With increasing awareness of the importance of teacher quality for student learning, education policy leaders have turned their attention to the nation's teacher training programs as a potential target for reform. One proposed strategy is to increase competition for university-based programs by encouraging new program types. This study examines the relative effectiveness of universities and new program types using the diverse market in Texas. We examine program effectiveness through a framework integrating certificate pathways, organizational goals, and market incentives. We find that independent nonprofits have positive effects on student performance in math that are not explained by teacher sorting or program selectivity. Effects of program types vary across student and school demographics, and some types are particularly effective with high-risk populations. However, some program types are not available to all schools, and thus small differences between program types do not justify focusing reforms on any one type of program.