Texas Again #1 For Company Expansion, Relocation

For the sixth straight year, and for the 14th time overall, Texas has won the trophy from Site Selection Magazine for the most business expansions and relocations in a year, News Radio 1200 WOAI reports.

Texas reported 594 business relocations and expansions in 2017, more than any other state.

“I am proud to accept the Governor’s Cup on behalf of the great state of Texas as we are once again the top state for the most new and expanded corporate facilities,” said Governor Abbott. “In Texas, we don’t settle for the status quo. We are always striving to be even better and we will ensure Texas remains the best state for businesses. I want to thank CEOs and business leaders from across the state for investing in our communities and creating jobs for so many hardworking men and women and making Texas the envy of the nation.”

Ohio was second in 2017, followed by Illinois.  To determine the rankings, Site Selection focuses on corporate facility projects with significant impact to the state, such as corporation headquarters, manufacturing plants, R&D operations and logistics sites.

 These new business facilities and expansions are chosen based on specific criteria, which include capital investment, job creation and square footage.

Despite the devastation of Hurricane Harvey to the state's largest metro area, Texas added 307,000 new jobs in 2017, according to Site Selection.  

The magazine cited the state's booming energy and tech sectors, as well as solid growth in manufacturing and services.

But Abbott said the big growth is in financial services.

"Texas is becoming home to maybe more people working in the financial sector than any other state - we’re getting close to that," he said.

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