After billions of dollars in new development projects in 2014, Texas was named one of the best states for garnering big company investments and creating jobs.
Texas received Area Development Magazine’s 2015 Gold Shovel Award for states with populations over 12 million. The magazine cited Texas’ declining unemployment rate and diverse economy, which includes manufacturing, health care and technology.
The magazine named Toyota Motor Co.’s (NYSE: TM) North American headquarter relocation to Plano from California as the state’s the biggest development in 2014. The relocation is a $354 million investment from Toyota, according to Area Development. The new headquarters will employ around 4,000 workers in the Dallas-Fort Worth area.
In 2014, Texas was named the No. 1 spot for businesses by Chief Executive Magazine, making 2014 the 10th year that Texas took the list’s top spot. In March 2015, Texas also nabbed the top spot on Site Selection magazine’s list of the best states for corporate expansions.
By: Cara Smith