Texas is renowned for its skilled and growing workforce, low taxes, and competitive incentives. It's no wonder that businesses are so eager to move to the Lone Star State, as it offers a zero percent tax rate at the state level. This makes it an incredibly attractive option for companies looking to relocate their headquarters. However, this comes at a cost, as the state must find other ways to generate revenue.
CNBC recently highlighted the story of tech startup Bractlet and why its co-founders chose to do business in Texas. The state is known for its 'go big or go home' attitude, and entrepreneurs don't have to feel alone or lost on their journey. Despite the fact that no one will openly admit it, Texas still has some built-in obstacles in its electoral system that legislators have spent a lot of time tinkering with. Texas is currently leading the nation in job creation and plans to continue this trend over the next decade and beyond.
With a civilian workforce of more than 14 million, unparalleled access and investment in infrastructure, and the nation's largest closing fund, Texas provides businesses with an incredibly advantageous climate for expanding and relocating. The combination of city access points plus educated graduates looking for new jobs is beneficial to startups that are ready to take their business to the next level in their first year. With more than 380 airports across the state, new faces arrive every day to explore the sights and sounds (including a lively music scene). As if that wasn't enough, Texas was recently named as the best overall state to start a business.
One of the advantages of starting a business in Texas is its access to top-notch schools and students. The website explains why businesses should choose Texas, as well as the advantages and resources entrepreneurs can use for their state businesses. On the other hand, states such as California, New York, Illinois, New Jersey, and Washington are considered some of the worst states for business due to their high taxes and poor working conditions. The lack of income taxes coupled with a thriving economy continues to make Texas an attractive option for startups.
Local universities such as the University of Texas make it easy for companies to find talented team members. Ultimately, it's no surprise that businesses are so eager to move to Texas - even if they can treat their employees like complete garbage.