How Economic Growth in Texas Brings More Business

There’s no doubt about it: Texas is the place to be right now.

This is true for both businesses and individuals who are considering moving a move because their current location doesn’t seem to be allowing them to flourish.

Texas is teeming with economic opportunity and if you’re thinking about making a change in location, look no further than the lone star state!

Big Businesses Have Already Taken Notice

In 2019, Texas was ranked #1 in the nation for business relocations. Giant companies such as Toyota, Apple, and many others have taken advantage of the opportunities Texas offers and have moved operations (in whole or in part) into the state. This is due to the following reasons:

  • Texas is well-positioned as an exporter and actually exports more than any other state in the U.S.
  • In terms of competition throughout the world, Texas boasts the 9th largest economy overall.
  • With a population just shy of 30 million, Texas’s GDP was nearly 1.7 trillion as of 2021.

Naturally, there are also many other appealing aspects to Texas, such as their unique and beneficial tax laws:

  • In Texas, there is no state income tax for businesses or individuals.
  • Certain manufacturing operations are exempt from sales tax.
  • Property taxes were recently reduced, to the tune of $10,000.

For all these reasons and more, Texas affords tons of opportunity to businesses both large and small.

More People are Moving Their Families to Texas

Across the incredibly diverse state of Texas, you’ll find cities with various political slants from all parts of the spectrum. Millennials, growing families, retired couples, and individuals with entrepreneurial aspirations can all find something to love in Texas.

Texas offer a variety of experiences such as a wide selection of museums, concert venues, and places to grab a bite to eat. In fact, food trucks in Texas have become incredibly popular, and people from all over will flock to the state to find food from their favorite one!

In terms of education, Texas is ranked highly across the board. But especially when it comes to higher education, the state seems to foster an atmosphere that attracts many of the great entrepreneurial minds of our generation.

Universities such as Texas A&M, Texas Tech, and the University of Texas at Austin are well-known schools that consistently produce teams who make it into the playoffs in all sporting events. But beyond their athletic prowess, these schools provide an unmatched education which individuals such as Karl Rove and Neil deGrasse Tyson have cited as helping them to spur on their wildly successful careers.

Is it Time for Your Business to Move to Texas?

With all of the Texas economy growth, you may be thinking that it’s time for you to make the move. If so, the only question is: what are you waiting for?

There’s no better time than now to start your move to Texas. By doing so, you’ll enjoy incredible tax incentives (both business and personal), a phenomenal state for families to live in, and one of the most diverse places on Earth.

Come check out Texas for yourself!

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