The Lone Star State: An Economic Engine

With more than 1,000 new projects underway in recent years—and home to more corporate headquarters than any other state—Texas has unsurpassed economic success. 

By Donna Clapp
From the September / October 2023 Issue


The Texas economy has experienced amazing growth in recent years, as evidenced by the fact Business Facilities recently ranked the state as having the Best Business Climate in the nation.

“The strength and sustained momentum of the Texas economy made the state a clear choice for Best Business Climate in this year’s rankings,” Business Facilities Editorial Director Anne Cosgrove said. “Taking the top spot this year is based not only on the impressive capital investment and job creation numbers, but also for diversity of industries, robust infrastructure, and a business-friendly regulatory and tax climate.”

“‘Made in Texas’ is already a powerful global brand. With significant, continuing investments in education and training, workforce development, infrastructure, and innovation, we are building an even brighter Texas of tomorrow for generations to come.”

— Governor Greg Abbott

Throughout 2022, the state successfully enticed more than 1,000 projects­—more than double the amount of the No. 2 ranked state. This achievement is expected to result in $44.75 billion in capital investment and create more than 35,000 jobs. Foreign direct investment played a pivotal role, contributing $16.3 billion and accounting for roughly half of the newly created jobs during that year. Advanced manufacturing within the state has witnessed remarkable growth, driven by substantial investments from semiconductor, electric vehicle, and aerospace/aviation companies.

Furthermore, Texas has become a favored destination for major corporations seeking a home for their headquarters. For the second consecutive year, Texas took the lead in corporate headquarters, boasting the highest number of businesses featured on Fortune magazine’s annual list of the 500 largest companies ranked by revenue. With 55 Fortune 500 companies headquartered in Texas, the state significantly outpaces California (home to 53) and New York (50).

“Texas is the headquarters of headquarters,” Governor Greg Abbott said. “With our strong and growing workforce and welcoming business climate, Texas is where businesses find the freedom to flourish and people find opportunities to prosper.

“‘Made in Texas’ is already a powerful global brand. With significant, continuing investments in education and training, workforce development, infrastructure, and innovation, we are building an even brighter Texas of tomorrow for generations to come.”

Robert Allen, President and CEO of the Texas Economic Development Corporation, said the number of diverse Fortune 500 companies headquarted in Texas is an “important indication” of the state economy’s strength and durability.

“CEOs tell us that they relocated to or expanded their business in Texas because of the exceptional business climate and the level of diversification of our industry sectors, which has made a significant impact on their ability to be competitive in domestic and global markets,” Allen said. “The presence of these Fortune 500 companies in Texas shows that Texas has a lot to offer both big and small businesses. And, in turn, they have much to offer Texas.”

The Fortune 500 list, compiled using revenue data from fiscal year 2021, encompasses companies across 232 cities in 37 states. These entities collectively contribute to two-thirds of the nation’s gross domestic product (GDP), boast $16.1 trillion in total revenue and provide employment to 29.7 million individuals globally. Texas has the ninth-largest economy on a global scale, commanding a GDP of $1.985 trillion.

Hamilton, Texas: A City Of Strategy

The state of Texas is booming, and the city of Hamilton has the space to welcome new and expanding businesses. Hamilton is a city of strategy, located at the intersection of U.S. Highway 281 and Texas State Highway 36. Hamilton is less than two hours from Abilene, Austin, or the Dallas/Fort Worth Metroplex, making it a prime location for warehousing, transportation, or manufacturing. Hamilton has an established agricultural community, providing direct access to knowledgeable and experienced professionals.

Looking to start or relocate a small business? Hamilton has welcomed nine new downtown businesses so far in 2023—a hamburger restaurant, clothing boutiques, and a health and wellness shop to name a few. Buildings are available for sale or lease, and a few established businesses are for sale to include buildings, parking, and inventory, providing a turnkey business with an immediate return on investment.

Texas Business Climate
Rendering provided by the Texas Historical Commission in honor of the First Lady of Texas visiting Hamilton. Woody’s Hamburgers opened in the Spring of 2023, repurposing an old fuel station. (Photo: Texas Historical Commission, Design by Bryce Hendrickson and Jamie Crawley, AIA)


The Hamilton Historic Main Street (HHMS) works directly with the Hamilton Economic Development Corporation (HEDC) to guide and mentor new business owners and entrepreneurs. The HEDC offers a number of grant opportunities all year. If you are starting a new business, expanding a current business, or looking to renovate a building, the HEDC has a grant program available to you. The HEDC has provided more than $130,000 in grants and community improvement projects thus far in 2023. In addition to grant programs, the HEDC offers a Merchant Beginnings Program, a comfortable step between entrepreneur and store owner. The knowledge and experience gained during this program helps establish a full-time retail location.    

Need something more than just direct highway access? The Hamilton Municipal Airport is the largest in the region, with a 5,012-foot-long runway with plenty of ramp area for private jets. The airport also provides self-service fuel (Jet-A and 100LL), emergency T-hanger space and a courtesy car available 24 hours a day. Coming soon, a 10-unit airplane hangar with a jet pod.

Sometimes having space isn’t enough, and you may need to relocate employees and their families. Here are a few additional reasons to consider Hamilton:

Hamilton Independent School District (HISD) is a Texas-accredited school district, serving students in grades Pre-K through 12th grade. HISD is classified as a 2A district and received a score of 89 (“B”) in the latest accountability ratings, earning multiple distinctions.

Hamilton General Hospital is an award-winning facility, recognized by the National Rural Health Association for Best Practice in Patient Satisfaction. It has a dedicated team of health and wellness professionals, multiple health care clinics, specialty clinics for behavioral health, ER services, and a wellness center.

The city also maintains several hundred acres of parks and open space, including a tournament-rated disc golf course, baseball/softball fields, skate park, rodeo arena, swimming pool, and a scenic trail.

Hamilton offers the intimate setting of a historic Texas town, with the conveniences of quality health care, education, career opportunities, recreation, and more.   

For more information, visit

Continue reading…


Please enter your comment!
Please enter your name here