AUSTIN (Austin Business Journal) – Texas has been named a top state for new and expanded corporate facilities once again, according to Site Selection magazine.
The publication's two Governor’s Cups for 2016 went to Texas for the most qualified projects of any state and Nebraska, which won in the per capita category.
By sheer number of projects, the state led by a wide margin. Site Selection recorded 642 qualified projects statewide, followed by Ohio at 515.
This is Texas' fifth consecutive cup since overtaking Ohio in 2009. Site Selection noted that Texas maintained its No. 1 ranking even during the energy downturn.
“The reason is we have continued to diversify our economy in areas and sectors that have nothing to do with energy,” Texas Gov. Greg Abbott told Site Selection. “The high-tech sector is in high growth in Texas, and our health care sector and innovation in life sciences are growing very rapidly. These are areas that, because they are sectors of the American economy that are growing so rapidly, will continue to spur our economy.”
Among metropolitan areas with populations of more than 1 million, Dallas-Fort Worth-Arlington and Houston-The Woodlands-Sugar Land rank second and third, respectively. The DFW area logged 231 qualified projects last year, and Houston recorded 210. The Chicago metropolitan statistical area took the No. 1 spot, with 424 projects; the New York City MSA was a distant fourth, with 160.