Texas tops Site Selection’s business expansion ranking for 10th straight year

Texas led the nation in enterprise enlargement initiatives in 2021, incomes Web site Choice journal’s high honors for the tenth straight yr.

The state’s challenge rely — 1,123 — greater than doubled second-place finisher Ohio. The Texas complete additionally was 341 greater than its 2020 rely of 781 initiatives.

Below Web site Choice’s standards, initiatives qualify primarily based on three standards: funding of $1 million or extra, creation of 20 or extra new jobs, or 20,000 sq. toes or extra of latest area.

Amongst main metro areas, Dallas-Fort Price ranked second behind solely Chicago for essentially the most enterprise enlargement initiatives. Houston and Austin completed third and fourth, respectively. It was the ninth straight yr that Chicago led the listing.

Trailing Texas and Ohio within the initiatives race have been Illinois with 480, California with 301 and North Carolina with 282.

Web site Choice famous Texas’ surge in semiconductor plant funding late final yr.

Texas Devices led the way in which with a four-fab plan that might in the end deliver $30 billion in funding in Sherman. Not far behind was Samsung’s $17 billion plan for a brand new plant in Taylor close to Austin.

In January, multiple news reports mentioned Micron Expertise is also scouting Central Texas for a brand new chip plant location.

Semiconductor plant investments accounted for the three high spots on Web site Choice’s “U.S. Giants” listing of costliest initiatives. Intel Corp.’s $20 billion chip plant in Chandler, Az., joined the 2 Texas initiatives on the high.

Different Texas initiatives rating within the high 10 have been Nacero’s $7 billion industrial fuel funding in Penwell and Covestro’s $4.7 billion chemical substances enlargement in Baytown.

Competitors is fierce amongst states and metro areas to land main initiatives that create jobs, increase tax bases and add panache to communities’ rosters of locally-based corporations. Whereas Texas cities triumph in a lot of these battles, even the Lone Star State doesn’t win all of them.

Fort Price lost out last year to the Atlanta space for Rivian’s $5 billion electrical car meeting plant, and Plano-based Toyota North America selected North Carolina for its $1.29 billion electrical car battery plant, the automaker’s first within the U.S.

Up to now this yr, Texas cities have scored seven out-of-state corporate relocations, based on a database compiled by financial growth group YTexas. Final yr, 64 corporations moved to Texas from elsewhere across the U.S.

This fall, YTexas will host a summit at AT&T Stadium in Arlington to tout the state’s enterprise setting and permit Texas-based corporations to showcase their applied sciences and merchandise.

“For the reason that pandemic, greater than 100 corporations have dedicated to transferring their company headquarters to Texas, and it’s projected to proceed at a file tempo,” YTexas founder and CEO Ed Curtis mentioned in an announcement.

The group is anticipating greater than 3,000 attendees on the Sept. 30 occasion.