The business climate in Texas is increasingly attractive to companies, and many are making the move from California. The state offers a range of incentives to businesses, as well as a rich talent pool and a growing reputation for innovation. Big Tech companies such as Oracle, Tesla, and Apple have all recently made the move to Texas, sparking conversations that the state could become a business center to rival Silicon Valley. The tax climate in Texas is one of the main reasons businesses are relocating.
The state provides significant amounts of money to incentivize businesses, making it an attractive option for companies looking to save money. Additionally, the talent pool in Texas is another major draw. While there may be some skill gaps in talent levels, talent costs are lower than those in Silicon Valley. The influx of Big Tech has also made Texas an epicenter of innovation.
Oracle moved its headquarters to Austin late last year, and Tesla is building its new gigafactory there. Apple will also host its second largest campus in the capital of Texas. In many cases, those transplants are moving to Texas because their companies decided to move here first, and in some cases, those companies receive great incentives from local government in the Austin area.
