Today, a report was released at the annual International Economic Development Council’s conference announcing that according to top corporate executives, Texas has the most favorable business climate in the U.S.! The report referred to as, “Winning Strategies in Economic Development Marketing,” has been issued by Development Counsellors International every 3 years since 1996. Since the survey’s first release, Texas has placed #1 seven times!
This year’s survey received 331 respondents consisting of executives of large and mid-sized businesses and location advisers. In describing what characteristics of Texas’ economic climate make it so “pro-business,” some of the most salient qualities reported by respondents include the Lone Star State’s favorable tax climate and its quality workforce.
Further, the report not only took into account what factors in economic development contribute to a pro-business environment, but in addition, this year the survey also considered how political perceptions since the last election have influenced executives’ business investment decisions. In emphasizing this addition to the survey process, DCI President and Chief Creative Officer Andy Levine explained that the report suggests that the current election has given site selectors more confidence. In addition, the survey reports that whereas 57% of respondents contend that the recent election has no influence on their investment plans, 34% claim that the recent election has influenced them to consider expansion opportunities domestically.
Overall, although there is no conclusive evidence as to how the recent election is impacting executive decision-making, what is clear is that despite the dramatic changes in politics over the past two decades, Texas has consistently continued to remain a beacon of economic growth and development in the United States.
Story Sources:
“Texas has the most favorable business climate, corporate execs say”:
https://www.bizjournals.com/dallas/news/2017/09/18/texas-has-the-mostfavorable-business-climate.html
Lone Star State tops the rankings for best business climate by a Texas-sized margin
https://www.bizjournals.com/sanantonio/news/2017/09/18/lone-star-state-tops-the-rankings-for-best.html