After decades of high costs being faced by both corporations and area residents, locations such as California’s Silicon Valley and Bay Area are seeing interest from their populations looking to relocate to other states that offer higher benefits and overall affordability. This new uprising of diversification and exploration is hitting the country and historically favored locations hard. Particularly with residents that have lived and worked in the heart of a city, an industry or community in high cost areas, they are seeing opportunity elsewhere that is pull them across state lines. The underlying cause points mainly to economic climates fluctuating and the industries that fuel them becoming harder to compete in. With this uncertainty impacting the current situation of many corporate districts, businesses are looking more to the future and to the bottom line to see where investments can be low and returns high.
Knowing both companies and the employees that work at them face more challenges than ever to remain competitive, many are actively seeking new prosperous locations in places such as Texas. “A location that has received much recognition over recent years for its growing business environment and population increases, the lone star state offers some of the best in new-age opportunity seen throughout the nation.” shares Texas-based entrepreneur and leading property developer Marcus Hiles who has established a portfolio of successful ventures throughout the state over the last 30 years.
Most notable since 2017 to present day has been the mix up of California residents and corporations who are exiting the golden state at unmatched rates in pursuit of more affordable and profitable options. This has already caught on with some of today’s global corporations recently having announced their expansion or relocation to the state’s metro areas. These city locations that are providing new opportunities includes places like Austin, Dallas and Houston among others. With recognizable businesses like Toyota, Apple, Oracle and many more making the move, it is no surprise other corporations and workforce populations are following in their tracks.
Supporting these big business moves is not only the affordability the state offers but also the top notch workforce it provides. Following the fundamental switch companies are undergoing to be more competitive and ultimately head outside of state’s like California to be more profitable, is a growing base of skilled workforce ready for employment. Texas has one of the top growing residential networks so it is a key benefit for businesses looking to establish routes where long term employees reside.
Drawing in more new residents from out of state than any other location in the country, the numbers speak for themselves with over half a million people making Texas their home in just the last 5 years alone. Supporting these trends are the state’s key differentiators that industry analysts highlight around its mix of talent, business growth and affordability that create unique opportunities for a diverse group of commercial and residential interests. The area’s top property developers like CEO of Western Rim Properties, Marcus Hiles agree, “More than ever people are catching on to the growing opportunities in both professional and residential life that affordable states like Texas can offer. Pair that with the onboard of globally recognized names setting up operations in the area and we are seeing the Texas community flourish right before our eyes.”