Why Texas Report WHY TEXAS? With its vibrant economy, favorable living conditions, and business-friendly government, Texas is the best state to locate your business: No corporate or personal state income taxHome to more than 50 Fortune 500 companiesWith more than 13 million workers, Texas has the nation’s second largest civilian labor forceIf Texas were a nation it would rank as the 10th largest country in world based on GDP, ahead of Russia, Australia, Spain and MexicoCentral U.S. location facilitates business in U.S., Canada and Latin AmericaCST time zone extends working day for bi-coastal companies—one hour earlier than East coast and two hours ahead of West coast“Best State for Business” 12 years in a row by Chief Executive Magazine#1 exporting state 16 years in a rowCost of living below national averageLocated in “sun belt” with moderate climateTop-ranked destination for foreign direct investment (FDI)#1 Technology exporting state (more than California) Source: Texas Economic Development Corporation; Office of the Governor, Texas Economic Development