Economic development professionals estimate that about 200 companies are either moving to Texas or expanding their operations in the state in 2022. Although each company is different and each decision is driven by different factors, here are a few answers to the question: why move to Texas.
One of the reasons to move to Texas is the state’s tax environment
No corporate income tax: The state’s favorable tax environment is one of the top attractions for company owners and corporate executives. Texas does not have an income tax for corporations, making the tax environment particularly appealing for companies with a high profit margin.
No personal income tax: Texas is one of the few states in the USA that doesn’t have a state income tax. With state income taxes ranging from one percent to more than 13 percent this can be a definite advantage, especially for high earners.
A great workforce is another reason why to move to Texas
Talented workforce: Texas has seen investment in its workforce as a positive for generations. From IT professionals to front line service employees, the Texas workforce is eager – and qualified – for the jobs your company will bring to the state.
Strong talent pipeline: With an array of prestigious colleges and universities as well as a network of trade schools and community colleges, Texas – and its education system — is focused on developing the workforce of the future. No matter what your future employee needs are, you’ll find them in the Lone Star state.
Texas infrastructure supports its business community
State-of-the-art infrastructure: Infrastructure investment continues to be a priority in the state, which is meeting the infrastructure needs of technology-dependent companies like Tesla, Dell, Oracle and AT&T. The state also boasts more miles of public roads and freight rail than any other – with more than 300,000 miles of road and more than 10,000 miles of rail.
Global access: Texas is home to 26 commercial airports, 16 seaports as well as a web of interstates and rail networks, offering companies access to the world. Houston, which has the largest port in Texas and on the Gulf Coast, sports the nation’s largest petrochemical complex. Cross-border trade is booming at the state’s international border crossings that can be found from El Paso to Brownsville.
Businesses that move to Texas can count on the environment
Predictable regulations: From small towns to the state house, the Texas political structure is focused on being business friendly and regulation adverse. Legislation is carefully analyzed to minimize the financial impact on companies large and small, leading to a regulatory environment that is attracting companies from throughout the country.
Predictable weather conditions: Except for a few news-generating anomalies, the weather in Texas is predictable, with few instances of snow and ice and long summers of dry weather. If your business depends on the weather you will be able to determine what to expect.
If you’re ready to find your own reasons why to move to Texas, schedule a call with Texas Economic Development Connection today.
