It seems many CEOs are able to look past Texas' recent winter storm, which caused massive headaches for some businesses, because the state's low taxes and robust talent pool are just too good to pass up.
On Wednesday, Texas topped Chief Executive's list of the best states for business for the 17th year in a row. The magazine surveyed CEOs for the annual list and found the top three criteria high-level executives value most are a state's tax policy, regulatory climate and access to talent — traits the Lone Star State has reaped immense benefits from in recent years.
Florida kept its No. 2 ranking, followed by Tennessee, North Carolina and Indiana.
“Texas continues to dominate as the Best State for Business because of the unmatched competitive advantages we offer: no corporate or personal income taxes, a predictable regulatory climate, and a young, growing, and skilled workforce,” Gov. Greg Abbott said in a statement. “As we continue to unleash the full economic might of the Lone Star State, I look forward to welcoming even more innovative, job-creating businesses to Texas. When businesses succeed in Texas, Texans succeed."
February's winter storm caused widespread power outages in Texas and resulted in at least 111 people dead, according to the Texas Tribune. Samsung Austin Semiconductor LLC's plant off Parmer Lane only restarted in late March, which experts said is likely to cost the company hundreds of millions of dollars in losses, leaving many to wonder what this could mean for future economic development prospects.
Read the full story at Dallas Business Journal.