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.
Read the full press release
The commercial industry throughout the state of Texas has seen growing interest from globally recognized organizations among the world’s leading markets. Tech and industrial sectors, hospitality, manufacturing and energy industries are among those growing their roots in the nation’s second largest state that offers some of the best in vast land mass, talented workforce, affordability and business friendly regulations.
A unique environment where a collective group of diverse companies, populations and communities can come together to create opportunities and success at scale, the state has positioned itself in a way that has attracted organizations such as AT&T, Dell and Southwest Airlines.
Fortune’s 64th annual report released late this May sees the state as owning the third largest sector nationwide for Fortune 500 Company headquarters. The businesses on this list are those leading the economy and operating at a rate that produces 2/3rds the United States GDP. With nearly $13 trillion in revenue combined, Fortune describes this elite group as the most important engine of both US and global economies.
Holding 48 of the 500 firms on Fortune’s list, it is no surprise the overall Texas economy has continued to grow steadily each year in part from these companies that are each pulling in a minimum of $5.4 billion in revenues.
“The benefits that have come to the Texas area through this level of mass business operations has also commercially impacted other areas. Small business and startup communities, business infrastructure industries such as data centers as well as the migration of out of state and international employees coming for job opportunities,” shares DFW-based entrepreneur Marcus Hiles, who has seen a growing demand in his rental properties from this commercial boom.
Read the full press release