Since the pandemic, Americans have been on the move. Changes and challenges often inspire people to change their permanent address, but it’s important that you have the right opportunities and sustainable ways to make a living when you relocate. Deciding to move your company to a new state is a huge decision. It’s important to consider a lot of factors like the economic climate, the regulatory environment, the availability of talent, the cost of living, infrastructure, and the overall quality of life. You’ll also want to consider logistics for your company such as market potential, the cost of relocation, and your long-term strategy. If you’re considering moving your business to Texas, you’re in luck. Read on to learn more about how to decide if a corporate move to Texas is the right move for you.
Consider the possible tax benefits. In Texas, corporations can keep more of their earnings due to the lower overall tax burden. There are also different property tax abatements and exemptions available for certain businesses in Texas. Some industries in Texas may qualify for sales tax exemptions or rebates. You’ll want to research what tax breaks might apply to your business; working with the Texas Economic Development Corporation can help. Tax breaks like these can help to reduce costs of doing business, incentivizing your relocation and expansion.
Boost your business. In addition to a tax-friendly environment, there are also many incentives, grants, and programs that help to support businesses. The Texas Economic Development Connection can help you to find the best kinds of opportunities for you.
Get familiar with the policies. The policy makers in Texas traditionally have prioritized the encouragement of economic growth and job creation. You can check out the Texas Comptroller’s office and the information they provide regarding the state’s tax laws and regulations. Or, better yet, connect with the Texas Economic Development Connection to work with them to identify some of the most business-friendly policies that apply to your corporation.
Work on a budget. There is a cost of living advantage in Texas—compared to many states. This means you’ll see savings in things like office space, benefits, supplies, and childcare. These savings can also benefit employees as housing costs can be lower in Texas too.
Know who you’re working with. Texas has a young, dynamic workforce. A large, growing population of talent comes straight out of many of the Lone Star State’s top universities. There are also skilled professionals in a number of different industries in Texas, adding to the depth and experience of the workforce.
Get familiar with the structure. Texas has an extensive infrastructure that continues to grow and become more up-to-date. The state is home to many major highways, big airports, and busy ports, which make it a hub for transportation, shipping, supply chain, and business overall.
Things are thriving. Texas has a lot of booming businesses in sectors such as healthcare, tech, and manufacturing. There are vibrant scenes that include startups, research, and dynamic development. This kind of healthy economy helps businesses throughout the state to thrive and to have opportunities for growth, collaboration, and innovation.
Customers are crucial. The great state of Texas has a population of more than 30 million. That means there are plenty of potential customers available, but you will want to ensure that you choose a location that’s just right for you. One of the things that the Texas Economic Development connection is most skilled at is helping businesses to find the best place in Texas for their business to succeed.
Think about where you are and where you want to be. Does the state you live in have too many restrictions? Is the local talent pool limited? Are you fed up with the many regulations that limit your company’s growth? Are you being prevented from making important investments into your company’s infrastructure? Is it time for a change? Moving to a place like Texas that can help you grow and succeed can change the trajectory of your business. The Texas Economic Development Connection can help you to connect with key resources in Texas. Their experts can also give great insights and advice when it comes to moving your business to the Lone Star State.
Instead of calling all the local economic development offices in Texas and rather than reading through extensive city websites for information, you can start by contacting the Texas Economic Development Connection. They can offer you accessible, comprehensive information about options for your business when it comes to making a corporate move to Texas.
Reach out to talk about all your relocation needs. Our experts have already gathered key data that you might need to move forward with your plans for a corporate move to Texas. Check out TexasEDC’s Relocation Planning tool that will help you learn more about how to get started, or give us a call at 214-775-0617.
