No, you don't pay (much) for heat in Texas, but you pay out the ass to remove the heat.
Like I told people who questioned moving to NH: the weather is just like Texas. Three months out of the year you hate going outside and don't know how you'll ever pay the utility bill. It's just December-February instead of June-August.
As for property taxes, it's not necessarily cheaper in Texas. For a house of similar valuation, my property taxes went up about $300 in NH, and I gained the bonus of not paying 8.25% sales tax. Car insurance is much cheaper in NH, too.
I still don't see how you end up paying more or even the same for utilities down there. Electricity is literally half the cost ($0.087 avg for state of TX, it is double that in NH). Combine the doubling in electricity rates up here with the price of oil and I do not see how utilities down there are more than up here. My parents house for example uses about $100/month in electricity average. Over the course of a year that is $1200. To heat their house with oil? They use 1200 gallons per year. So about $4200 at $3.50/gallon, and $5K at $4/gal. All total that is $5400/year for heat and electricity, assuming the lower oil cost.
Now down in Texas, even if you TRIPLE their current electric cost and apply that down in TX, which would be pretty remarkable since the TX rates are half that of NH's (that would mean the amount of electricity used would be 6 times their current amount
), they still would only pay $3600/year, which is still a savings of $1800 over their current utility bills. I understand things are a little different for a business paying for electric over a residence, but with the cost of heating fuel, you cannot tell me that a company would not save some serious money on utilities moving to a southern state like TX. The difference gets bigger real quick as the per gallon cost of oil goes up.
As has been mentioned, Texas is not a "free" state for the individual. But for a business moving from NH or CT, I guarantee you it looks a lot better. With the incentives Perry is giving to companies to make the move "free", the only issue they have is keeping their employees with them during the move. As I said in another similar thread, I don't envy any CEO having to make this decision (principles and cost vs employees and established location).
ETA: If my math is wrong let me know, I'm still tired and the caffeine is not working too well.