Texas tops the list of America’s best places to do business and for good reason. The combination of a well-educated, high-performing workforce along with moderate tax policies and regulation are some of the main reasons why new companies are choosing to launch in the state. Established companies continue to flock to vibrant cities such as Houston, Austin, San Antonio and Dallas, and new companies come here to be counted among the country’s top movers, shakers, and innovators.
Established companies and startups make their home in Texas
Many Fortune 500 companies make their home in Texas, including AT&T, Dell, American Airlines, Southwest Airlines, Sysco, Waste Management, ExxonMobile, Whole Foods, and a host of other major brands that America equates with quality and trustworthiness.
With more than 2.4 million small businesses registered in Texas and an economy of $1.6 trillion, the state is second only to California for its economic strength. Job growth continues to climb and the cost of doing business here is 11.4 percent below the national average.
Business taxes are much lower and any essential business materials and machinery is tax-exempt. This includes software, research and development-related materials, manufacturing equipment, and more.
Quality of life reigns supreme in Texas
But all of these great statistics can’t compare with the quality of life here. On top of all the business incentives, Texas just can’t be beat for all the ways in which it makes living so much better.
Low cost of living
For instance, the cost of living here—even in big city centers—is much lower than other major American cities. Real estate costs about 40 percent less in Texas, so it’s much more feasible for young people to own their homes and start building legacy. Purchasing locations for brick-and-mortar locations is similarly lower, as is the cost of purchasing health insurance, food, rent, and utilities.
Great climate
Texas boasts a sub-tropical climate and gets little snow and frigid weather even during deepest winter. Sure, there can be a little snow in Austin, but not even enough to warrant a shovel.
Beach living
The Gulf Coast boasts well over 3000 miles of shoreline, making Texas a great year-round leisure destination for kayaking, boating, swimming, surfing, fishing, and so much more.
No taxes? No kidding!
There is no state income tax in Texas, meaning that April 15 won’t take as big of a bite out of your budget.
World-class entertainment
Texas doesn’t do anything halfway. Austin is Texas’ music capital, home to the world-famous South-by-Southwest (SXSW) festival, and to thousands of bands and performing artists representing every genre from rock to blues and roots, country, jazz, and everything in between. And if they don’t call Austin their home, they flock here in droves – think Austin City Limits, who has hosted the Red Hot Chili Peppers, Pearl Jam, Oasis, and more.
Rounding up
In conclusion, the benefits of starting a business in Texas are almost too good to pass up. With an easy regulatory environment, low licensing fees, high job growth, access to high-quality, skilled employees, and a low cost of living, you’d be hard pressed to think of reasons not to start a business here.
If you do business in the Austin area, Heritage Office Suites has two convenient locations to serve you in Round Rock and Georgetown. With virtual office packages, dedicated office space, meeting rooms on-demand, and dynamic coworking facilities, we’ve got the perfect setup for you. Schedule a tour today.
