Texas attracted more relocating businesses than any other state, report finds

(The Texas Tribune) – Texas gained more jobs than any other state in the previous decade from businesses relocating from other parts of the country, according to a report published Friday by the Federal Reserve Bank of Dallas. More than 25,000 establishments relocated to Texas from 2010 to 2019, bringing more than 281,000 jobs with them and resulting in a gain of nearly 103,000 jobs for the state, data compiled by the Federal Reserve Bank shows. Related Stories Federal Reserve Bank senior economist Pia Orrenius said the report’s findings were similar to those of a previous one and that she believes the trend will continue in coming years. The report said Texas appeals to relocating businesses for a variety of reasons, including its central location in the continental U.S., access to multiple large cities and business-friendly environment. The state has also offered various incentive programs, including the Texas Enterprise Fund, one of the nation’s largest state programs to attract businesses, and the now-expired Chapter 313 program, which gave companies a tax break for 10 years in exchange for a commitment to contribute to local economic growth and school districts. However, research from the Federal Reserve Bank of Dallas found that...