Top States for Business

5. Texas

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Texas Score and Ranking

CATEGORY  2022 SCORE  2022 RANK 2021 RANK  2022 GRADE 
WORKFORCE29921A+
INFRASTRUCTURE2191413B-
COST OF DOING BUSINESS2201210A
ECONOMY24785A-
LIFE, HEALTH & INCLUSION724949F
TECHNOLOGY & INNOVATION193412A+
BUSINESS FRIENDLINESS863432D
EDUCATION932133B-
ACCESS TO CAPITAL4433A
COST OF LIVING371413B+
OVERALL151054

Economic Profile

Governor: Greg Abbott, Republican

Population: 29,527,941

GDP growth (Q1 2022): -2.3%

Unemployment rate (May 2022): 4.2%

Top corporate tax rate: None (levies a gross receipts tax)

Top individual income tax rate: None

Gasoline tax: 20 cents/gallon

Bond rating (Moody's/S&P): Aaa, stable/AAA, stable

Economic profile sources: U.S. Census Bureau, U.S. Bureau of Economic Analysis, U.S. Bureau of Labor Statistics, Federation of Tax Administrators, American Petroleum Institute (excluding 18.40 cent/gallon federal tax), Moody's Investor Service, S&P Global Market Intelligence

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