Texas is a major American influencer in virtually every imaginable commercial category. The state commands an unquestioned top-tier status in categories ranking from farming and natural resources to banking and space exploration.
Indeed, Texas is synonymous with business opportunity and growth, and for multiple reasons. The national financial media outlet Benzinga addresses that reality in a recent article, underscoring some of the key reasons for the Lone Star State’s economic power. The writers particularly stress Texas’ singular attractiveness for real investors and developers, spotlighting the following points.
Texas’ population growth fuels economic expansion
An empirically supported bottom-line point concerning this subheader is that sustained movement of talented individuals into the state has propelled economic growth to a degree virtually unparalleled elsewhere. Reportedly, Texas and California alone account for nearly 30% of the country’s gross domestic product.
Urban growth rate in Texas exceeds the national average
The steady influx of smart and creative entrepreneurs in cities across Texas brings in its wake new construction and investment.
Attractive business tax treatment spurs high-tech growth
Benzinga underscores this crucial point, noting that Texas is a magnet for new business growth owing to the state 0% corporate income tax rate. That freed-up capital spurs research/development efforts across Texas. Benzinga gives a special shout out to Austin, noting that it is a key locale for entities “in the booming technology, media and telecom industries.”
And there is this, too: Texas is among “the three youngest states in the country,” which has obvious implications for real estate investment and development tied to growing families’ needs.
The realty picture for Texas going forward seems clear and buttressed by myriad vetted points. The state is a solid bet for entrepreneurs and established business commercial principals eyeing real estate-linked opportunities.