and quality of living. The magazine mentioned that public education, health, and cost of living were also asked to be considered, given that such factors can impact the quality of an overall workforce.
It is easy to surmise why Texas has continued to rank number one on the list. Pro-business policies, low taxes, and predictable regulation have made Texas an ideal state to start and grow businesses in.
All signs indicate Texas is out-shining other U.S. states in terms of economic growth and that this trend will continue. As Breitbart Texas reported, Texas Comptroller Susan Combs recently said, “Job growth, sales tax collections and building permits all signal that the Texas economy continues to outpace the national economy.”
Vance Ginn, an economist at the Texas Public Policy Foundation, told Breitbart Texas, “It really seems to be that the less government intervention there is, the more likely businesses are to grow and the entrepreneurial spirit is to thrive. What we’ve seen is that the Texas model of low taxes, modest government spending, and stable regulations provides a business-friendly environment that gives incentives for businesses to move to the state.”
The healthy economy is causing a record number of businesses to pack up and move to Texas.
Statistics released by the federal government show that America’s biggest cities are losing people to “second-tier” cities. Four Texas cities are in the top ten fastest-growing large metros: Austin (which ranked number one), San Antonio, Houston, and Dallas.
Following Texas on Chief Executive’s recent rankings was Florida, a state that has implemented many of the same business-friendly policies as the Lone Star State. Tennessee, North Carolina, and South Carolina also made the top five.
The top five worst states for business, according to the survey, are California, New York, Illinois, New Jersey, and Massachusetts. These states are generally ridden with liberal policies, which some CEOs complain are anti-business.
Texas governor Rick Perry has made numerous efforts to reach out to businesses in blue states to tout “Texas’ message of low taxes, smart regulations, and job creation.” Breitbart Texas reported on Perry’s recent trip to New York City, during which he gave various business leaders a taste of Texas economics and their positive effects on companies.
Follow Kristin Tate on Twitter @KristinBTate.