Texas is Setting Records
Texas achieved so much in 2023 winning numerous economic development accolades, expanding our economy and setting new records in job creation.
Most notably, Texas is now ranked as the eighth-largest economy among nations of the world. With a GDP of $2.4 trillion, the Texas economy is larger than that of Russia, Canada, Italy, and others.
Texas was also named the Best State for Business for the 19th year in a row and received three #1 Best Business Climate rankings from Business Facilities, DCI and Site Selection Magazine.
We were once again recognized as the nation’s leader in exports for the 21st consecutive year, #1 for high tech exports for 10 years and #1 in the export of semiconductors and other electronic components for 12 years.
Texas again secured the #1 ranking for attracting the most corporate relocations and expansions in the U.S., winning the Governor’s Cup for the 11th year in a row! And we are pleased to announce that this year has brought more than $58 billion in capital investment and more than 38,000 new jobs announced across Texas communities, according to initial tracking by EDT’s Research Team.
It is clear that Texas is focused on making strategic investments to maintain our competitive advantages and ensure we have the economic development tools needed to remain the premier destination for business in 2024 and beyond.
