It’s no secret that many corporations have moved their headquarters to Texas over the past few years. However, you may be asking: why Texas is right for my corporation? According to the U.S. Census Bureau, the Texas population in 2019 grew at a rate of approximately 1,000 people per day. It’s not too late for your corporation to consider relocation to Texas, and these are a few reasons why Texas is right for your corporation.
Why is Texas Right For Your Corporation?
This year, Texas was named sixth in the “Best State for Business” and is still ranked as the ninth-largest economy out of the world’s nations. These rankings have led to large corporations relocating to Texas. These are a few reasons Texas is one of the top ten “Best States for Business.”
- Texas has a booming economy
- Low unemployment rate
- Doing business in Texas is affordable
- Texas has a favorable tax climate
- Texas has a large skilled workforce
- Texas has excellent infrastructure and transportation
Texas Economy
In 2022, Forbes reported that Texas now leads the nation in the number of Fortune 500 companies that are headquartered in the state. Companies from Hewlett-Packard to Tesla have made Texas their new home. More than 20 have relocated to the Dallas-Fort Worth Metroplex.
Texas has no corporate income tax
One reason your corporation should consider relocating to Texas is that Texas does not impose a corporate income tax. Texas currently has a franchise tax, which is a fee a company pays to do business in Texas. This fee does not apply to profit. Income tax applies to a company’s profit. Texas also does not have a personal income tax which can be a significant benefit when recruiting top talent. Low taxes tend to go hand in hand with more affordable living. When compared to other states, Texas is highly affordable.
Central Location
Texas is centrally located within the continental United States and has access to many major highways, interstates, and railroads. Texas has 380 airports, and has the second-largest state airport system in the country, providing plenty of flexibility when it comes to business or leisure travel.
Recruiting
Texas is home to several Tier One universities, such as the University of Texas at Austin, Baylor, and Texas A&M. This means your corporation has access to top-level talent!
These are just a few reasons to consider relocation to Texas and why Texas is right for your corporation. If you’d like to speak to one of our experienced team members about relocating to Texas, please do not hesitate to fill out a contact form, and we will get back to you as soon as possible. We look forward to working with you!
