AUSTIN — Gov. Greg Abbott Monday lauded the strength of Texas’ robust and diverse economy that fosters an environment where large and small business can succeed.
“ Texas' economy continues to triumph because of our business- friendly climate and common-sense regulatory environment,” Abbott said. “This year, the state slashed red tape and burdensome regulations to allow free enterprise to flourish and Texans to thrive. As the economic envy of America and the strongest workforce in the nation, Texas offers unparalleled economic freedom and opportunity for all.”
Among highlights of the state’s economic impact this year:
Texas wins Governors Cup for 13th straight year
In March, Abbott celebrated Texas winning Site Selection magazine's Governor's Cup for an unprecedented 13th consecutive year and 21st overall.
“Texas partners with the businesses that come to our great state to grow,” Abbott said. “When businesses succeed, Texas succeeds. We added more new jobs last year than any other state, and we have exceeded that for three years in a row.
Texas also added more than 314 corporate headquarters since 2015. With a total of 1,368 projects in 2024, Texas was once again recognized as the No. 1 state in attracting the newest and expanded business facility projects.
Texas also had more than twice the total number of projects than the second-ranked state.
Google to make $40B investment in Texas
Last month, Abbott joined Alphabet and Google CEO Sundar Pichai to announce Google's $40 billion investment in Texas as part of Google’s “Investing in America” initiative.
“This is a Texas-sized investment in the future of our great state,” Abbott said. “Texas is the epicenter of AI development, where companies can pair innovation with expanding energy.”
Google's $40 billion investment makes Texas Google's largest investment in any state in the country and supports energy efficiency and workforce development in the state.
Google’s “ Investing in America” initiative is furthering American innovation through major investments in technical infrastructure, research and development, expanded energy capacity for an AI-driven economy and workforce development to help the U.S. continue to lead the world in AI.
The investment in Texas will help support Texas businesses and the economy, creating robust career opportunities across North Texas, West Texas and the Panhandle.
Texas retains ‘Business Climate’ award title
Last month, the governor announced Texas was named America’s Top Business Climate for the third year in a row by Site Selection magazine.
“ Texas once again emerges as the national champion for the top business climate in America,” Abbott said. “As the eighth-largest economy in the world, Texas offers the freedom and opportunity for companies of all sizes and all industries to thrive.
Driving Texas’ top ranking is a powerful combination of factors: the number of job-creating corporate relocation and expansion projects, a pro-growth mindset and environment where enterprise can flourish, investments in workforce development and infrastructure, access to technology and tech talent, and a predictable regulatory landscape.
“Coupled with the progrowth, pro-business laws I signed this year, Texas improved the process of doing business to help them succeed in our great state,” Abbott said. “We will continue to make strategic investments and partner with job-creating businesses to ensure that Texas remains the top state in the nation to do business.”
Laws signed to boost state small businesses
In June, Abbott signed House Joint Resolution 1, House Bill 9, House Bill 346, House Bill 2464, and House Bill 5195 into law to support Texas' small businesses.
Passed during the 89th Regular Legislative Session, these new laws accelerate the process for starting a business in Texas and cut unnecessary government regulations on small businesses.
“The Texas economy is better than ever before,” Abbott said. “This session, we took strategic steps to boost small businesses in Texas.
“Even the smallest of barriers can increase the cost of doing business,” he said, adding, “we want to make it easier and less costly for businesses in Texas, especially our small business owners.”
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