Texas combines its wide horizons and accommodating climate, its diverse population and healthy markets and a stubborn pursuit to create an excellent environment for business. Between 2009 and 2013, 475 foreign companies announced more than 600
separate business openings or expansions in Texas. When all of these projects are fully operational, they are forecast to generate 59,000 jobs and $43 billion in combined capital investment.
Like the U.S. as a whole, more than half of Texas’ FDI projects during this timeframe originated from Western Europe, where major economies like the UK and Germany drove investment. Comparing U.S. states, Texas ranked No. 3 after only California and New York for total new FDI projects. However, in certain industries, like energy and chemicals, Texas led the nation in attracting foreign projects.
Within Texas, the Houston metro area was the top destination for inward foreign investment, landing 44% of the state’s FDI projects over the past fi ve years. Next in line was Dallas-Fort Worth with 24%, followed by Austin and San Antonio with 9% and 5% respectively. The remainder of projects were distributed amongst more than two dozen other Texas metro areas and rural communities. IT and electronics is Texas’ No. 1 industry for attracting foreign investment projects. Between 2009 and 2013, 114 unique investments in this industry were recorded, representing about 19% of the state’s total FDI projects during this period. Texas is truly a global trade powerhouse.
Many international fi rms base facilities such as warehousing, distribution, and manufacturing in Texas to take advantage of its excellent access to global markets. Texas takes the initiative to invest in the future by offering competitive incentives to companies who create jobs and drive innovation as they do business in our state and its communities. This section summarizes some of the most commonly utilized state offerings. Texas cities, counties and communities often offer local incentives and tax abatements. For local incentives, please contact the local economic development representative. Ask any Texas Wide Open for Business® representative to help you fi nd a contact in the community that interests you. Whether you live in a major metro area or in a small town, Texas is a great place to do business and build a home. The state is one of the most business-friendly in the United States, with low taxes, a low cost of housing and a high quality of education. Texas is home to the largest medical center in the nation and the #2 cancer center; 3 of the most affordable cities are in Texas. Four of our cities rank in the top 10 big cities for home ownership; Texas’ six largest cities have a cost of living below the national average of 100. There are few states that can match the Lone Star State’s current job opportunities, growth and residential quality of life. It’s no wonder Texas continues to reign as the nation’s top ‘domestic migration destination’.