CNBC: Texas’ Is the 2012 “Top State For Business”
I turned on CNBC this afternoon to catch up on business news just in time to see Texas governor Rick Perry doing a standup interview over at the University of Texas to celebrate Texas’ being chosen for the third time in the past several years as the “America’s Top State for Business.”
According to CNBC’s Scott Cohn, Texas “racked up an impressive 1,604 points out of a possible 2,500,” and had top-10 finishes in “six of our 10 categories of competitiveness.”
Texas has never finished below second place since CNBC started the study in 2007.
This year’s categories, developed in concert with the National Association of Manufacturers and the Council on Competitiveness, included the following: “Cost of Doing Business,” “Workforce,” “Quality of Life,” “Infrastructure and Transportation,” “Economy,” “Education,” “Technology and Innovation,” “Business Friendliness,” “Access to Capital,” and “Cost of Living.”
Diving deeper into the results, Texas has the nation’s best “Infrastructure” and improved to second place for “Technology and Innovation,” and boasts the third lowest “Cost of Living.”
On the downside, Texas came in 26th in “Education” and 35th of “Quality of Life,” apparently getting dinged for less available health care and higher property and sales taxes.
Obviously, this is very exciting news here in Austin and across the state of Texas, especially considering the vast diversification we’ve seen of the Texas economy over the past decade. When I was growing up in Texas, energy and oil dominated the economy, but we’ve seen massive investments and innovations in more diverse fields these past 20 years, including high tech, telecommunications, biotechnology and life sciences, health care, and many more, all in a business-friendly (read: less regulation and taxes) climate.
But we’ve still got some work to do, I would submit.
If you’re a person of little means, whatever else you do, don’t get sick here. Texas is not expected to expand Medicaid or establish a health insurance exchange, according to another recent announcement by Governor Perry, and only 31 percent of physicians in Texas accepted Medicaid patients in 2011, according to the Texas Medical Association and as reported in the Texas Tribune.
So, congrats to the great state of Texas…I’m really glad to hear we’re doing a great job of taking care of business…but clearly there’s some work yet to be done in taking better care of our people!