3 Reasons Texas is Best for Businesses
Texas’ most compelling selling points no longer have anything to do with size or stars. Top-ranked as one of the best states to nurture a business based on infrastructure investments and economic advantages, Texas continues to incentivize individuals and incorporated entities alike. Here are 3 reasons business is better (and bigger) in Texas:
1. Innovation Lives Here
There is no limit to what Texans will try and succeed at. Home of South by Southwest (SXSW), an annual convergence of anything and everything creative, innovative, industry-shaping, and culturally relevant, Texas offers exceptional advancement in every trade. A few thriving sectors in Texas include:
- advanced tech and manufacturing
- aerospace, aviation, and defense
- biotechnology and life sciences
- energy and sustainability
- information and computer tech
- petroleum refining
— not to mention the rampant community of entrepreneurial creatives including musicians, visual artists, and industrial engineers. It’s also important to highlight Texas’ efforts to find efficient energy solutions. Between the Texas Sustainability Research Initiative (TSRI) and the state’s dedication to leading the nation in wind power (producing more than 30% of U.S. wind-generated electricity), Texas is gearing up to change the world.
2. Impactful Infrastructure in the Works
Texas is in constant state of motion. Beyond simple transportation and roadway upgrades, infrastructure in Texas is a pivotal focal point. As the gateway for global trade networks, with more miles of public roadways, state highways, freight railways, airports, and Foreign Trade Zones than any other state, Texas requires innovative solutions for seamless travel. Texas featured heavily on the Bipartisan Infrastructure Law to reinvigorate public transit, teed up to receive approximately $3.4 billion over five years.
Part of that retainer will surely go towards the state’s high-speed rail, which is scoped to travel the 240-mile distance between Houston and Dallas in 90 minutes. The current design places more than 50% of the tracks to be elevated on viaducts to preserve access for landowners.
Large in magnitude and positive economic impact, the railroad’s small footprint will parallel that of a typical two-lane farm to market road. From the flood of new job opportunities and the emissions-saving transportation access, the benefits of this project are nearly incalculable.
3. Bureaucracy Benefits Businesses
One of the most incentivizing perks to starting a business in Texas is the low tax burden. Once again named the “Best State for Business” after 20 consecutive years, Texas offers entrepreneurial spirits and dreamers the landscape to succeed. Whether relocating or expanding their businesses, varied industry leaders recognize the myriad advantages in Texas’ economic structure.
Without the financial burden of corporate and personal income tax, risks become decisions and worries become strategies. There’s no fine print. Texas’ palatable business laws allow company owners to maintain state compliance without third party assistance. For an exhaustive understanding of the economic development in Texas, peruse this guide.
Texas Continues to Be a Leader in the Economy in 2024
These three reasons are just the tip of the iceberg— there are countless reasons Texas exceeds economic expectations. As 2024 perseveres, Texans refuse to accept mediocrity and continue to innovate beyond conventions.
