Texas ranked 5th best state for business but among worst places to live, according to report

America’s Top States for Business review ranks states based on matters of economic development.

Vintage illustration of Greetings from Texas, the Lone Star State large letter vintage postcard, 1950s. (Photo by Found Image Holdings/Corbis via Getty Images) (Found Image Holdings Inc, Getty)

TEXAS – Texas is a great state for business, but among the worst states to live in, according to a new CNBC report.

CNBC’s Americas Top States for Business 2022 study ranked Texas fifth in the U.S. for business citing the state’s top strengths being its workforce, economy, low cost of doing business, and innovation and technology.

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But CNBC claims the Lone Star State is among the worst states to live in saying the state offers, “limited childcare options, a stressed health care system with the highest rate of uninsured, new curbs on voting rights, and few protections against discrimination.”

The CNBC 2022 report is an annual study that looks at all 50 states ranking them based on ten categories.

Each state is given a certain number of points, out of a max of 325 per category. The categories are weighted based on how frequently states use each topic as a selling point for economic development.

According to CNBC, the survey used data from various sources to draw conclusions for each category.

According to the study, Texas received 220 points for the cost of doing business, equating to an A, in technology and innovation, scored 193 points an A+, for the economy, Texas racked up 247 points with an A- and was A+ in the workforce field with 299 points.

With those high scores, Texas ranked number five as a top state for business. North Carolina was ranked No. 1 with Washington, Virginia and Colorado following.

Though Texas was ranked in the top states for business and economic matters, the state was deemed among the worst places to live by CNBC due to its shortcomings — partly for lacking to welcome millennial workers, according to CNBC.

“Many Gen Z and millennials will turn down jobs that don’t match their values,” said CNBC.

According to the CNBC 2022 study, Texas scored 72 points on the life, health, and inclusion subject matter, equating to an F.

According to CNBC, the Life, Health, and Inclusion category consider factors such as crime rates, environmental quality, health care, and childcare availability.

The Life, Health, and inclusion category also considered the inclusiveness of state laws for this grouping as well.

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About the Author

Emily Ramirez is a Digital Producer trainee for KSAT 12. She has written and photographed for several magazines and newspapers, including San Antonio Magazine, Austin Monthly and the San Antonio Current. A proud San Antonio native and graduate of Southwestern University in Georgetown, she is now completing her M.A. at UTSA.

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