7 MINUTE READ | March 21, 2018
Why We Love Texas
Texas State Map Symbol
In tandem with our year-long series committed to exploring global market trends and international economies, we’ve dedicated some time and energy to the region we are particularly fond of — Texas.
Planting our roots in the heart of Fort Worth, Texas seven years ago, PMG has partnered with some incredible Texas-based brands like The Container Store, HEB, and Central Market. And with more organizations transitioning their operations to join us here in Texas, the Texas economy is booming – and not just in oil and natural gas production, but across IT, retail, tech, pharmaceutical, and engineering to name a few.
Said best by Bryan Daniel, the Texas Executive Director for Economic Development, “There’s a certain natural affinity to Texas for business people because it’s viewed as pro-business, low-tax, low-government-interference place for business.”
“Our winning formula is simple — low taxes, reasonable regulations and investment in a quality workforce.”
– Texas Governor, Greg Abbott
Ranking first for having the Best Economic Climate in America by Forbes, Texas is, in short, an economic powerhouse. In fact, if Texas were a nation, it would be the 10th largest economy in the world ahead of countries like Mexico, Spain, Russia, and Australia. Plus as America’s #1 exporter, Texas exported a record-breaking $264 billion in goods in 2017; sustaining influential trading partnerships with Mexico, China, Canada, Brazil, and Korea.
Additionally, Texas’ central North American location facilitates easy domestic and international transportation, on account of its 313,220+ miles of public roads, 10,425+ miles of freight rail and the state’s two largest airports, Dallas-Fort Worth International (DFW) and George Bush Intercontinental in Houston (IAH) serving as high-capacity domestic and international hubs.
Beyond its global influence, Texas is home to 92 Fortune 500 companies, including titans like AT&T, American Airlines Group, Dell, Sysco, and Exxon Mobil, close to 2.4 million small businesses, and well over 1,500 foreign organizations setting up shop like Toyota, BAE Systems, Siemens, and Shell Oil.
And to serve those organizations, Texas’ workforce amounts to over 13 million skilled workers with 7.6 million+ of those Texans 25 years or older and holding at least a bachelor’s degree. When it comes to attracting talent, research has found that employers look to Texas first, then everyone else, due to Texas universities and research institutions being national and global leaders in R&D in many industries including electronics, aerospace, energy, medical and biotechnology. With the allure of cultural hubs like Austin and DFW attracting some of America’s best talent and because Texas graduates are staying in the area, organizations are following suit; moving significant portions of their operations into the Great State of Texas.
While Silicon Valley is still the heart of the tech industry, it’s no surprise that Texas has quickly become a leading US location for organizations’ second headquarters, remote offices or housing major data centers thanks to its skilled workforce, culture, predictable weather, and affordable real estate. And because the cost of doing business is 11.5% less than the national average, more organizations are spending their capital more efficiently; coming to Texas to seek asylum from hefty regulations and tax burdens.
Since Texas public universities are nationally ranked for academic R&D expenditures with over $2.1 billion expended, organizations also have the opportunity to give back to the community and fund community and technical college programs to build and invest in local talent and culture. For instance, the Skills Development Fund provides financing for customized job training programs for businesses who want to train new employees.
Seeing that Austin has a lower cost of living than its economic competitors like Silicon Valley and New York, corporate relocations also benefit the employees, as most tech workers break even or get ahead on actual take-home pay after moving to Texas.
An added benefit of a Texas base of operations for employees and organizations is better alignment with the UK market due to longer time zone overlaps than LA-based offices.
Alongside over 17,500 electronics-related and IT support organizations, household names like Apple, Microsoft, Amazon, Facebook, and Dell have established expansive data centers in Texas; later developing second headquarters and supporting offices in urban creative hubs like Austin, DFW, and Houston to take advantage of Texas’ skilled workforce and recent college graduates.
Coupled with bright career prospects and affordable land prices and housing, Texas currently has the highest rate of in-migration with an average of 350 to 375 people moving to Texas every day; adding to the nation’s second-largest civilian labor force. These new Texans join the ranks in one of the most ethnically and racially diverse states in the nation.
Statista. Resident population in Texas from 2000 to 2017.
“Looked at every major city both the business and the employee’s point of view in terms of quality of life. There is no better place than Texas.”
– Jim Lentz, CEO Toyota Motor North America
With creative spaces like the cultural districts of Fort Worth or Marfa outside of Austin paired with the choice of city or country-side living, the advantages to living in Texas are beneficial to people from all walks of life and career fields, but for the tech enthusiast or digital marketer, we’ve listed out some of our favorite parts of living in the great state of Texas.
From Texas-based PMGers,
“With over 90 state parks, 70 working ranches, 191,000 miles of rivers and 624 miles of coastline, if you like being outside, Texas has plenty of recreational opportunities to enjoy.”
“Countless live music venues and scenes in hubs like Austin, DFW, and Houston.”
“Great sports teams like the Texas Rangers and Dallas Stars.”
“[Fort Worth has] renowned museums, [a] safe and clean downtown, historic Stockyards, [a] fantastic mayor, great universities, friendly people, affordable houses, Clearfork, Magnolia, West 7th, Left Bank, Botanic Gardens, Japanese Gardens, Water Gardens, JoeT’s.”
“Big city [Fort Worth] with a small town feel.”
“The Cultural District, especially the Kimbell, the Van Cliburn competition, the Fort Worth Stock Show & Rodeo, the Fort Worth Water Gardens, the Trinity Trail that all work to give Fort Worth a completely distinctive feeling from anywhere else in Texas.”
For Austin specifically,
“The southern hospitality is really a thing. Strangers will offer help and are for the most part courteous. There isn’t a lot of pretentiousness that you get in other large cities – Austin may be growing, but we still keep it weird. And we LOVE our animals — almost every restaurant that has a patio is dog-friendly.”
“TACOS AND QUESO, but also very good foodie spots here as well. And the people like to support local, so you get a unique experience most places you go.”
“Austin is a city about balance. A great culture of getting outside, being active, trails, yoga, etc., but paired with some of the best food, queso, breakfast tacos, bbq, ramen, etc. Around. There’s southern charm, but liberal values — it’s hard not to find something to love here.”
“MUSIC [Home to SXSW and Austin City Limits]. Nuff said.”
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As it can be seen, we love Texas and are thankful for the opportunity to work and partner with so many brands who have established their roots here as well. With so much to experience and offices in Austin and Fort Worth, we hope to see you soon!
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