Texas Breaks Records in 2024: A Top Destination for Business Growth and Innovation

Texas Sets Unprecedented Records in 2024, Continues to Be a Top Destination for Small and Medium-Sized Businesses, Says Governor Greg Abbott

Texas, United States, achieved unprecedented records in 2024, continuing to establish itself as one of the most attractive states for small and medium-sized businesses, stated Governor Greg Abbott.

"Texas is the leading economy in the United States because we move at the speed of business," said Governor Abbott.
"This year, I launched two new state initiatives: the Texas Space Commission and the Governor's Small Business Freedom Council, to further spur economic growth and job creation," he added.

The governor highlighted that Texas has also received numerous awards in 2024, including Best State for Business, the Gold Shovel Award, the Governor's Cup, among others.

This, he asserted, demonstrates Texas' investment in its future by partnering with local businesses and providing globally competitive and cost-effective financial tools to foster success and innovation.
"As the eighth largest economy in the world, Texas will continue to slash government regulations that hold our businesses back from thriving in 2025," Abbott emphasized.

TEXAS' 2024 ECONOMIC DEVELOPMENT INITIATIVES

Texas Space Commission

The Texas Space Commission works to strengthen the state's proven leadership in civil and commercial aerospace activities by promoting innovation in the fields of space exploration and commercial aerospace opportunities, including the integration of space, aeronautics, and aviation industries into the Texas economy.

The Commission is governed by a nine-member board of directors, who also administer the Space Exploration and Aeronautics Research Fund, established by law to provide grants to eligible entities.

Texas Named Best State for Business

Texas was once again named the Best State for Business for a record-breaking 20th consecutive year. In an annual survey conducted by Chief Executive magazine, the nation's top CEOs highlighted Texas for its pro-growth economic policies, absence of corporate and personal income taxes, and a highly skilled, world-class workforce.

Governor's Cup for the 12th consecutive year

Texas won the Governor's Cup from Site Selection magazine for the 12th consecutive year and its 20th overall recognition.
"By cutting red tape and unnecessary regulations and making strategic, ongoing investments in infrastructure, education, and workforce development, Texas offers businesses the freedom to grow and Texans the tools to prosper," said Governor Abbott.

Gold Shovel Award for Attracting Job-Creating Investments

Texas was recognized for the 11th time with the Gold Shovel Award by Area Development magazine as a leader among the most populous states in attracting high-value economic development projects that generated a significant number of new jobs.

Small Business Freedom Council

The Small Business Freedom Council will review government efficiency and provide recommendations to eliminate unnecessary regulations.

State agency recommendations are scheduled to be submitted to the Governor’s Office by January 13, 2025. The Small Business Freedom Council will review these recommendations and provide a report for future action.