Abbott Touts Texas’ Tax System, Relaxed Regulations After Another Governor’s Cup Win

Despite a slight year-over-year slip in economic development projects, a continuous stream of corporate relocations and expansions in the Lone Star State in 2022 propelled Texas to its 11th consecutive Governor’s Cup.

Gov. Greg Abbott on March 1 hosted state and local economic development representatives from around Texas to celebrate Site Selection magazine giving Texas a Governor’s Cup for the most total capital investment projects in the United States last year.

Awarded annually by the magazine since 1978, the Governor’s Cup recognizes the top-performing states for job-creating business relocations and expansions. Texas claimed its 19th total Governor’s Cup and was the only state to surpass the 1,000-project mark last year with 1,028 qualified projects.

That was down slightly from 1,123 in 2021 but was more than twice the number of second-place Illinois, which had 487, according to Site Selection. Kansas also earned a Governor’s Cup for the most projects per capita.

“I accept this Governor’s Cup on behalf of the people of the state of Texas. Every year that I’ve been governor, Texas has won this award,” Abbott said. “We also know very well that awards like this are really through the hard work by local officials. … We often see these deals bubble up from those levels and the tireless ongoing work by these officials is what really leads to so many of these projects [getting done].”

While 2022 marked a dip in overall capital investment projects, Texas continued to attract companies. At least 23 businesses moved their headquarters to the state in 2022, including Caterpillar Inc. to Irving, according to the latest data from business network YTexas. That was down 63% from the record 62 that made the move in 2021.

Read the full story at Dallas Business Journal.