Hundreds of companies have moved their headquarters to Texas in recent years, including big names like Tesla, HP and Charles Schwab. They’ve been enticed by low taxes, light regulation and the promise to run their businesses on their own terms. But the FT’s Houston correspondent Myles McCormick explains that there might be limits to that message of economic freedom.

Clips from ABC News, CBS, Fox 26, KHOU 11

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For further reading:

Will US companies keep faith in the ‘Texas miracle’?

Beware the Texas advance on Wall Street

Texas group plans stock exchange to compete with NYSE and Nasdaq

For further listening:

Why Elon Musk is breaking up with Delaware

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On X, follow Myles McCormick (@mylesmccormick_) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more.

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Read a transcript of this episode on FT.com

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Is business better in Texas?

Behind the Money