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Texas ranks No. 3 best state to start a business in U.S., report says

Texas ranked behind Utah, No. 1, and Florida, No. 2.

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For years, Texas has been lauded for its business climate being welcoming to new businesses and startups. A new study shows that the Lone Star State has yet again made the list.

Texas ranked third in personal finance website WalletHub's recent report, 2023's Best & Worst States to Start a Business, with a score of 56.85 points. Texas ranked behind Utah, No. 1, and Florida, No. 2, and just ahead of Colorado. Idaho, Georgia, Arizona, Nevada, Oklahoma, and California make up the rest of the top 10, respectively.

The study looked at 27 key indicators of startup success across all 50 states. Texas was recognized for these factors in particular:

No. 10 – average growth in number of small businesses
No. 30 – labor costs
No. 10 – availability of human capital
No. 4 – average length of work week (in hours)
No. 14 – cost of living
No. 13 – industry variety
No. 31 – percentage of residents who are fully vaccinated against COVID-19

Source: WalletHub

Richard Ryffel, professor of finance practice at Washington University in St. Louis, noted the importance of policy in making a state a good place to start a business.

"Established businesses looking to expand might expand or relocate entirely based on the relative favorability of the local business climate," Ryffel says. "Recently, Texas, for example, has been the beneficiary of some significant business relocations based on its business-friendly policies."

The methodology of the study focused on three key dimensions — business environment, access to resources, and business costs — and 27 relevant metrics. Each metric was graded on a 100-point scale, and then each state’s average across all metrics was used to calculate its overall score.

In 2022, WalletHub named Farmers Branch one of the best small cities in Texas for starting a business. It appeared at No. 102 on the list overall, and No. 2 in Texas. Other DFW cities in the survey included Haltom City (No. 406), The Colony (No. 436), Grapevine (No. 457), and Flower Mound (No. 733).

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This article originally appeared on our sister site InnovationMap.

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Police News

Fort Worth police officer fired for unjustified use of force

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A Fort Worth police officer has been terminated following his involvement in a use of force incident. According to a release, Officer Matthew Krueger was let go on December 18, following an investigation into an incident involving someone who was videotaping his actions while he was on duty.

On Sunday, June 23, Fort Worth police officers responded to a hit-and-run collision near 1000 Foch St. The incident involved a suspected intoxicated driver who crashed into another vehicle and a structure before fleeing the scene on foot.

While officers were investigating, a woman approached them and used her cell phone to record their actions. Krueger asked and advised her multiple times to move across the street. When she failed to comply, she was placed under arrest.

During the arrest, Krueger used force to take the woman into custody, resulting in injuries that required medical care at an area hospital.

After being treated, the woman was released from the hospital, booked into jail, and charged with interference with public duties, resisting arrest and/or detention, evading arrest, and making a false alarm or report.

Krueger had been with the department for just under eight years and was assigned to the Patrol Bureau at the time of the incident.

The Fort Worth Police Major Case and Internal Affairs Units began immediate and congruent investigations. Krueger was transferred from Patrol to a unit with no public interaction, pending the outcome of the investigation.

After a review of the Internal Affairs investigation, Krueger’s chain of command determined that the level of force used was unjustified and violated departmental policy. Police Chief Neil Noakes concurred and terminated Krueger’s employment.

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