Much of the US has seen and even felt the impact dominating states such as New York, California and Massachusetts can have on economic climate for the entire country. Drawing in growing populations and corporate profits, these nationally leading states have long maintained an upper hand for attracting the best and in turn providing the best to those who live and operate in their area.
Renowned places like California’s Silicon Valley has been the place for well-established and up and coming tech companies while New York’s financial district leads the pack and Massachusetts dominates with a leading education and pharmaceutical network.
These areas do hold challenges however. Decades of high costs have been faced by both corporations and the area’s residents that work at them in order to be in the heart of a city, an industry or community.
But a new uprising of diversification and exploration is hitting the country and these favored locations hard. It’s in the headlines, it’s reflected in the economy and on the shuffling populations moving across state lines. The fact is, businesses are looking more to the future and to the bottom line to see where investments can be low and returns high – as they face more challenges than ever before to remain competitive. This alone has pushed many outside of the breeding grounds that once dominated the country and have moved them towards new prosperous locations.
Most notable since 2017 to present day has been the mix up of California residents and corporations who are exiting the golden state at unmatched rates in pursuit of more affordable and profitable options.
Positioned front and center along the path that continues to pull long-time players out of their home territory and into new grounds is Texas and all its affordable allure.
Just recently many of the worlds leading corporations have announced their expansion or relocation to the state’s hot metro areas that includes Austin, Dallas and Houston among others. The businesses making the move? Top names include Toyota, Apple, Oracle and many more.
Supporting these big business moves are not only the affordability the state offers but also the top notch workforce it provides. Following the fundamental switch companies are undergoing to be more competitive and ultimately head outside of state’s like California, is a growing base of skilled workforce ready for employment.
Drawing more new residents from out of state than any other location in the country, the numbers speak for themselves with over half a million people in the last 5 years making Texas their home. And why shouldn’t they, shares industry analysts and top property developers like CEO of Western Rim Properties, Marcus Hiles. “More than ever people are catching on to the growing opportunities in both professional and residential life that affordable states can offer. Pair that with the onboard of globally recognized names setting up roots in the area and we are seeing the Texas community flourish right before our eyes.”