If the state of Texas were a country, its economy would be one of the world’s top 10 largest economies. Aerospace, automotive, oil and gas, technology, and life sciences industries have all combined to help make the Texas economy super diverse and successful. Texas also offers a highly competitive climate as well as a host of other incentives. Read on to learn about 9 non-financial incentives to move a business to Texas.
Safe at home. The cities and suburbs of Texas are exceptionally family friendly and safe. This solid safety rating is great for businesses as well. Employers and employees both can have a number of suburban or urban options when it comes to choosing a place to settle down in Texas. Frisco, McKinney, McAllen, Plano, Laredo, and El Paso all rank among some of the safest cities in the United States.
Proximity to higher education is powerful. Not only does the Lone Star state have more than 1000 independent public school districts, it also has many great colleges and universities. Higher education can help train students and prepare them to succeed in the world of business and innovation. The University of Texas at Austin and Texas A&M University are two of the largest US universities. Rice, Southern Methodist University, and Baylor are just a few more top-notch Texas schools that offer great programs for learners.
Talent show. The nearness to great schools has some impact on the access that Texas has to top labor talent. In Texas, there is a large, talented labor pool, which offers great options for companies that need more qualified personnel. In addition to that, the workforce in Texas is—on average—younger than other states. This youthful quality helps to ensure that the talent pipeline will be successful now as well as in the future. Programs in place in Texas such as the Skills Development Fund can help companies to train their employees, helping to improve the quality of the talent pool too.
Company lunches and dinners are fantastic. Tasty Texas fare is one of the things the state is famous for. Texas is all about big flavors (and sometimes, big portions). Texas is well known for barbecue, beef brisket, chili, Frito pie, and tons of Tex-mex cuisine. If you’d rather do business over dessert, know that Texas is home to Blue Bell Creameries, which makes delicious flavors of rich ice cream. There’s also sweet favorites like Texas sheet cake, peach cobbler, and cowboy cookies.
Global accessibility. Texas—with its large size and central location—offers multimodal access to the whole world. It also has great corporate infrastructure; there are 29 official ports of entry. These ports—air, land, and seaports—are gateways to global trade, and they can be used across many different industries.
Warm and welcoming. Southern hospitality is world-renowned, but experiencing it as a business owner and Texas resident is incomparable. Texas has a strong sense of community support. As in many southern states, Texans are known for their friendliness. In addition, there’s a strong business community that has active chambers of commerce, economic development organizations, as well as other business organizations that can help to provide support and networking opportunities for entrepreneurs and businesses alike.
Work-life balance. When workers in Texas are not on the clock, they can enjoy all kinds of activities. From state parks to lakes, rivers, prairies and beaches, from rodeos and ranches to live music and museums, wineries, and art galleries, Texas is home to so many great attractions. A diverse range of recreational activities helps to make the state an attractive location for businesses and employees who like to make the most of their free time.
Pro-business environment. With fewer regulations and a lower cost of living, Texas makes it easier for businesses to start, grow, and thrive in the state. In addition, the large and diverse economy in Texas has a variety of industries and investors. This can help businesses to find funding and resources to expand.
A location for innovation. The great state of Texas is home to a vibrant innovation One example of this is Tesla, known for its innovative approach to sustainable transportation; it has a manufacturing plant in Austin. There’s room for more businesses of all sizes in Texas, too. There are many startups, accelerators, and incubators in the state, which creates opportunities for businesses to both innovate and collaborate.
Are you looking to expand or relocate your business in Texas? The Texas Economic Development Connection offers business owners, CEOs, and project managers the opportunity to speak with seasoned economic developers that represent cities throughout Texas. This helps to eliminate the expensive, time-consuming footwork you’d have to do on your own to find a new home for your business in Texas. There are so many great opportunities for businesses in Texas; the TexasEDConnection helps to find the best ones for you. Set up a call with us to learn more.