Florida, Texas rank as top destinations for relocating businesses [Video]

The exodus from high-tax states accelerated over the past decade as Republican-controlled states saw an influx of businesses.  

Texas and Florida led the nation between 2010 and 2019 in attracting businesses relocating from other parts of the country, according to a new report published by the Federal Reserve Bank of Dallas. 

More than 25,000 establishments relocated to Texas during that period, bringing more than 281,000 jobs with them. That offset the 18,000 establishments that left the state, costing about 179,000 jobs. In total, Texas saw a net migration of 7,232 firms and an addition of nearly 103,000 jobs – the highest among any other state in the country. 

In net jobs gain, Texas was by trailed Florida, Georgia, Michigan and Arizona.

Florida, meanwhile, was the top destination for businesses looking to relocate, followed by Texas, South Carolina, North Carolina and Arizona.

The report said Texas appeals to businesses for a …