At a time when our state is still reeling from a natural disaster, some have opportunistically sought to take a political swing at the Lone Star State in an effort to lure businesses back to high-tax, high-regulation states from which people and businesses have fled in droves in recent years, including from Illinois.
However, when it comes to business climates, it strains the imagination to even compare Illinois to Texas. Texas consistently ranks at the top for business growth, job creation, and economic opportunity, and it's not just by chance. Our unparalleled pro-business policies, low taxes, and a regulatory environment that encourages innovation are unmatched nationwide and have attracted companies from all over the world. In fact, a brand new report by the U.S. Bureau of Economic Analysis shows Texas as one of the top destinations for foreign direct investment, particularly in the manufacturing industry.
There is no shortage of examples that underscore the Lone Star State's success. Texas has maintained a balanced budget every year for over two decades, showcasing our state leaders’ fiscal responsibility. This has resulted in a significant budget surplus—nearly $20 billion as of the latest projections—enabling us to make strategic investments that will continue to ensure a higher quality of life for all who call Texas home now and in the future.
Furthermore, Texas is renowned as the "Energy Capital of the World" for good reason. Our all-of-the-above energy approach has led to a robust energy sector, which includes oil, natural gas and renewables. This highly varied, reliable energy portfolio not only fuels our economy but also ensures stability even during uncertain times and crises impacting the U.S. and global economy.
Moreover, Texas is not just competing with other states – we have shifted our focus to the international stage. Businesses and entrepreneurs from around the globe are choosing Texas as their home, and that speaks volumes about our business-friendly environment. In fact, for 20 years CEOs have name Texas the Best State for Business, according to annual surveys conducted by Chief Executive Magazine. With a diverse economy that spans technology, health care, agriculture, and manufacturing, Texas does and will continue to attract global attention. Our cities, including Austin, Dallas, and Houston are emerging as hubs for startups and established companies alike, further solidifying our position as a leader on the international stage.
Our state’s prolific success is driven by the proactive leadership of our state officials, including Governor Greg Abbott and Chief Economic Development Officer Adriana Cruz. Their dedicated efforts and strategic vision have firmly established Texas as a top-tier player among the world's largest economic powerhouses and provided us with one of the strongest pro-business environments globally.
When it comes to attracting people and businesses, Texas takes a back seat to no one.
- Texas Association of Business Chairman Massey Villarreal
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