In recent years, Texas has emerged as one of the best places to do business. Since 2018, hundreds of high-performing companies have made the decision to move their headquarters to the Lone Star State. Some factors that businesses consider when choosing the best place to operate include good tax policies, a business-friendly regulatory climate, and a large desirable talent pool. While Texas is gaining a reputation as the new Silicon Valley, there are so many industries that are finding success. Texas is also growing as a place where manufacturing businesses can thrive. Read on to learn more about what manufacturing businesses should know about moving to Texas.
It’s a business-friendly environment. Texas is known for being a pro-business place thanks to its lower tax rates and minimal regulations. All of these business-friendly policies can help to significantly reduce the operating costs for your business. Compared to many other states, Texas tends to have fewer regulations for businesses. This can help companies to focus on growing their operations. The Lone Star State aims to strike a balance between business regulations and the freedom of businesses to operate so that the end result for all businesses is success. This has brought so many companies from out of state to Texas. For manufacturing companies, these business-friendly policies can help with a company’s growth and development.
You’ll be in good company. Texas has a super strong and diverse manufacturing sector, and it remains a top choice for manufacturers in many different industries. Big names like Lockheed Martin, Apple, Dell, and General Motors are all businesses with manufacturing facilities in Texas. This proximity to many other manufacturing businesses can help with building a skilled and experienced local workforce.
The talent pool is deep. Texas is home to a population of about 30 million people. It is also home to many institutions of higher education, which helps to keep the local school-to-work pipeline full of highly educated graduates. In addition to that, Texas has a growing population and plenty of top tier companies. This means there are many qualified workers in the Lone Star State. Of course, seeking workers with specific skills is essential for filling manufacturing jobs, and fortunately, manufacturing is one of the top industries in Texas.
A low cost of living helps. Inflation has been the norm in the United States in recent years. However, when compared to the national average, Texas offers an affordable cost of living. This is ideal for businesses and their employees. All of these lower costs can help with the recruiting and retaining of employees.
Great infrastructure makes for a great foundation. Texas has a prime location; it’s situated in a great spot in the United States. The Lone Star State not only has international airports, it also has access to major highway systems, railways, and ports. This helps to make it a strategic position for manufacturing businesses.
The available incentives and programs help businesses to succeed. In addition to many tax-friendly policies, the great state of Texas offers a number of different business incentives, many of which are especially beneficial to manufacturing businesses. Some of these incentives include the Skills Development Fund, the Texas Small Business Credit Initiative, the Texas Enterprise Fund, the Product Development and Small Business Incubator Fund, and the Original Capital Access Program. The Texas Economic Development Connection can help you with finding the incentives that are the best fit for your manufacturing business.
Location is key. There are so many different regions in Texas, and each region tends to have its own culture and feel. Each region also has a particular economic focus or specialized industries. If you need help choosing the best place to relocate your business in Texas, look to the Texas Economic Development Connection; their experts have a wealth of knowledge about which locations may best fit your manufacturing business needs as well as your company culture.
Consider the proximity to so much innovation. Because Texas has such a booming technology sector, manufacturing businesses can discover different opportunities to implement tech into manufacturing processes. This can help manufacturing companies to gain a competitive edge.
Is your manufacturing business considering a relocation or expansion to Texas? The Texas Economic Development Connection was born out of a desire to help Texas businesses succeed. With a goal to help build business communities, we help to match companies with the best location for them to do business in the Lone Star State. We consider a number of factors that will help you to find the best region that will give your business the best chance to thrive. We are familiar with the many regulations, incentives, tax structure, and business culture throughout the state, and we want to help make your move to Texas a success.
Reach out to the Texas Economic Development Connection. Call 214-775-0617 to start the conversation with some of the country’s best economic development professionals, small business advisors, and great vendors. The Texas Economic Development Connection wants to help your manufacturing business find a new place to call home in Texas.
