Texas listed as top destination for corporate moves in 2020

By NewsRadio 1080 KRLD

Texas was once again the top destination for corporate moves in 2020. The data comes from Allied Van Lines who oversaw many of the relocations.

The top five destination states for corporate moves were Texas, California, Illinois, Florida and North Carolina, with Houston being the top destination city for the second straight year.

Texas economist Dr. Ray Perryman says "it's not an official statistic, but it is an interesting barometer of what goes on in the economy."

Dallas and Austin also saw substantial inbound moves.

Doctor Perryman says "it's been a challenging year because the pandemic has made it especially hard to do a significant relocation and many more that might have occurred have been deferred."

What makes Texas so attractive? A competitive economy, a young workforce, business friendly regulatory structure and the state's renowned economic incentive packages. However, Doctor Perryman says there are warning signs that could slow down future growth in relocations. "People are growing concerned about the quality of the public education system where we don't rank so well." He adds, "while the state's large cities are making their communities more inclusive, the state as a whole is not."