Texas named best state for business 21 years running in Chief Executive magazine ranking
Chief Executive magazine has ranked Texas as the best state for business for the 21st year in a row.
The ranking is determined from an annual survey of the nation's leading CEOs. Florida and Tennessee followed Texas respectively, with California ranking last.
'Texas is where entrepreneurs can cast a vision and know they can achieve it," Gov. Greg Abbott said in a Monday announcement. "The successful CEOs I meet with credit our business-friendly climate, highly skilled and diverse workforce and exceptional quality of life across every region of our great state as Texas' top advantages. We will continue to cut red tape and partner with job-creating businesses and innovators to build a stronger, more prosperous Texas for decades to come."
Along with topping business ranking lists, Texas has also been leading the nation in job growth over the past several months. In March, Texas saw a new high with the largest labor force in the state's history at 15,778,500, according to data from the U.S. Bureau of Labor Statistics and the Texas Workforce Commission.
Texas' economy also outpaced the nation in the fourth quarter of 2024. Texas' real gross domestic product (GDP) grew at an annual rate of 3.5% in the fourth quarter of 2024, compared to the U.S. average of 2.4%. GDP represents the total value of all goods and services produced within the state over a specific period.
Last week, Abbott signed Senate Bill 14, known as Texas DOGE, into law. The bill created the Texas Regulatory Efficiency Office, building on recommendations from the Governor's Small Business Freedom Council to cut regulations and make stricter standards on new regulations.
This article originally appeared on Austin American-Statesman: Texas once again ranked best for business by Chief Executive magazine
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