With a $2.7 trillion economy, Texas ranks as the 8th largest economy in the world, outpacing global players like Russia, Canada, and Italy. But this is more than a measure of size—it’s a sign of dynamic strength across sectors, regions, and workforce demographics.
Texas’ sustained growth is rooted in a combination of factors: a pro-growth regulatory climate, a skilled and expanding workforce of 15.7 million strong, a diversified industrial base, and a strategic location that makes it a gateway for global trade. These conditions have helped Texas rank #1 in exports in the U.S. for 23 consecutive years and attract more corporate relocations than any other state. In fact, 314 corporate headquarters have moved to Texas since 2015, including Tesla, Oracle, and Hewlett Packard Enterprise.
The state’s business ecosystem is equally strong at the ground level. With 3.3 million small businesses—including a record 500,000 new business applications filed in 2024—Texas continues to be a magnet for entrepreneurs and high-growth startups.
With a young and growing population, a diversified economy, and unmatched infrastructure advantages, it’s easy to see why Texas is the best for business.
In 2024, real GDP grew by 4.8%, outpacing the national average and reaffirming Texas’ resilience amid a challenging economic landscape.
Texas has also led the nation in job creation for three consecutive years, adding 2.5 million jobs under Governor Greg Abbott’s administration.
Texas is reshaping the national financial landscape, with new stock exchanges signaling its growing influence in capital markets. In 2025, the New York Stock Exchange announced plans for NYSE Texas, a new, fully electronic exchange headquartered in Dallas. This move reinforces Texas’ appeal as a financial hub and is expected to attract institutional investment and high-wage jobs.
Additionally, Dallas is slated to become home to the Texas Stock Exchange (TXSE), backed by major investors like BlackRock, Citadel Securities, and Charles Schwab. With plans to launch in 2026, TXSE will offer companies an alternative venue for listing and trading, further boosting Texas’ national role in capital markets.
Nasdaq has also announced a new regional headquarters in Dallas, expanding its presence in the state to serve over 2,000 financial institutions and corporations in the region. This continued investment from leading financial players highlights Texas’ emergence as a central hub for market activity and corporate expansion.
Texas holds the #1 rank for business climate and has been named Best State for Business for 21 years straight by Chief Executive magazine.
Texas also ranks:
Texas is also ranked the #2 overall state economy by U.S. News & World Report, reflecting both performance and momentum.
While Texas and California are both economic powerhouses, Texas offers lower operational costs, a central U.S. location, and a booming talent pipeline, without the regulatory burdens. Learn more in our full breakdown of the Texas vs. California economy.
Texas outpaces Ohio in the metrics that matter most for business growth—GDP, job creation, corporate relocations, and tax competitiveness. With a $2.7 trillion economy compared to Ohio’s $923 billion, broader industry diversity, and stronger infrastructure for global trade, Texas offers a more dynamic foundation for long-term expansion. Learn more in our full breakdown of the Texas vs. Ohio business growth.
The Federal Reserve Bank of Dallas projects a 1.5% job growth rate for 2025, a strong signal of sustained expansion amid national uncertainties.
Future-ready industries and strategic initiatives are positioning Texas to lead for decades to come:
With a GDP that surpasses many of the world’s largest economies, Texas continues to lead with consistent, high-performing growth.
Strength in numbers is matched by strategic investment and accessibility. Infrastructure in Texas includes critical assets like the Port of Houston—the nation’s leader in waterborne tonnage—and the Port of Laredo, the top inland port. The state also leads the U.S. in the number of commercial airports and freight rail miles, providing businesses with exceptional logistics advantages. Paired with low tax rates in Texas and fewer land-use restrictions, companies have more room to grow and scale efficiently.
For businesses planning their next move, Texas offers the reach, resources, and reliability to compete nationally and globally.