Texas is known for its vibrant startup scene and cultural diversity. It’s also an excellent place for entrepreneurs and innovators to expand their reach. Whether you’re just starting or are looking to grow your company, here are some reasons why Lone Star State is the ideal location.
Texas is a great place to do business. According to the 2016 Business Climate Survey, over 90% of companies in the state rate it as either excellent or good. Its low tax burden, skilled workforce, and healthy economy make it an ideal location for investors.
Here are some of the reasons why Texas is such a famous state to thrive in the United States:
1. Economy Is Thriving
If Texas were a country or a nation, it would be one of the most extensive economies in the world, and it trails only California in terms of GDP. Toyota, Oracle, and Hewlett-Packard have relocated their headquarters to the state. In addition, more Fortune 500 organizations are in Texas than in any other state.
2. Entrepreneurial Spirit Is Top-Tier
The state has an ideal environment for new businesses. According to a survey by WalletHub, Texas is the best state to start a business in the country. Business owners and CEOs cited the state’s low-tax environment and access to resources as factors that made it an ideal place to start a business.
The tech industry in Austin has been called “Silicon Hills” by various media outlets, and it’s also a thriving startup community. Dallas, however, is taking steps to attract and retain entrepreneurs. Economic development tax incentives offered to business owners and entrepreneurs are very beneficial, even for startups.
3. Workforce Is Strong
One of the most critical factors a university must consider when recruiting top talent is the availability of top talent. In Texas, various top universities are known for their academic excellence. These include Houston’s Rice University and the University of Texas at Austin.
In Fort Worth, TCU and SMU have distinguished business and engineering programs. Having top schools in your area is a great way to attract and retain talent. It also provides current employees with the opportunity to earn graduate degrees.
4. There Is a High Quality of Life
Besides being a tech hub, Austin is also a great foodie city. Dallas was recently named the Restaurant City of the Year. In Texas, the lower cost of living and the state’s no-income-tax make metro areas such as San Antonio and Houston more affordable for employees.
Houston and Fort Worth have plenty of museums to choose from. The former’s museum district features 19 different establishments, while the latter’s cultural district features some of the world’s most prominent art museums, such as the Kimbell Art Museum.
The state of Texas is a great place to do business. It has a variety of industries that will continue growing due to the increasing number of people. Last year, the state led the country in population growth.