Skilled, growing workforce with low taxes and competitive incentives, everything is bigger and better in Texas. An attractive climate attracts talent from colder climates and makes every working day much brighter. The Texas Gulf Coast is ideal for recreation. Stretching 367 miles, as the crow flies, along the northwest edge of the Gulf of Mexico, there are 3,300 miles of coastal snakes along the state's coast, islands, bays, and river mouths.
Overwhelmingly, net domestic migrants are moving to Texas from California, but as Jeff Salamon points out, Californians are no more likely to move to Texas than other interstate migrants, since California's population is so large, simply more Californians come than, say, Louisians or Dakota from the South. Not surprisingly, in two recent surveys, the site's CEOs and consultants rated Texas the “Best Business Climate” in all 50 states. The state's low taxes and friendly regulatory structure have led Chief Executive magazine to rank Texas as its best state for business for 10 consecutive years. That's why Toyota and Charles Schwab have moved their corporate headquarters from California to Texas; Apple has begun construction of a new Austin campus that will initially house 5,000 employees with the capacity to grow to 15,000; and SpaceX has continued to invest statewide in offices, development and space facilities launch.
In their blog, Kevin McPherson and Bruce Wright also add that the population of Texas has been growing at twice the rate of the United States for the past century based on decadal census rates, a trend that continues. Texas is experiencing a major boom that began long before its power grid was decimated by February's historic winter storm. Those considering moving to Texas may feel even more anxious once they calculate how the move will affect their family's standard of living and personal tax burden. In addition to the strong favor among top executives, Texas has no state income taxes, certainly a blessing for residents of other tax-burdened states.
This is why Texas has tools such as the Texas Business Fund, a “deal closing fund” for projects that offer significant projection of job creation and capital investment to ensure the growth of Texas businesses and create more jobs in Texas. That's why, as governor of this great state, I invite you to come and see why Texas Wide Open for Business is more than a promise that it's a reality. North Texas is also home to 24 headquarters of Fortune 500 companies, including powerful organizations such as AT%26T, ExxonMobil, American Airlines and CBRE Group (a good mix of industry here). For many years, Texas has provided businesses with the opportunity to grow and thrive in a state with unparalleled infrastructure, a world-class geographical location, a predictable regulatory environment, and a well-educated workforce of 12.6 million Texans.
As a global leader in economic development, Texas is committed to working with employers around the world to ensure ideal conditions for job creation and economic prosperity. I recently had the opportunity to attend a State of the State Address delivered by the North Texas Commission, a nonprofit organization dedicated to promoting business, commerce, and higher education in the area. Land in Texas costs about 40 percent cheaper than the national average, according to data from the Lincoln Institute of Land Policy, a research center.