That's why the Lone Star State has led the nation's population growth over the past 15 years and remains one of the top states. Business climate · Target industry groups · Infrastructure · Workforce. Skilled, growing workforce with low taxes and competitive incentives, everything is bigger and better in Texas. If the opening sentence didn't warn you yet, Texas earned first place as the best overall state to start a business.
The methodology for the report examined the conditions that make business creation ideal. Some of these factors were access to capital, available talent in the workforce, and affordable office space. Texas narrowly outperformed Utah with a total score of 61.05 and earned a No. There was a time, not long ago, when many entrepreneurs flocked mainly to Delaware and Nevada to do business.
Delaware has a reputation as “the corporate capital of the world due to its business-friendly corporate tax laws. These laws have allowed the state to become the legal home of more than 1 million business entities. Nevada also has a reputation as a tax haven, as the state has no corporate or personal income taxes. Below are six reasons why I think Texas trumps every other United States.
Texas' manufacturing sector continues to expand Texas is also known as the nation's top exporting state, responsible for nearly 20 percent of the total U.S. UU. According to the Dallas Fed, Texas exports increased sharply in July and increased 16 percent so far this year, or about three times faster than U.S. exports, which increased 5.2 percent in the same period.
Much of the growth in the Lone Star state is due to its monstrous oil and gas industry, which exported more crude oil than it first imported in April, according to an August report from the U.S. In the US, Texas is the top exporting state in the U.S. As one of only four states without a corporate income tax, Texans enjoyed the fastest personal income growth this year between the first and second quarters. According to the Bureau of Economic Analysis (BEA), revenues increased a whopping 6 percent in the June quarter, compared to 4.2 percent for Americans on average.
This was the best rate among the 50 states. The increase in profits was led by professional, scientific and technical services. Texas ranks first in revenue growth Texas now accounts for more than 40 percent of U.S. oil production.
Four of the 10 cities in the U.S. Fastest Growing U.S. States Are in Texas More Residents Means More Demand for Housing. The Lone Star State avoided the housing price bubble a decade ago, according to the Dallas Federal Reserve.
As such, housing markets are currently tight in most parts of the state, and average prices remain close to all-time highs. The Texas A%26M University Real Estate Center reports sales grew 3.8 percent in July, reaching a record level of 29,456 homes sold through a multiple listing service (MLS). In addition, Texas was the national leader in housing permits, accounting for 16 percent of the U.S. Texas home sales have surpassed those in the United States.
The historic venture capital gap is closing. Texas is capitalizing on synergies in several emerging technology centers.