According to Forbes, Texas has now been ranked as the second best state for conducting business in within the United States. In actuality, the state ranked No. 1 last year for its economic climate and was in second place on the Forbes’ list of Best States To Do Business in for 2017.
All of these rankings were due in part for the strong employment rates in the state and for the amount of gross product growth over the previous five years.
A new record has been set in the history of the twice yearly survey conducted through the Federal Reserve Bank of Dallas. Almost half of all of the business respondents had said they planned to expand their employment opportunities.
The survey conduction by the bank involved over 350 business executives in the state of Texas. The bank found that a majority of these businesses were planning to increase their employment positions over the following six to twelve months.
If you’re looking to start your own business, Texas is a great place to look. Not only does Texas have no state income tax, they also have some of the lowest corporate tax rates in the nation, which makes it perfect for starting a new company.
But Texas is a big state, so it can be hard to choose the best place to set up shop. Should you head for DFW and start a business in the metroplex, or take your chances in a small rural town in the middle of the Panhandle? Both options have advantages and disadvantages, but the ideal town has a few things in common.