CEO Magazine Ranks Texas Best State for Business for Seventh Consecutive Year

Press Release

Texas has been ranked the top state for job growth and business development for the seventh year in a row in a survey of CEOs by Chief Executive Magazine. The survey asked 550 CEOs to consider a wide range of criteria, from taxation and regulation to workforce quality and living environment, in the magazine's annual ranking of the best states for business.

"Texas' top ranking as the best state for business for seven years running by CEOs across the nation is a testament to our successful model for job creation and economic prosperity," Gov. Perry said. "I am proud of our state's accomplishments and remain committed to upholding principles like low taxes, restrained spending, reasonable regulations and a fair legal system, which have made Texas the best state in the nation to live, work, raise a family and start a business."

In the study, Texas received strong marks in all areas important for business creation, while highlighting the state's low tax burden and robust job creation compared to other states. Additionally, the study credited the state's predictable policies and regulations, positive attitude toward business and Texans' strong work ethic with helping the state hold the top ranking since 2005.

Texas continues to pursue fiscally responsible priorities that have been crucial to fostering job creation and economic development, and attracting businesses to expand and relocate in the state, including low taxes, reasonable regulations, a fair legal system and an equipped, educated workforce. As one CEO noted in the study, in regard to the need for states to take actions that encourage business leaders, "We need some political backbone to control spending, address out-of-control debts, and use common sense on environmental and other governmental regulations. Quit demonizing businesses. Who do they think provide real jobs?"

Texas' economy continues to receive national recognition. The state's unemployment rate remains well below the national average, dropping to 8.1 percent in March compared to the nation's 8.8 percent rate. Additionally, Texas is the top exporting state in the nation for the ninth year in a row, and no other state is home to more Fortune 1000 companies.

The state also continues to receive national accolades, including the 2010 Governor's Cup from Site Selection Magazine for the most new and expanded corporate facilities announced over the year. Newsweek recently ranked four Texas cities in its list of 10 cities best situated for economic recovery, and described Texas as the top destination for job-seeking Americans. Additionally, the Wall Street Journal recently credited the state's low taxes and employer-friendly environment with helping make Texas the job creation capital of the nation.

To see CEO Magazine's announcement of the 2011 Best/Worst States for Business survey, please visit http://chiefexecutive.net/best-worst-states-for-business.

To see the full grades for each state, please visit http://chiefexecutive.net/ceos-grade-the-states-2.

To see charts that show how states fare on the factors most essential for a business-friendly environment and what states are doing to attract and retain companies, please visit http://www.chiefexecutive.net/states2011.

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