With a comparatively relaxed regulatory policy, zero corporate or individual income tax, and booming growth in a number of important cities, Texas is a great place to work and operate a business. Having over $1.6 trillion state GDP, second only to California in the nation, Texas has proved a robust and solid economy.
From it’s modest beginnings as a farming and ranching state to its workers and businesses today, the attitude in Texas is openly friendly and “can do”.
Many Texas businesses, particularly those in the Dallas, Fort Worth, Houston, Austin, and San Antonio regions, have grown rapidly and so has the state’s GDP. In fact, the 2014 US BEA reported a 5.2 percent GDP growth. Some of the biggest challenges ahead for these Texas organizations and businesses include finding enough skilled labour to maintain the pace of growth and getting enough investment capital to expand.
On the flip side, the advantages outweigh the challenges. Low cost of living and low taxes are crucial advantages to conducting business in the Lone Star State!