Texas has always been a hotbed for businesses, with its pro-business policies and low taxes making it a favorable destination for companies. But in recent years, the state has seen an unprecedented influx of companies relocating, with 140 businesses moving to the Lone Star State since 2020.
According to reports, 40% of these companies are coming from California, with high taxes and a restrictive business environment pushing them towards Texas. The latest addition to this growing list is Fisher Investments, which recently relocated its headquarters from Washington state to Texas following a state supreme court ruling on taxes.
This move has been followed by several other high-profile relocations, including Landsea Home Corps, one of the largest homebuilders in the United States, and international artificial intelligence firm Inbenta Holdings Inc. Both companies have moved their corporate headquarters to Texas, citing better business and financial conditions.
Alexandra Suich Bass, senior correspondent for The Economist, has highlighted the significance of the ongoing economic boom in Texas, stating that it has real national significance as Texas is the engine for the economy and population growth.
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Governor Greg Abbott has also been vocal about the state's success, boasting about the record job growth in Texas and ensuring that the state remains the best place to work and run a business.
The influx of companies to Texas is not only driving economic growth but also creating job opportunities for Texans. With the ongoing economic boom, it is likely that more companies will follow in the footsteps of Fisher Investments, Landsea Home Corps, and Inbenta Holdings Inc., making Texas an even more attractive destination for businesses looking to grow and succeed.