Texas Drops To Third Place In Attractiveness To Corporate Investors
by: Andrew Schneider, November 6, 2013 5:11:00 am
Georgia leapfrogged from a fourth-place finish last year to claim bragging rights as the state most attractive to corporate investors in 2013. North Carolina, last year’s winner, dropped to second, pushing Texas back to third.
Mark Arend, editor-in-chief of Site Selection, describes how the magazine ranks the states.
“The ranking is a combination of two primary components, the first being a survey we do of corporate site selectors. That’s 50%. The other 50% is based on data that we track throughout the year, as well as a couple of tax burden criteria we use from KPMG and the Tax Foundation.”
Texas narrowly beat out Georgia and North Carolina on the executive survey. But it fell well behind both in terms of its relative corporate tax burden -- particularly with regard to taxes on new firms.
Texas’s bronze-medal finish marked its second demotion in a row. The Lone Star State came in first place in 2011.