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Texas extends streak as top state for corporate relocations

Thursday, March 15th, 2018 at 10:53am Engel & Völkers Austin

Texas ranks as the No. 1 state for corporate relocations and expansions for the sixth year in a row, according to Site Selection magazine.

Ohio followed with 467 new facilities that opened in 2017, the Atlanta-based magazine said in its annual Governor's Cup report, issued March 5.

However, when population is taken into consideration, Nebraska is the overall No. 1 state cake with 110 projects per capita.

Within Texas, the Houston metro is far and away the leader for corporate relocations and expansions. It ranked No. 2 in the nation in 2017 with 196 new and expanded facilities. Austin didn't rank nationally and came in No. 5 regionally in the South Central United States with 51 projects.

The Chicago metro was No. 1 in the nation with 402 projects in the past year. Dallas came in at No. 3 overall with 192 new or expanded facilities.

Site Selection noted that both Texas and Nebraska lead in wind energy, have an emerging financial tech industry and have strong business climates with room for ranches, agriculture and food processing industries. 

A main reason companies choose Texas is its workforce, Gov. Greg Abbott told Site Selection magazine.

“I asked them directly why they keep opening facilities in Texas, thinking they would tell me because taxes are lower, and your regulations are more reasonable and so forth,” he said. “Instead, they were immediate and direct in their response: They said it’s the top-quality workforce.”

The rankings are based on Site Selection’s Conway Projects Database, which tracks new corporate facility projects, such as headquarters, manufacturing plants, R&D operations and logistics sites. To be included, a facility must involve a capital investment of at least $1 million, create at least 20 jobs or add a minimum 20,000 square feet.

For Site Selection's 2017 metro rankings, click here.

For Site Selection's 2017 state rankings, click here.

By  at Austin Business Journal

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