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The Business Market is Bigger and Brighter in Texas

by Ricardo Ramos on Aug 5, 2020
The stars aren’t the only thing that shines bright in Texas. As one of the   most diverse states in the U.S., Texas is the final stop in our virtual destination series. With wide-open fields, delicious Tex-Mex, and a business-friendly environment, it’s no wonder that the Lone Star State continues to be a magnet for top corporations.

VD-Graphics-10---smallEvery year, Allied releases its Magnet States Report in which we study our moving data to highlight key migration trends happening across the US. In our 2019 Magnet States Report, Texas secured its position as the number one destination state for our corporate clients for another year in a row. Texas, with its business-friendly climate, has been ranked as the top move destination for Allied corporate customers for the last six years.

According to our data, many of our corporate clients found their home in Houston. As one of the nation’s most diverse cities, Houston was the top destination city for our corporate clients. ConocoPhillips, Sysco, and Phillips 66 all call Houston home and benefit from its strong job market, low business costs, and pro-growth mentality.

Austin is also at the top of our clients’ minds. Ranking as the top destination city among our consumer clients, Austin is a highly desirable destination for top talent. Geographically centered in the Lone Star State, Austin benefits from a high concentration of major companies and tech start-ups located in the city, a lower cost of living, a healthy outdoor living culture, and an abundance of job opportunities.

Everything is bigger in Texas, especially when it comes to businesses. Exxon Mobil, AT&T, Dell Technologies, American Airlines, and many more world-renowned companies are all proud Texans who enjoy the pro-business tax environment, large workforce, and ideal central location.

TEXAS MEANS BUSINESS

Home to 50 Fortune 500 companies and 2.4 million small businesses, the Lone Star State is notorious for its pro-business environment. Continually recognized by Forbes and CNBC as the Best State for Business, Texas offers low business costs, a highly skilled and diverse workforce, and an abundance of open land.

The Lone Star State continues to attract businesses for what it lacks: income taxes. With no corporate income tax and no individual income tax, Texas supplies a highly competitive tax climate. As a powerhouse for business, the Lone Star State promises pro-business government policies and powerful incentives that help businesses grow and boost their bottom line.

Home to highly skilled talent and world-class schools, Texas businesses benefit from the state’s strong talent pipeline. Texas has the nation’s second-largest workforce with over 13 million Texans contributing to the state’s rapidly growing workforce. Since 2000, the state has welcomed six million people and continues to attract many more. The talent pool in the Lone Star State is rich with educated, highly skilled, and diverse workers.

Many businesses flock to the great Lone Star State for its central location, state-of-the-art infrastructure, and abundance of open land. With over 380 world-class airports, miles and miles of railway, and some of the nation’s largest seaports, Texas is an appealing state for businesses to call home. As the second-largest state in the U.S., Texas has no shortage of open land. Businesses looking to expand and grow have plenty of space to do so in Texas.

KEY INDUSTRIES

From advanced manufacturing to life sciences, Texas is home to a wide array of rapidly growing industries. Energy, information technology, and aerospace, aviation, and defense are among the many business sectors thriving in Texas.

As the energy capital of the world, Texas leads the nation in total energy production. The state’s ideal geography, abundance of natural resources, and skilled labor enable Texas to be the leading energy powerhouse in the nation.  Home to 25 percent of the nation’s proved natural gas reserves, 27 petroleum refineries, and the leader in wind generation capacity, Texas has more than enough energy to keep businesses going.

As the birthplace of the hand-held calculator, the Lone Star State provides the optimal environment for the information and computer technology industry to flourish. Home to some of the nation’s largest and innovative tech companies, Dell, HP, and Cisco all benefit from the state’s world-class research universities and diverse labor force. Other large tech companies like Apple have their eye on the state due to its low cost of living and pro-business taxes. 

Additionally, Texas is a powerhouse in aerospace and aviation. With over 130,000 Texans working at 1,300 aerospace and aviation establishments across the state, the aerospace and aviation sectors are a top contributor to the state’s economy. The Dallas-Fort Worth area is the state’s hub for aerospace manufacturing as well as the headquarters for top airlines like Southwest and American. Large companies like Collins Aerospace, Lockheed Martin, and L-3 Harris are attracted to the state due to its rich aerospace and aviation talent pool.

QUALITY OF LIFE

With low taxes, affordable housing, and world-class education opportunities, Texas boasts a great quality of life. Offering both city and country lifestyles, Texans enjoy just a little bit of everything in the Lone Star State, not to mention great food and recreation.

Texas is home to some of the fastest-growing companies in the nation and houses many diverse industries, offering its residents an abundance of job opportunities. The state’s strong job growth rate and low cost of living attracts transplants from all over the nation

As one of the most diverse states in the U.S., Texas has something unique to offer for everyone. Home to hundreds of barbecue restaurants, breweries, live music venues, theme parks, sporting events, and museums there’s no shortage of attractions in Texas. With more than 90 state parks, 191,000 miles of rivers and streams, on average 232 sunny days a year, Texas is the perfect place for recreational activities.

The Lone Star State has been at the top of our corporate clients’ lists for six years now. Will the low business costs, highly skilled workforce, and high quality of life continue to attract businesses this year?

The business market is bigger and brighter in Texas and if you’re looking to expand in this business-friendly state, we would be honored to play a role in this vital transition and move your business forward. Contact us to learn more about our corporate moving solutions: http://bit.ly/37gInnn

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