Texas has secured its 13th consecutive Governor's Cup for 2024, as awarded by Site Selection Magazine. This accolade recognizes the state with the highest number of qualified capital investment projects, underscoring Texas's sustained appeal to businesses and investors alike. Houston remains a key player in this success story, ranking third among U.S. metropolitan areas for attracting new business ventures.  

The Governor's Cup evaluates states based on private-sector projects that meet specific criteria: a minimum investment of $1 million, the creation of 20 or more jobs or new construction spanning at least 20,000 square feet. In 2024, Texas reported an impressive 1,368 such projects, marking an increase of 114 from the previous year and doubling the count of the second-place state, Illinois, which logged 664 projects.  

The Houston region’s 435 projects secured the third spot among top U.S. metros for attracting new business, an uptick from 413 projects in 2022. 

“We are excited to see for the 13th consecutive year Texas continues to lead the U.S. in economic growth and Houston is helping lead the way as a preferred global destination for new jobs and capital investment.” Greater Houston Partnership Senior Vice President of Economic Development Craig Rhodes said. “Companies continue to recognize the overall ease of doing business in the Houston region.  We know speed to market is critical in today’s economy and Houston has all the right ingredients; quality workforce, robust infrastructure, and a wealth of real estate options to help companies succeed.”   

Apple’s $500 billion investment in U.S. manufacturing in Houston and Tesla’s expansion to Waller County earmark the region’s growing role in advanced manufacturing, digital technology and innovation. These moves also reflect a broader trend of tech companies relocating or expanding in Texas. 

Factors such as a friendlier tax and regulatory environment and a burgeoning talent pool have made Texas, and Houston in particular, attractive destinations for tech giants seeking growth and operational efficiency.  

To continue this economic growth, Governor Greg Abbott has unveiled a new five-year strategic plan. This economic plan is designed to attract large, capital-intensive projects in critical sectors such as advanced manufacturing, life sciences and biotechnology, as well as energy evolution. 

“Texas is a national leader in population growth, job creation, technology and innovation, and overall economic expansion,” said Governor Abbott. “Entrepreneurs and businesses choose Texas because of our unmatched business friendly policies, low taxes, and highly skilled workforce. With this statewide economic development strategic plan, we will cement Texas as a global economic powerhouse. I thank the economic development organizations and businesses across Texas who work tirelessly to ensure that economic prosperity reaches every Texas family and every Texas business. Working together, we will build an even stronger, more prosperous Texas for generations.” 

Grow your business in Houston.