DALLAS (KDAF) — Business might not always be booming in every state across the country but for the great state of Texas, it seems things are looking good heading into the new year.
A report from Harrington Group International looked at the best and worst states to succeed in business in 2023 and you can find the Lone Star State in the No. 2 spot.
“Business leaders are grappling with a major shift in how – and where – Americans work, live and play, driven by high demand for workers, remote work flexibilities and other social and economic forces. They’re also coming off a summer marked by rising inflation and gas prices, which pinched Americans’ wallets and kept them away from big purchases.“
The report found that Florida, Texas, and Tennessee are in the best shape for businesses moving into the new year, “Overall, Florida, Texas and Tennessee are the best states for business, with above average growth rates for jobs and gross domestic product, strong consumer spending, influxes of educated workers and low levels of corporate and personal income taxes.”
Here’s a look at the top 10 best states for business:
- South Dakota
- South Carolina
- North Carolina
The report added, “Notoriously, Texas has no personal or corporate income tax, helping it land the No. 2 spot. While the U.S. GDP fell by slightly in the second quarter, Texas’ annualized rate rose by 1.8%, and the number of jobs grew by 5.7% in the year ending in August 2022. But Texas lost points for its business growth rate, which was in the red: -7.3% compared with Florida’s 2.2% and No. 4 South Dakota’s 12.8%.”