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Published Mar 03, 2020 by A.J. Mistretta
Texas is the top state in the country for new economic development projects while Houston scores the No. 2 spot among the nation’s largest cities, according to the latest rankings from Site Selection, a corporate real estate and economic development publication.
With 276 qualifying capital expenditure projects in 2019, Houston jumped two spots from fourth place in 2018 among the largest U.S. metros. The Bayou City came in ahead of the Dallas region (261 projects) and Atlanta (145 projects) but behind the Chicago area (416 projects). Texas secured the top spot for the eighth year in a row with a total of 859 projects in 2019.
Qualifying projects for Site Selection’s rankings must have a minimum investment of $1 million, create at least 20 new jobs or result in at least 20,000 square feet of new space.
“This latest ranking is more evidence of Houston’s strength as a destination for corporate relocation and investment,” said Bob Harvey, President and CEO of the Greater Houston Partnership. “Our low cost of doing business, access to quality talent and pro-growth mentality continue to make Houston an attractive place for companies across the country and around the world looking for expansion and relocation opportunities. Our strong, diverse economy is a big part of what makes Houston a great global city.”
The magazine credited Texas’ “booming and diverse economy, driven by the energy, IT, aerospace and automotive industries” for the state’s continued strong performance.
“I want to thank all of our local, regional and statewide economic development teams for their work to expand economic opportunity in Texas, as well as the companies that continue to invest and create more jobs throughout the Lone Star State,” said Texas Governor Greg Abbott in acknowledging the win.