Texas continues to dominate the major corporate location and expansion landscape in the US, winning Site Selection magazine’s 2024 “Governor’s Cup” for an unprecedented 13th year in a row. The Cup is awarded annually to the state with the most projects involving a capital investment of at least $1 million, 20 or more new jobs, or at least 20,000 square feet of new construction. The 2024 total was the highest ever for Texas.
Texas gained 1,368 projects, up from 1,254 in 2023. The Lone Star State’s total more than doubled second place Illinois, which had 664, and far outpaced Ohio (565), California (323), Georgia (262), North Carolina (261), Florida (247), and New York (231). For the fourth consecutive year, Texas had over twice as many projects as any other state.
The largest project was in the electronics sector, with a $10 billion investment, followed by two IT and communications sector projects, with investments of $8 billion and $6.1 billion. Eleven of the top 25 projects in Texas were technology-oriented projects, and they’re located across the state. Chemicals and plastics projects along the Gulf Coast were also among the 25 largest, and other industries represented include consumer products, business and financial services, energy, automotive, life sciences, and food and beverage. Major initiatives are moving forward throughout the state, with big cities and smaller towns alike being well represented.
