Texas ranks No. 1 in nation for business capital investments

Of the $166 billion in capital investment made in U.S. projects last year, almost a third of that came from Texas. The Lone Star State recorded $48.3 billion in capital investment, which ranked No. 1 in the country, according to a report from Ernst & Young. The state also ranked No. 1 in mobile project jobs with 38,400. 

As a whole, U.S. capital investment in projects was up $16 billion but there was a 2 percent decrease in the total number of projected jobs. Chemical manufacturing facilities accounted for nearly 40 percent of investments, EY said. Of that, 70 percent chemical manufacturing is from new liquefied natural gas export facilities.

States along the Gulf Cost attract the most amount of investment and EY said for the fifth year in a row, Texas and Louisiana — ranked No. 2 — accounted for more than 30 percent of all announced investment.

“Many factors contribute to a company’s decision to invest in a particular location, and awareness of industry trends, workforce development levels and the availability of state and local tax incentives can help businesses choose where to locate their mobile capital investments,” said Andrew Phillips, Principal of EY in a prepared statement.

According to the report, the energy industry isn't the only sector where Texas and the southeast is shining. The region continues to attract job-creating mobile projects in financial and professional services, and chemical manufacturing as well.

The report defines mobile capital investments as encompassing a number of facilities, including headquarters, data and call centers, distribution centers, research facilities and manufacturing facilities. These investments can indicate a region or state's long-term economic growth potential as well as its competitiveness.