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

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Chicago

clip_image008 24%

NYC

clip_image009 131%

San Francisco

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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

Why locate to TEXAS? 

Texas combines its wide horizons and accommodating climate, its diverse population and healthy markets and a stubborn pursuit to create an excellent environment for business.

The State of Texas has worked hard to develop and sustain a business-friendly operating environment. State and local government provides tax incentives, financing assistance and an array of services to help companies establish or expand in Texas.

You have a lot to consider as you prepare to relocate or expand to Texas

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September 03, 2015 Categories: Texas

Texas strong: Economy remains resilient as oil prices fall 

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Oil prices can't mess with Texas.

Some economists warned last year that Texas could slide into a recession in 2015 as oil prices tanked.

Last week, prices hit a 6-year low to $42, down from $100 a barrel a year ago.

But Texas added jobs in five of the first six months this year. The state's 4.2% unemployment rate has actually ticked down a little this year, and it's well below the nation's 5.3% rate, according to the Federal Reserve Bank of Dallas.

The dramatic decline in oil prices would have spelled trouble for the Lone Star State, 30 years ago. But this time, it's weathered the storm quite well.

Sure, energy companies in Texas have cut jobs as their profits are shrinking.

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August 26, 2015 Categories: Texas