Texas rules again as No. 1 state in U.S. for business

business as big as texas

Photo by Getty Images

The Texas business sector has a pretty impressive winning streak when compared to the rest of the country.

For the 19th consecutive year, CEOs surveyed by Chief Executive magazine have named Texas the best state for business. For its annual survey, the magazine questions CEOs about each state’s business climate, workforce, and quality of life.

“The state’s combination of business-friendly policies, growing cities, a rising professional class, and a direct appeal to CEOs who aren’t happy with California continues to keep Texas at the head of the class,” the magazine says.

Texas Gov. Greg Abbott touted the Chief Executive honor in a recent news release.

“Texas is attractive to CEOs and their businesses because we offer the freedom and opportunity that cannot be found elsewhere: no state income tax; a stable, predictable regulatory structure; and a young, educated, and growing workforce ready to take on the jobs of tomorrow,” the governor says. “Workers know that in Texas you can find a good home, a great education for your children, and plenty of companies that provide an ample income to support their family.”

The Chief Executive accolade comes almost two months after Texas claimed its 11th straight Governor’s Cup from Site Selection magazine. The Governor’s Cup recognizes the nation’s top-performing state for job-creating business relocations and expansions.

“Texas truly is America’s economic engine, and we stand apart as a model for the nation,” Abbott said in a March 2023 news release about the Governor’s Cup victory.

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Continue reading this story on our sister site, InnovationMap.

Photo courtesy Port San Antonio / Pelli Clarke & Partners

San Antonio's largest technology center is getting a state-of-the-art office tower

ICONIC ARCHITECTURE

Pre-development work for a brand new, state-of-the-art office tower at the main entrance of the largest technology center in San Antonio is beginning this April.

Port San Antonio has moved forward with their plans to create a striking modern tower with global real estate development firm Trammell Crow Company (TCC) and architectural firm Pelli Clarke and Partners.

"We're excited to bring world-class partners to our team as we plan our region’s future as leaders in technological innovation," said Port San Antonio president and CEO Jim Perschbach in a press release. "Our new building is more than just a place to work–it’s a symbol of our bright future and a recognition that we stand on the shoulders of the generations who came before us building one of the world’s most important centers for world-changing innovations."

The size of the tower and construction costs are yet to be determined, but the massive development on the 1,900-acre campus follows after the company’s six-year employment boom, adding over 7,000 new jobs to Tech Port. Some of the major employers operating at the Port include Boeing, the U.S. Air Force, Accenture Federal Services, and over 80 others.

Port San Antonio new tower rendering The size of the tower and construction costs are yet to be determined.Photo courtesy Port San Antonio / Pelli Clarke & Partners

The new office tower is just one of three significant projects the Port announced in 2022 to signify the company’s growth. One of the main goals of the new tower is to strengthen San Antonio’s presence in the tech world, showcasing the city’s capabilities for the future.

"Because of our sharp focus on creating a community where people from all walks of life can connect with life-changing opportunities, this campus has seen exciting growth by our customers, and much more is expected in the months and years ahead," said Port Board Chair Margaret Wilson-Anaglia. "Our customers’ success, from global names to home-grown tech entrepreneurs, has fueled our expansion, and we are ready for our next phase as one of the most vibrant places in our community."

Most recently, a multi-purpose facility called the Boeing Center at Tech Port opened last year to add several new educational and entrepreneurial attractions to San Antonio. A few of the new features included a 3,500-seat arena, a technology lab and startup accelerator, a LAN gaming center, and a “technology showcase” by the San Antonio Museum of Science and Technology called Area 21. All roads lead to the Kelly Heritage Foundation, where profits at the Boeing Center are donated to support funding educational programs for younger generations all around the area.

More information can be found at portsanantonio.us.

Photo via Getty Images

Texas rises through the ranks of most innovative states, says new report

MOVING ON UP

The Lone Star State has again taken a step up on an annual report that ranks the most and least innovative states in the country — this time cracking the top 15.

Texas ranked No. 15 in personal finance site WalletHub's 2023’s Most and Least Innovative States ranking. It's a steady improvement for the state, which ranked No. 16 in 2022 and No. 17 in 2021.

The report analyzed the 50 states and the District of Columbia and how each performed across 22 key metrics, including population of STEM professionals, venture capital investment activity, number of technology companies, patents per capita, and more. The data was pulled from the U.S. Census Bureau, Bureau of Labor Statistics, National Science Foundation, National Center for Education Statistics, United States Patent and Trademark Office, and other records.

Here's how Texas performed at a glance:

No. 18 – for share of STEM professionals
No. 16 – for projected STEM job demand by 2030
No. 25 – for eighth grade math and science performance
No. 21 – for share of science and engineering graduates aged 25 or older
No. 13 – for share of technology companies
No. 31 – for R&D spending per capita
No. 18 – venture capital funding per capita

For the 11th year, Texas won Site Selection Magazine's Governor's Cup, the governor's office announced earlier this year. The award, which Texas has won 19 times since its inception in 1978, recognizes the nation’s top-performing state for job-creating business relocations and expansions.

"Texas truly is America’s economic engine, and we stand apart as a model for the nation. When choosing where to relocate or expand their businesses, more and more innovative industry leaders find themselves at home in our state," Governor Greg Abbott says in a news release about the award.

"I congratulate the exceptional economic development teams at the local, regional, and state level who have worked so diligently to attract and retain these growing businesses and the jobs they create in diverse communities across this great state," he continues.

The most innovative states included the District of Columbia, which ranked at No. 1, followed by Massachusetts, Washington, Maryland, and California, respectively. The least innovative state was identified as Mississippi, followed by Louisiana, North Dakota, West Virginia, and Arkansas, respectively.

Source: WalletHub

Access to quality education is a significant contributor to each state's innovation economy, the experts say in the report.

"Investing in education, particularly K-12 but also at the University level, it is no accident that innovative ecosystems develop in states with strong education systems and research universities," says David L. Deeds, professor at the University of St. Thomas in Minneapolis. "These institutions build strong capable modern workforces that attract capital, and jobs and create innovations. The benefits do not happen overnight, in fact, they take years if not decades, but consider what The UC’s or the University of Texas at Austin have meant for the development of premier innovative ecosystems."

Courtesy photo

Texas ranks among best states to start a business

We're No. 3

For years, Texas has been lauded for its business climate being welcoming for new businesses and startups. This year's study shows that the Lone Star State has yet again made the list.

Texas ranked as the third best state to start a business in personal finance website WalletHub's recent list, 2023's Best & Worst States to Start a Business, with a score of 56.85 points. Texas ranked behind Utah, No. 1, and Florida, No. 2, and just ahead of Colorado. Idaho, Georgia, Arizona, Nevada, Oklahoma, and California make up the rest of the top 10, respectively.

The study looked at 27 key indicators of startup success across all 50 states. Texas was recognized for these factors in particular:

No. 10 – average growth in number of small businesses
No. 30 – labor costs
No. 10 – availability of human capital
No. 4 – average length of work week (in hours)
No. 14 – cost of living
No. 13 – industry variety
No. 31 – percentage of residents who are fully vaccinated against COVID-19

Source: WalletHub

Richard Ryffel, professor of finance practice at Washington University in St. Louis, noted the importance of policy in making a state a good place to start a business.

"Established businesses looking to expand might expand or relocate entirely based on the relative favorability of the local business climate," Ryffel says. "Recently, Texas, for example, has been the beneficiary of some significant business relocations based on its business-friendly policies."

The methodology of the study focused on three key dimensions — business environment, access to resources, and business costs — and 27 relevant metrics. Each metric was graded on a 100-point scale, and then each state’s average across all metrics was used to calculate its overall score.

In 2021, Texas ranked in the top position of WalletHub's study. Last year, the personal finance website looked at which cities were ideal spots for business launching, finding that the Austin suburb of Georgetown was the best small city in Texas for starting a business.

Other Austin suburbs managed to crack the top 200, including Pflugerville, which landed at No. 150 nationally. Closer to San Antonio, San Marcos came in at No. 181.

When it came to big cities, San Antonio ranked as No. 45.

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This article originally appeared on our sister site InnovationMap.

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San Antonio plummets on list of best places to live, plus more top stories

Hot Headlines

Editor’s note: It’s that time again — time to check in with our top stories. From hotel accolades to urban treasure hunting, here are five articles that captured our collective attention over the past seven days.

1. San Antonio plummets on list of best places to live in new national report. San Antonio was previously the No. 75 place to live in America in 2021, tumbling to No. 83 in 2022 and dropping even further down the list to No. 103 in 2023.

2. Here are the top 7 things to do in San Antonio this holiday weekend. Check out Spoon or Kool and the Gang tonight, or head to UTSA for their annual Asian festival.

3. This is how big San Antonio apartments get for $1,500 a month. San Antonio renters can find apartments that span 1,010 square feet for $1,500 a month.

4. Posh Pearl hotel books top spot on best luxury hotels in U.S. list. Tripadvisor's coveted Travelers' Choice Best of Best Awards recently gave Hotel Emma top marks in two categories.

5. Texas unearths new ranking as 2nd best state for urban treasure hunting. Fun fact: Texas has the highest number of metal detecting sites in the nation.

Fine dining chef unpacks nostalgic pop-up concept at popular Grayson Street bar on Memorial Day

NEW KID ON THE BLOCK

With new restaurants seemingly opening daily, San Antonio’s culinary scene is more exhilarating than ever. But even those with a packed reservation schedule sometimes crave something different.

Enter pop-ups — a San Antonio obsession that grows more popular each month. The latest to enter the fray is Restaurant Claudine chef Mel Cavazos, who will debut Throwback Sammies, a one-night-only concept sprouting up at Three Star Bar on May 29.

“I want to do something comforting that everyone can relate to,” explains Cavazos of the nostalgic concept. “I want the menu to read simply but totally unexpected when you eat it.”

The small menu includes a trio of dishes that evoke childhood memories. Cheese bread is reimagined with Romesco sauce, burrata, and basil, while another sandwich has all the fixings of a Sunday pot roast with potatoes, carrots, and gravy. Those desperately waiting for fall will no doubt flock to the Thanksgiving Meltdown, complete with turkey, stuffing, and cranberry.

One dish, however, is even more personal. In honor of a recently passed friend, Cavazos added a “secret” vegan sandwich featuring buffalo cauliflower and homemade pickled vegetables.

“He loved his vegan wings,” Cavazos remembers.

The chef tells CultureMap that Throwback Sammies is just the start of a series of pop-ups she hopes to hold monthly. As she continues developing a career at Carpenter Carpenter Hospitality’s ever-growing restaurant empire, she sees the pop-up series as a chance to keep exploring her culinary voice.

“I want to expand and explore more options,” Cavazos says, adding, “I love sandwiches, but that’s not what I like to be known for.”

Throwback Sammies starts at 8 pm and runs until supplies run out. Future pop-ups will be announced via Instagram.

Texas' best restaurants and bars reign at 2023 Tastemaker Awards

HATS OFF TO TEXAS

It’s another one for CultureMap’s history books, folks. Our statewide journey to recognize some of the best chefs, restaurants, and more in 2023 has finally come to a close.

The series kicked off April 13 with our sold-out Houston Tastemakers at Silver Street Studios, then we moved to Cowtown for our Fort Worth event on April 27. The Texas culinary tour steered us to our Metroplex neighbors in Dallas at the Fashion Industry Gallery on May 4. From there, we took a drive to the Hill Country for Austin’s evening festivities at Fair Market on May 11, then concluded our journey with our second-ever fête in San Antonio on May 18.

The 2023 Tastemaker Awards honor the state’s most innovative culinary pioneers, allowing nominated chefs and restaurants to showcase their talents for guests before announcing the winners during a live ceremony.

Guests sampled chefs’ specialty bites and imbibed a variety of creative cocktails or mocktails, with a few Topo Chicos sprinkled in throughout the evening. But as always, our nominees and winners are the main focus of our program and are the reason we can bring these celebrations to life.

Nominees are brought forth by a panel of previous Tastemaker winners and CultureMap editors. While the panel choses a majority of the winners, the winner of Best New Restaurant is determined by our readers in an online, bracket-style tournament. New this year in each city, a sizzling on-site Burger Throwdown sponsored by Goodstock Beef by Nolan Ryan.

Without further ado, let’s meet our 2023 CultureMap Tastemaker Awards winners, listed by city:

San Antonio: