Texas means business. It’s not just something that’s said, it’s ingrained in the state’s culture and how it develops its workforce and companies. Beyond the headlines, newly released U.S Census data points to a continued trend in companies and people flocking to the Lone Star State.
The state’s business-friendly tax environment, strong job, and population growth, and infrastructure place Texas cities ahead when competing globally for investment. So much so the state has claimed the Governor’s Cup, a title awarded to the top state for economic development projects, 7 years in a row.
Companies large and small are coming to Texas, many from California. Location Solutions issued a recent study estimating that about 660 California companies moved 765 facilities out of state in the past two years with Texas gaining the largest share. In 2018, California lost 48,354 residents to Texas (U.S. Census).
San Antonio is consistently one of Texas’ fastest-growing cities. Based on net migration, the San Antonio region had the third-largest population growth in Texas from 2010 – 2018 adding 240,000 new residents or about 11% of the metro’s 2010 population. This amounts to approximately 100 residents added to San Antonio daily.
The State’s leadership and collaboration with Texas cities further grow the large-scale projects coming to Texas. The State of Texas’ deal-closing fund helped secure additional new investment in San Antonio, creating many new jobs for Texans. In 2019, three projects were provided support from the Texas Enterprise Fund (TEF).
Led by a culture that values business growth, Texas continues to attract people and companies seeking opportunity and economic mobility.