Texas is a big state that is home to both big companies and even bigger industries. From oil and gas to ranching, there are many industries that people closely associated with the Lone Star State. Laws and policies favorable to businesses and specific industries have helped maintain a strong economy in Texas even at times when other states see economic slowdowns.
Texas prides itself on being a great place to operate a business and is able to attract companies and skilled workers alike because of its business laws and tax policies. Between access to the ocean, the southern border of the United States and the richness of natural resources, Texas has a lot to offer businesses.
The idea that Texas is a great place to run a company isn’t just a claim made by state lawmakers or marketing professionals. It is a reflection of what industry professionals think about Texas and the rest of the country.
Texas has taken the top place again in a corporate survey about different states
Development Counsellors International (DCI) performs an economic survey every three years. They started doing this in 1996. Since the inception of the survey, Texas has always secured the number one rank in the survey.
DCI speaks with hundreds of corporate executives who then rank which states are most friendly to businesses. In the 2020 survey, Texas secured 48% of the vote, making it the number one choice by a wide margin. Evan Georgia only had 25% of the vote in second place. Respondents cited the overall business climate, business taxes and access to talent as major contributing factors to their decision.
Understanding Texas law helps businesses maximize their potential
It isn’t enough to choose to operate in Texas because the state has business-friendly tax policies. Your location alone won’t increase the benefits your company draws from state laws.
If you truly want to maximize the growth and potential of your company, you also need to learn about the business laws in Texas and use them in your favor. Working with an experienced Texas business attorney can help your company thrive by maximizing its protections, ensuring its compliance with state laws and utilizing perks, like tax benefits, proactively.