Surely you have heard about the booming economy in Texas. In 2022, Texas’s GDP was $2 trillion, making it the second-largest economy in the United States. In addition to a fruitful job market and thriving businesses, so many things about Texas make it an attractive place to relocate. Texas has a diverse landscape with everything from mountains to beaches to forests. And Texans are known for their friendly and welcoming nature, making it a great place to make new friends and feel at home. Are you moving your business to Texas? Read on for 9 questions your employees will have if you are moving a company to Texas:
What is the cost of living in Texas? Texas is such a large state; it’s important to know that the cost of living varies from city to city throughout the state. Overall, the cost of living in Texas ranks as the 15th-lowest cost of living in the country. As housing prices hover at high numbers in many other states, the cost of a home in many areas of Texas continues to be about 15% less than the national average. Food and transportation costs also trend lower than the national average.
What are the state and local taxes like in Texas? Texas offers so many benefits for business owners. The Lone Star state has no income tax, and its property taxes are relatively low in some areas. The average property tax rate in Texas is 1.8%. The sales tax rate in Texas is 6.25%, lower than the national average of 7.25%. It’s important to note that in addition to the sales tax rate, there may also be local sales taxes in certain regions. It’s also wise to consider other taxes that could be incurred such as franchise tax, cigarette tax, and gasoline tax in Texas.
What is the job market like in Texas? The job market is quite promising in Texas. In 2022, Texas added more than 600,000 jobs. The state’s unemployment rate is a record low at 3.9%, and the good news just keeps coming. The job market in the great state of Texas is expected to see more growth in the coming years, as the economy continues to expand. So many factors contribute to the great Texas job market, including a skilled workforce, low cost of living, and a strong infrastructure. Texas is such a business-friendly environment with many laws, regulations, and benefits that make it easy for businesses to operate in the state.
What is the quality of education in Texas? Students in Texas have access to high-quality schools, and many of those schools place a strong focus on STEM. School work in STEM helps prepare students for careers in science, technology, engineering, and mathematics. These in-demand fields make STEM a great focus for students of all levels. Texas students also consistently score above the national average on tests like the SAT and ACT. The cost of tuition at public colleges and universities in Texas remains relatively low, making higher education more affordable for students.
What is the healthcare system like in Texas? Texas has a variety of public and private providers. In addition to having many great medical schools, the state has some of the best hospitals in the country. Throughout Texas, there are also a large number of community health centers that provide affordable access to healthcare. Employers ought to check healthcare costs in their region to help ensure employees will have accessible healthcare.
What is the climate like in Texas? Texas has a diverse climate that ranges from humid and subtropical in the east and southeast to arid in the west and northwest. Proximity to the Gulf of Mexico also influences weather in the east and southeast. There are occasional extreme weather events such as tornadoes, hurricanes, and even droughts. In general, Texas summers are hot and humid, while winters are mostly mild.
What is the crime rate in Texas? When considering the crime rate in Texas, it is wise to check out stats for your specific region. Crime rates vary throughout the state. Statistics can be found on the website for the Texas Department of Public Safety.
What is transportation like in Texas? The transportation system in Texas is evolving. Many modes of transportation are available including buses, trains, and planes. Most residents rely on cars to use on the network of highways and interstates in the state, and traffic can be heavy in some more populated regions. Investment in new transportation projects like light rails aim to improve the efficiency of transportation in Texas.
What is Texas culture like? The big, beautiful state of Texas has a big and beautiful culture to match. Texas is a melting pot that benefits from influences of Mexico, the South, and the Southwest as well as residents from all over the world. This shines through in Texas food, music, art, the arts, architecture, and even the music. Overall, Texans are laid-back and friendly, known for their warm hospitality.
With its strong economy and welcoming culture, Texas is a great place for businesses and families. The Texas Economic Development Connection offers business owners opportunities to speak with seasoned economic developers in Texas. They make learning about communities in Texas easy, as they help you to find the best for you and your company. Reach out to find out more about moving a company to Texas.