When you choose to relocate a business to a new state, there are so many things to consider. You want to choose the right region and space for your company’s location. You want to be sure you’ll have a strong local workforce and opportunities for your business to thrive. But there’s something else to be concerned about when you’re relocating: your employees. The human aspect of your business is arguably the most important part of it. It will be important for you to guide your employees through this big transition and to help them with any concerns they have about making a big move. Are you relocating your company to Texas? Read on to learn more about what your employees will be worried about if you are moving a business to Texas.
How high is the cost of living? While the great state of Texas has a relatively low cost of living compared to some other regions in the country, it’s important to consider your employees. According to recent data from the Missouri Economic Research and Information Center, the cost of living in Texas is the 18th lowest in the United States. Of course, the cost of living varies throughout the state. In that case, it will be essential to work with employees and ensure that their compensation is suitable for your region when it comes to costs for housing, food, and other necessities.
Are there good neighborhoods in Texas? There is a great variety of neighborhoods in Texas, from rural to urban and everything in between. The Texas Economic Development Connection has some great information on each of the regions of Texas—from the Alamo to Amarillo to the DFW Metroplex, and from Lubbock to Texarkana. Check out some of the write-ups on the regions of Texas, which offer some insight on industries and attractions in each part.
How will we find housing? In many areas of Texas, the housing market is competitive, and prices for renting and owning have been rising. Don’t let that stop you from making the move to the Lone Star State. It is possible to find affordable housing in Texas. According to Redfin, in August 2023, the median price for a home in Texas was $351,500. According to Zillow, the average rental cost in Texas is $1885, making it 8% lower than the national median. Work with local agencies to get connected to good realtors and rental agencies in Texas.
What about the weather? Texas is known for its hot summers and its relatively mild winters. The Gulf Coast is known to receive more rain, and humidity can vary from region to region in Texas. Overall, average temperatures can range from a low of 55° to 95° throughout the year. The best advice for people moving to Texas, just be prepared for the weather in every season.
Will we have good healthcare? Depending on what kind of health coverage your company offers its employees, they should have access to some great medical care systems throughout the state of Texas. Notably, the Texas Medical Center in Houston is home to one of the world’s biggest healthcare complexes, complete with hospitals and medical facilities. Dallas, Austin, Tyler, and San Antonio all have strong healthcare systems as well.
What is the tax situation in Texas? Overall, Texas has lower taxes than many of the states in the U.S. There is no personal income tax in Texas, but there are property taxes, sales taxes, and other costs to consider. For businesses, there are also great business incentives. Check out some of these great incentives by working with The Texas Economic Development Connection to see which ones might benefit your company.
Will I fit in with the Texas culture? Texas is not just cowboy culture and Friday night lights. There is farm and ranch land and football fields a plenty in the Lone Star State, but there are also fun and funky urban areas, bustling college campuses, and busy suburbs. There is classic Texas barbecue, but there is also a great offering of national cuisines. Overall, Texas culture is warm and welcoming. Like any move, it might take time to do some adjusting, but employees will be able to feel at home in their new hometown in Texas. Your employees can start getting to know their new neighbors with the Getting Neighborly podcast.
How can I connect with local resources? Ask some experts! The Texas Economic Development Connection has helped so many businesses make the move to Texas based on their tailored list of needs. The TexasEDConnection has great connections with community organizations and a finger on the pulse of so many different regions in Texas. As an employer, we can help you to get set up, and in turn, help your employees to settle in to Texas.
The Texas Economic Development Connection can help employers by setting up visits and helping to explore options for new locations in the state. They offer accessible, comprehensive information about options for moving your business to Texas. Check out their Relocation Planning Tool online, or reach out at 214-775-0617.
