Legal climate helps make Texas top business state, Perry says

Marilyn Tennissen Jul. 9, 2008, 2:15pm

Another study has named Texas as the top state for business, and the governor names the fairness of its legal climate as one of the reasons for the state's success.

The Lone Star State is America's Top State for Business, according to the results of a CNBC study released July 9 that scored each state on 40 different measures of competitiveness.

"There is simply no better place to live, work, grow a business and raise a family than the great state of Texas," said Gov. Perry in a press release. "We have the best business climate in the country and remain globally competitive thanks to our reasonable regulations, low taxes, fair legal environment, educated workforce and an unparalleled quality of life."

Texas has already been lauded as the home of more Fortune 500 companies than any other state, and recently received its third consecutive ranking as "Best State to Do Business" by CEO Magazine.

Gov. Perry said in the past five years, Texas has created 1.2 million net new jobs. In the last year alone, more than half of all jobs created in the U.S. were in Texas.

Southeast Texas is a part of the state that is thriving, with the Beaumont-Port Arthur area currently in the midst of a $10 billion refinery expansion and construction boom.

CNBC scored each state using publicly available data to determine the rankings. States received points based on 10 broad categories including: cost of doing business, workforce, economy, education, quality of life, technology and innovation, transportation, cost of living, business friendliness, and access to capital. Texas' strongest showings were in economy, technology and innovation, transportation and cost of living.

"We live in a world that moves faster than at any time in history," Gov. Rick Perry said. "Knowledge and capital are rapidly being deployed to parts of the world where the right combination of talent, technology, business climate, infrastructure and markets converge. I believe Texas is that place, now more than ever."

The complete study is available on

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