As the country gradually pulls itself out of the worst recession in decades, it's interesting to note that some states have fared better than others.
Although a state's unemployment rate is a good indication of its level of job creation and emerging markets, it is not indicative of its economic viability.
For example, the nation's third highest unemployment rate is hosted by California, which has long been the largest economy in the U.S. and one of the largest worldwide. Companies still flock to Silicon Valley for its rich culture of entrepreneurship, and its massive $1.8 trillion GDP remains significantly above chief rival Texas.
However, in terms of its emergence from the recession, Texas has fared much better than not only California, but every other state in the country, suggesting to many entrepreneurs to incorporate in Texas.
"Our state offers companies an unparalleled competitive edge, with the lowest per capita tax rates in the nation, no personal income tax, close proximity to strategic markets, cutting-edge infrastructure, excellent schools and a skilled workforce," said Texas Governor Rick Perry in a recent statement touting his office's new online Texas Economic Development Guide. "We will continue to make every effort to ensure that business and industry thrive in our great state."
Tags : ca, incorporation news, small business management, tx
Posted: Dec 13th, 2010