AUSTIN, TX (Covering Katy News) – Site Selection magazine ranks Texas as the best business climate in the U.S., and Waller County Economic Development Partnership Executive Director Vince Yokom and Elin Energy CEO Ercan Kalafat recently joined Governor Greg Abbott to celebrate the honor at the governor's mansion in Austin.
"Today, we celebrate another victory for Texas, this time with Texas listed as the number one business climate in the United States of America," Abbott said.
It's the first time Texas has won the award from Site Selection magazine since 2011.
"All of this is a testament to the exceptional economic development professionals and chambers of commerce in Texas," the governor said.
Abbott called Texas an "economic juggernaut," noting that the state is the world's eighth-largest economy.
"We cut red tape. We have lower taxes, and we have the best workforce in the United States," Abbott said. "Texas is the modern embodiment of the American dream—the land of freedom for entrepreneurs."
In October, the Waller County Economic Development Partnership announced that Elin Energy had chosen Waller County as the site for their new advanced manufacturing facility to produce solar panels in the U.S. Already recognized as one of the largest in Europe, Elin brings years of experience developing the next generation of solar technology.
Founded in 1981, Elin Energy is a leader in advanced energy solutions and will have the capacity to manufacture 2,000 megawatts annually in its Waller County facility.
"It was an honor to be in Austin for this great announcement," Kalafat said. "The very supportive environment of Texas was a major part of our decision to move here. We looked at other states, but it was obvious that Texas was the best fit."
With more than two decades of experience, Yokom worked collaboratively with the governor's office to ensure that Elin knew the benefits of locating in Texas.
"This is a great project for Texas and Waller County," Yokom said. "We worked closely with the Governor's Office of Economic Development and Tourism to attract Elin. It's exciting to have a project that contributes to the success of Texas as the top site for business climate."
Site Selection’s annual Top Business Climate ranking is based on an index that includes a survey of corporate real estate executives and site selectors. Other factors in Texas' No. 1 ranking include the number of relocation and expansions in the state; an unmatched business climate with no corporate or personal income taxes; a young, growing, skilled, and diverse workforce; robust infrastructure; and a focus on innovation with a strong startup ecosystem.
"Having won Site Selection’s Governor’s Cup for total capital investment projects in 2022 earlier this year, Texas, for the second time in 2023, is demonstrating that it has in place what businesses look for most when expanding or relocating," said Editor in Chief Mark Arend. "We congratulate the state-level and local economic developers throughout Texas for working to cultivate a business climate that is the best in the U.S."
In March, Governor Abbott accepted Site Selection’s Governor’s Cup for a record-shattering 11th consecutive win for Texas as the nation’s top-performing state for job-creating business relocations and expansions. Governor Abbott also celebrated being named the Best State for Business in April by the nation's leading CEOs for a record-setting 19th straight year.