Every day, it seems like more and more companies announce that they are moving operations to Texas. From Toyota setting up their main offices in Plano, to Apple expanding operations into the state; it’s clear that Texas is becoming more attractive to massive businesses.
But is there a reason why Texas has become the ideal state for big business?
In this article, we will examine the primary reasons why businesses are moving to Texas.
Texans do not have their income taxed as individuals. Similarly, corporations are not taxed in Texas. This right is guaranteed by the Texas state constitution and is one of the main reasons why businesses are so attracted to the state.
Without the burden of income taxes, companies are able to expand operations much more than they would be able to in another state. Furthermore, they are able to divert extra funds toward improving facilities and products. Without this tax exemption, these businesses would instead have to dedicate more money toward tax payments.
Certain industries can also take advantage of sales tax exemptions. For example, manufacturing companies are not compelled to pay sales tax.
Clearly, Texas’ tax laws alone could be reason enough for companies to move to the state. But there are further benefits which make the state even better for businesses.
The Best and Brightest Workforce
Texas is home to many phenomenal universities which have produced some of the greatest innovators of their generations. For example, astrophysicist Neil deGrasse Tyson graduated from the University of Texas at Austin, along with many other free thinkers.
Texas fosters an atmosphere of competitive spirit and skilled workers are flocking to the state in huge numbers. In fact, Texas has maintained the top spot for population growth for 10 years and counting.
Due to its positioning in the center of the country, Texas is well-equipped to handle cargo traveling by train, plane, and truck. For almost 20 years, Texas has exported more than any other state in the U.S. and by all accounts, it will continue to do so for many years to come.
As a massive hub for transportation of people and goods, Texas continues to provide reasons for businesses to set up shop in the Lone Star State.
Something for Everyone
Besides the many appealing aspects outlined above, Texas is simply one of the best places to live in the entire country. There is something for everyone: rich culture, low costs of living, excellent education, and so much more.
No matter what type of business you run, interests you have, and anything else that could factor into your decision to move to a new state; Texas has what you’re looking for. For all of the above reasons, it’s no wonder that so many businesses have decided to move operations to this great state.
In all likelihood, many more businesses will continue to make the move to Texas as time goes by. It’s hard to resist the temptation!