Texas named State of the Year by business publication
Texas has been named Business Facilities‘ 2016 State of the Year. The Lone Star State joins Tennessee as one of only two states to win the magazine’s top honor three times since it was created in 2007.There is a reason why companies are moving their business to Texas and people from states like California, Illinois, and New York find it a more friendly environment that provides them with a higher standard of living. Texas is also the leading export state and it is not limited to oil and gas products.
Texas lassoed in five top projects that created nearly 6,000 new jobs from a diverse mix of growth sectors, including facilities for Charles Schwab, Amazon, Lockheed Martin and two top pharma players. In addition to multi-billion-dollar investments in petrochemical expansions, the top five for capex in TX included $2.2 billion in spending commitments from Samsung and Lockheed Martin.
“Texas is a perennial contender for our State of the Year award, but in 2016 Texas blew away the competition,” BF Editor in Chief Jack Rogers said. “Already a leader in semiconductors, a top-tier data-center hub, a burgeoning aerospace giant and home to the nation’s largest wind-power grid, the Lone Star State continues to maximize its advantages to expand the most dynamic state economy in the U.S.”
In addition to the 2016 award, Texas snared BF‘s inaugural State of the Year honor in 2007; TX also won the top BF honor in 2012.
Texas dominated BF’s 2016 State Rankings Report, published in the magazine’s July/August issue. Texas notched the best across-the-board results in the annual rankings competition, making the top 10 in a record-shattering 18 out of 24 State Rankings categories. TX was our top-ranked state in four categories (Best Infrastructure, Exports Leaders, Installed Wind Power Capacity and Wind Power Expansion Leaders) and finished in the top three in 10 categories.