DALLAS, April 18, 2018 – One of the country’s largest states, Texas has been making a big impression in the economic development of present day commercial opportunities seen across the globe. Taking its place at the top in year-over-year population, job expansion and overall commercial growth; the state has been attracting residents and businesses from across the country and world over the last decade.
Appealing to out-of-state and international transplants for its low cost of living, increasing job opportunities and overall quality of living; the business community is also fueling from similar benefits the southwestern state offers.
Beginning with the accommodating business climate, big name and newly established companies are brought to the area through the nationally low taxes and regulations it provides. Also adding to its appeal are the decreased barriers to entry Texas’ vast commercial landmass enables along with the talented population it retains. “With these key factors separating the state from others in the nation for its commercial value, businesses are looking to Texas to help position them ahead of competitors and for a future of success.” shares Marcus Hiles, a leading Texas entrepreneur and CEO of the Dallas-based property firm Western Rim Properties.
Leading source in the business community, Forbes recognizes the state among the top in the country in many of its national rankings including its 2017 Best States for Businesses list where it took the number 2 spot – a best for Texas in over 10 years. Looking into six categories that shape a state’s commercial landscape, Texas look the second position by ranking first in the economic climate category.
Zeroing in on the future forecast of the state’s ability to support commercial growth, Forbes highlights Texas for having an equally bright outlook and also notes the state’s startup activity as one of the best in the nation.
And the industries refueling growth and job expansion in the state span some of the leading markets in the world. According to Business in Texas the top industries include those operating in the tech, manufacturing and energy spaces.
“Many of these sectors hold historically high yielding profits for the state, but Texas is also aligning itself with some of the key markets of the future” adds Mr. Hiles, a well established contributor in the state’s entrepreneurial community. With leaders such as Google and Facebook maintaining large office bases in Texas, the state is growing its ability to supply the consumer need for new technology advances among software, hardware and internet services, just to name a few.
Also a top driver in expanding upon new commercial opportunities; the state is beginning to play a key role in renewable markets such as those in wind and solar power. “Despite being known for its role in the oil and gas industry, this reinstates the area’s ability to continuously adapt its commercial landscape and the businesses it attracts to stay ahead of economic trends and hold a leading position nationwide.” another important factor helping the state, shares Marcus.
With such an influx of new and relocated companies coming to the area, Texas businesses themselves are even driving industry growth. For industries such as data centers and hosting platforms that support an area’s commercial infrastructure, the increasing business population is creating more demand and a heightened need for additional service options and providers in these markets.
With these factors the state’s massive economic role will continue to bring businesses and commercial enterprises to the area for the unsurpassed opportunities it presents.
See more on the Texas business community and how it’s fueling a nationally leading economy at marcushiles.net.