If a state’s economic health can be measured by economic development activity, then Texas is in great shape, according to Site Selection Magazine, which has awarded the Lone Star State its annual Governor’s Cup after ranking it No. 1 overall based on the number of new and expanded facilities projects constructed here in 2015.
Texas produced 702 such projects last year, ranking it ahead of Ohio and Illinois, which had 517 and 413 projects, respectively.
The Houston and Dallas-Fort Worth markets ranked No. 2 and No. 3, respectively among the top 10 major metro areas in terms of number of new and expanded facilities. Those two regions alone produced 485 such projects or nearly 70 percent of Texas’ total.
Site Selection focuses on new corporate facility projects with significant impact, including headquarters buildings, manufacturing plants, research and development operations and logistics sites, among others. It does not track retail, government, school or hospital projects. New facilities and expansions included in the magazine’s analysis and rankings must involve a capital investment of at least $1 million, create at least 20 new jobs or add at least 20,000 square feet of new floor space.
Kentucky was ranked No. 1 among all states in volume of capital investment activity in 2015 per capita.
Here are the top 10 states and their respective number of new and expanded facilities projects in 2015, according to Site Selection Magazine:
1. Texas (702)
2. Ohio (517)
3. Illinois (413)
4. North Carolina (300)
5. Kentucky (285)
6. Michigan (217)
7. Georgia (211)
8. Pennsylvania (202)
9. Virginia (167)
10. Indiana (166)
Presented by Dallas Business Journal