Living, working and doing business in Texas 

 

Besides the endless opportunities the different sectors in Texas provide for the start and growth of your business in the US, Texas also offers a great lifestyle.

Low costs of living

First of all, the employees don’t pay personal income tax to the state and there is also no corporate tax. Also the costs of living are lower in Texas compared to other states.

The mild regulations and weak unions result in lower costs to start a business in Texas. Utilities like gas, water and electricity are also relatively cheap, because Texas has his own power grid and Texas still provides his own oil and gas.

Texas is a massive state and because of this land-richness real estate is relatively cheap.

Also the strong economy, low employability rate and excellent school system, makes Texas an attractive state to move to with your family members.

Texas is wanted
Texas is hot and wanted. According to Forbes’ annual list of America’s Fastest Growing Cities 6 of the top 20 largest cities in the U.S. are in Texas. According to a report released by the Census Bureau, Texas is also home to 5 of the 11 fastest growing cities in 2016, with Austin as the #1. Hordes of people are moving in (3,15% population growth rate in 2016 and 3,28% increase in job opportunities). Also 5 of the 8 cities that added the most people in sheer numbers are also in Texas: Houston, San Antonio, Dallas, Fort Worth and Austin.

According to Chief Executive magazine, leaders favor states with fewer regulatory encumbrances and less federal or state interventions. Chief Executive asked 513 CEO’s to rank the states they are familiar with on the friendliness of their tax and regulatory regime, workforce quality and living environment (cost of living, education system and local attitude toward business). Texas has topped the list for 12 years in a row.

Reasons for attractiveness

Why is it that Texas has been able to retain its business attractiveness for such a long period? One of the reasons is the pro-growth policy decisions. The motto of the city is to keep Texas ‘the beacon of opportunities’ and business and political leaders in Texas know that they have to keep this motto going. After taking office, Gov. Abbott has continued and perhaps even intensified the business-friendly culture that was built by his predecessor, Gov. Perry. In Texas business and industry are working hand-in hand with policymakers to create an open market where business can prosper. Gov. Abbott has used the Texas Enterprise fund as a ‘deal closing fund’ to attract new jobs and investments to the state, which makes it easier for company decision-makers to choose Texas as the state to relocate their facilities. The perceived attractiveness of the lone star state is not only influenced by taxes and regulations, but also on migration between states and wise policy decisions; a lot of tax payers have changed their state of residency tot Texas in the past few years. In 2015, nearly half a million people moved to Texas. Another reason for this perceived business attractiveness is industrial diversification. Through industrial diversification, Texas has been able to overcome a decline in economic output resulting from lower oil prices and continues to court companies with its so-called ‘pro-business environment.’

Tech

Historically, Silicon Valley and Seattle have been seen as the tech meccas for the US, but over the last two decades this has changed. More and more companies that once looked at a location on either American coast as an advantage are now considering the logistical and cost advantages of locating in Texas. A good example is the North Dallas area, where a growing number of big companies are deciding to locate or relocate operations. Toyota, for example, is in the process of moving his headquarters and 4000 jobs form Torrance, California to Plano, Texas in 2017. There are more workers to be transferred from the Californian office to Texas than anticipated, because the employees found out what kind of house they can buy for the money compared with California.

Cost of living compared

The cost of living index as calculated by the Council for Community and Economic Research and published by PayScale, gives a grasp on how much the differences are. We have compared the cost of living in Austin Texas with other technical hubs like Boston, Chicago, New York City, San Francisco and Seattle. The cost of living index is based on the following categories: Groceries, Housing, Utilities, Transportations and Health Care. So for example, the overall cost of living is 45% lower in Austin, compared to Boston and 131% lower when compared to NYC.

Overall Cost of living index

Compared to …

Austin

Boston

clip_image007 45%

Chicago

clip_image008 24%

NYC

clip_image009 131%

San Francisco

clip_image010 72%

Seattle

clip_image008[1] 31%

 

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Whether it is groceries, housing, utilities, transportations or health care, Austin -and with Austin, Texas- gives you to most economical options to set up shop in the United States.

Posted by Mariella Priem August 11, 2016 Categories: Economy Texas

Texas is again the strongest economic partner of the Netherlands 

 

 

 

 

 

 

 

 

 

 

The Netherlands Business Support Office-Texas (NBSO- Texas) and the  Netherlands American Chamber of Commerce -Texas Chapter (NACCTX) proudly share the new US- Dutch trade and investment data analyzed by the Royal Netherlands Embassy. This data shows once again that the Netherlands and the USA have a partnership that works. But we are even more proud of the fact that Texas is (again) proven to be the strongest economic partner of the Netherlands among the 50 states. In Texas 86,000 jobs are supported by Dutch-US trade and investment in 2013 and the state is also the biggest exporter to the Netherlands, sending $6.8 billion in goods and services across the ocean in 2015. Curious about the opportunities for your business in Texas? Contact us at:  http://www.nbso-texas.com/ or http://www.nacctexas.org/ 

For more information on the Dutch-US trade and investment data, visit:

http://nlintheusa.com/economic-ties-2016/

Posted by Saskia Pardaans July 13, 2016 Categories: Economy Texas

BMW opens new vehicle distribution center at the Port of Galveston 

The BMW Group opened its new vehicle distribution center at the Port of Galveston on April 20, about a year after first breaking ground.

The new 44,000-square-foot facility at 1028 Harborside Drive was developed to better serve the New Jersey-based company's 45 BMW and Mini dealers in Texas, Oklahoma, Louisiana and Arkansas. The company expects to import and process approximately 32,500 vehicles annually at the new facility.

The new development sits on approximately 20 acres and spans two buildings where vehicle inspection, accessory installation, vehicle programming, and vehicle maintenance and storage are performed.

Why Galveston? BMW's Southern Region is growing faster than any other region in the U.S.," Stephan Reiff, vice president of aftersales for BMW of North America, said in a statement. "Building this facility allows us to continue to deliver the highest quality vehicles while providing faster delivery times to our customers."

WWL Vehicle Services Americas, a global provider of auto processing and outbound vehicle logistic services, owns and operates the facility under BMW Group on-site management. Approximately 40 BMW Group and WWL Vehicle Services employees will work at the facility.

 Michael Mierzwa, port director for the Port of Galveston, previously said in a statement that the new facility will help the port continue to be an economic engine.

 "With this new vehicle processing center, we are confident that the activity level of the port will continue to increase, including the creation of new livable wage jobs. We are pleased that our successful efforts to maintain existing world-class tenants and to attract additional ones continues," Mierzwa said in the statement.

Source: Houston Business Journal

Posted by Saskia Pardaans May 03, 2016 Categories: Economy

Mitsubishi Heavy Industries is moving its headquarters from New York to Houston 

Mitsubishi Heavy Industries moving its continental headquarters from New York to Houston is a big vote of confidence from a global corporation.

"When a company like this puts a headquarters here that signals to other companies that are on the East Coast or the West Coast, 'Hey I ought to be thinking about moving my headquarters to Houston,'" said Bob Harvey, the president and CEO of The Greater Houston Partnership.

It's big enough Governor Greg Abbott and members of Congress were here to welcome the new headquarters, which is relocating from New York.

"You could have chosen any place in the United States to make your headquarters. We are proud you chose Houston. You chose wisely," said Gov. Abbott. "It is even sweeter knowing that New York's loss is Texas' gain. This has been the result of quintessential Texas teamwork."

It comes at a time when Houston's economy is in a bit of haze, with low energy prices having a far-reaching effect. The latest numbers from the Texas Workforce Commission show Houston gaining in service and healthcare related jobs, but losing big in manufacturing, mining and retail.

That said, the Greater Houston Partnership reports there were 244 new companies that set up shop in Houston in 2015. So far this year, there are 89 and 1 in 5 come from foreign companies like Mitsubishi.

"Texas as you know, last one in the recession in 2008, first one out," said Texas Congressman Randy Weber, who attended the ceremony. "You heard a lot of discussion about how great Texas is. We're gonna make it through this."

Source: abc13

 

 

Posted by Saskia Pardaans May 03, 2016 Categories: Economy

Join the OTC from 2-5 May in Houston 

The Offshore Technology Conference (OTC) is where energy professionals meet to exchange ideas and opinions to advance scientific and technical knowledge for offshore resources.

OTC gives you access to leading-edge technical information, the industry’s largest equipment exhibition, and valuable new professional contacts from around the world.

 Its large international participation provides excellent opportunities for global sharing of technology, expertise, products, and best practices. OTC brings together industry leaders, investors, buyers, and entrepreneurs to develop markets and business partnerships.

Also the Dutch are very well represented this year. More than 45 companies will exhibit. And even more Dutch companies will attend the OTC to gain technical knowledge and make valuable contacts.

Posted by Saskia Pardaans April 07, 2016 Categories: Economy

BMW opens new vehicle distribution center at the Port of Galveston 

The BMW Group opened its new vehicle distribution center at the Port of Galveston on April 20, about a year after first breaking ground.

The new 44,000-square-foot facility at 1028 Harborside Drive was developed to better serve the New Jersey-based company's 45 BMW and Mini dealers in Texas, Oklahoma, Louisiana and Arkansas. The company expects to import and process approximately 32,500 vehicles annually at the new facility.

The new development sits on approximately 20 acres and spans two buildings where vehicle inspection, accessory installation, vehicle programming, and vehicle maintenance and storage are performed.

Why Galveston? BMW's Southern Region is growing faster than any other region in the U.S.," Stephan Reiff, vice president of aftersales for BMW of North America, said in a statement. "Building this facility allows us to continue to deliver the highest quality vehicles while providing faster delivery times to our customers."

WWL Vehicle Services Americas, a global provider of auto processing and outbound vehicle logistic services, owns and operates the facility under BMW Group on-site management. Approximately 40 BMW Group and WWL Vehicle Services employees will work at the facility.

 Michael Mierzwa, port director for the Port of Galveston, previously said in a statement that the new facility will help the port continue to be an economic engine.

 "With this new vehicle processing center, we are confident that the activity level of the port will continue to increase, including the creation of new livable wage jobs. We are pleased that our successful efforts to maintain existing world-class tenants and to attract additional ones continues," Mierzwa said in the statement.

Source: Houston Business Journal

Posted by Saskia Pardaans April 01, 2016 Categories: Economy

If a storm hits Houston...... 

protection is less costly than recovery

In 2008, Hurricane Ike slammed the Houston-Galveston region, making landfall on the Texas coast with maximum sustained winds of 112 miles per hour and  storm surge of 12-15 feet. Even though the Houston-Galveston region avoided the predicted direct hit, Hurricane Ike killed 80 people and caused economic damages totaling over $39 billion. Imagine the consequences if Ike had made a direct hit.

The clock continues to tick. Major hurricanes hit the upper Texas coast approximately every 14 years. History and science concur that such a “direct hit” threat to the region is not a matter of if, but when, it will occur.

This is not just a Houston-Galveston problem. The nation’s security and economy are extremely vulnerable during a storm surge event. At risk are the livelihoods and well-being of millions of residents, their properties, jobs and businesses. Devastating impacts include:

  • Disrupting transportation, including the interstate system, railroads and waterborne commerce
  • Closing ports, including the Port of Houston, the nation’s busiest port in foreign tonnage
  • Shutting down the nation’s largest petrochemical complex, which supplies 27 percent of America’s gasoline and 60 percent of the fuel used by the U.S. Department of Defense, causing fuel shortages and price increases on goods that use petrochemicals, including pharmaceuticals, plastic resins, detergents, cosmetics, and other synthetics
  • Irreparable environmental damage

Multiple lines of defense are being considered to provide comprehensive storm surge protection for the region. Texas A&M University at Galveston remains focused on further developing the proven method to stop the surge at the coast using a continuous coastal barrier or spine, also known as the Ike Dike Concept, based on proven technologies that have been used in The Netherlands and other parts of the world for decades. Meanwhile, the SSPEED Center at Rice University is concentrating its efforts on suppressing surge using barriers internal to the Galveston Bay system and non-structural alternatives.

Through coordinated and collaborative research efforts, both TAMUG and the SSPEED Center are committed to the development of a single surge protection plan that has multiple lines of defense to achieve the best overall solution for the region from an economic, environmental and social perspective.

For the past four years, regional momentum has been building to implement storm surge protection, recognizing that the region is every bit as exposed today to the devastating effects of storm surge as it was in 2008. More than 30 cities and municipalities, economic and industry organizations, such as the Bay Area Houston Economic Partnership, the East Harris County Manufacturers Association and the Harris County Mayors’ and Councils’ Association, have formally stated their support for storm surge protection.

It’s imperative that a collaborative plan for regional protection be developed and submitted for congressional approval and funding. First, however, a comprehensive initiative is underway to conduct several necessary studies, including an economic impact analysis; barrier design modeling; landscape integration; a calculation of cost/benefit ratios; and environmental mitigation

Texas has always prided itself on being a “can do” state, never being the kind to look for a handout. Although this is usually looked on as an admirable quality, in the case of storm surge protection, I think that it has been a detriment to our progress. Perhaps a greater deterrent has been the lack of political leadership up until now.

It is crucial that the Legislature supports a coastal barrier system, and it’s going to take strong political leadership to spearhead such a bill through the next legislative session in 2017. The people, homes and industries of the upper Texas coast, as well as the state's and nation's economy, must be protected. We cannot expect Congress to appropriate the necessary funds unless we stand united in this cause.

We can wait until our hopes and dreams, and possibly our lives, are swept out to sea when the next big hurricane hits, or we can do something now. Unfortunately, we too often are committed to recovery rather than protection. Meanwhile, the clock continues to tick.

Bob Mitchell

President, Bay Area Houston Economic Partnership

Posted by Saskia Pardaans March 04, 2016 Categories: Economy Water

Port of Houston Surpasses 2 Million TEU Mark in 2015 

The Port of Houston has for the first time ever handled more than 2 million TEU in 2015, the Port of Houston Authority announced Thursday.The new record beats the previous yearly record of 1.96 million TEU set in 2014.

“We are so pleased to witness this significant milestone in the port’s history as we continue to strive to advance the Port of Houston and solidify its position as America’s distribution hub today and for generations to come,” Port Commission Chairman Janiece Longoria said.

Executive Director Roger Guenther said, “Having the two millionth TEU crossing our docks today illustrates the steadfast guidance of the Port Authority’s leadership through the Port Commission and diligence of our staff to deliver exemplary service to our customers and validates that the port is ready for the increased cargo…and bigger things to come.”

The Port of Houston Authority says projections indicate continued strong growth in containers moving across Port Authority docks in coming years.

To help facilitate this growth, the Port of Houston Authority is investing about $700 million the next decade modernizing the Barbours Cut Container Terminal to increase efficiency, facilitate larger vessels and double the container handling capacity. Among other improvements, four new Super Post-Panamax ship-to-shore wharf cranes that were delivered this year are now in operation.

At the newer Bayport terminal, a state-of-the-art truck entry gate has streamlined truck processing, and a user-friendly mobile app for truck drivers has increased efficiency. Recently, the Port Authority processed a record 4,300 trucks in one day at Bayport, which opened in 2007 and is being built out according to its master plan. The terminal continues to show excellent service levels and low truck turn times.

Posted by Saskia Pardaans December 17, 2015 Categories: Economy

The Texas 'economic miracle' is far from finished 

greggabott

Freedom is the intangible but very real promise of Texas that encourages businesses to grow in the Lone Star State.

It's no surprise Texas is again ranked the best state for business—for the 11th year in a row—according to Chief Executive's survey of the nation's top CEOs.

Businesses succeed in Texas because we've built a framework that allows free enterprise to flourish. Less government, lower taxes, smarter regulations and right-to-work laws—these are the pro-growth economic policies attracting employers to Texas from states that overtax and over-regulate.

That framework also means innovation thrives here. More Texas entrepreneurs are willing to risk their hard-earned capital in new businesses and new jobs.

But a framework is only as solid as the foundation on which it is built. Here in Texas, ours is built on bedrock: Our greatest natural resource is the people of Texas.

Hardworking Texans have forged a strong and diversified economy, growing more jobs in Texas last year than any year in the history of our state.

Read the whole article here…

June 25, 2015 Categories: Economy