Texas Best State to Start a Business
WASHINGTON (WalletHub) – Texas is 2019’s best state in which to start a business, according to WalletHub.
The Lone Star State was first in business environment and 11th in access to resources. It also ranked:
- fourth in longest average length of work week in hours;
- fourth in average growth in number of small businesses;
- fifth in highest total spending on incentives as a percentage of gross domestic product;
- 13th in industry variety;
- 20th in cost of living; and
- 30th in labor costs.
“Texas offers a business-friendly environment characterized by low taxes (e.g., no state income tax) and less burdensome regulation that favors a market economy that has created lower costs for doing business,” commented Real Estate Center Research Economist Dr. Luis Torres. ”In addition, this lower-cost environment has helped keep housing comparatively affordable.”
Utah, Georgia, North Dakota, and Oklahoma rounded out the top five rankings. Rhode Island ranked 50th.
For more, check out the Real Estate Center’s Texas economy page on its website.
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