It is no secret that Austin, TX is the hot place to be for anything music, technology, politics, or outdoors related. Texas as a whole has experienced great job and population growth over the past several years with no signs of slowing down.
Austin is the Capitol of this great state, and there are many factors which promote the continuing success of companies that choose to conduct business there. Here are Here are 6 reasons to relocate or expand your business to Austin, Texas:
Austin is centrally located in the heart of Texas along the Colorado River and on the edge of the beautiful Texas Hill Country. Austin is currently ranked 11th in largest city populations in the United States and is eyeing a spot in the top 10. Within a few hours’ drive or less, one can easily get to Houston, Dallas-Fort Worth, or San Antonio to also conduct business.
There are very few places in the country, let alone the world, that so many epicenters of commerce are this closely located and all governed by the same state and national entity. Due to this centralized location and close proximity to many other major cities, Austin is a great place to start a business if you have rapid growth plans. Many industries require state licensing and it is much easier to create branch offices within the same state as your principal office location.
Austin is home to the University of Texas, St. Edward’s University, and Austin Community College just to name a few institutions of higher learning. Texas State University is 30 miles from Austin in rapidly growing San Marcos, TX and Baylor University is just a stone’s throw away as well.
With this many highly credited universities and colleges fueling the local workforce, Austin is a great place to find quality and cost efficient talent. This has proven to be a major catalyst for the rapid growth of the tech industry here in Austin. The commitment by so many Fortune 500 companies and tech industry giants to expand and relocate their teams to Austin is more than enough proof in itself of the great talent to be had here.
Texas is well known for its conservative fiscal policies and having a streamlined government with low overhead expenses that thus result in low taxes. Texas is one of the few states to have no state individual income tax and it also has no corporate income tax. The taxes from the wealth of oil and gas produced in this state has helped allow for this as well.
When it comes to leasing office space in Austin, Texas, the rates have been on the rise due to the high demand. However, many still find it much more affordable than leasing office space in other major US cities, such as San Francisco or New York. The tax benefits are often much greater to do business in Austin rather than in those other cities as well.
Austin benefits from being in the southern portion of the United States. With average highs in the 60s during the winter and dry heat in the 90s in the summer, Austin’s welcoming climate is very easy to get accustomed to. The sun shines here almost every day but we still get enough rain to keep the rivers flowing and foliage green. With a handful of snow and ice days in the winter, one still gets the feeling of four full seasons but without the frigid temperatures.
5) International Presence
As Austin is now entering the “Big Leagues” of US cities it has become much better known around the globe. Austin is home to a handful of celebrities that provide great publicity but also offers many other business-related contributions that continue to grow its international presence.
Both the border with Mexico and many coastal port cities are within a few hours’ drive of Austin. This makes it very easy to conduct international business. Courtesy of British Airways, nonstop flights to London from Austin-Bergstrom International Airport are now possible as well.
Austin is host to many major events that also bring it into the limelight. Austin City Limits (ACL) is a well-known music festival that brings in artists and patrons from around the world. South by Southwest (SXSW) does the same but also includes films and acts as a major tech conference that engulfs the entire city. Last but not least, Austin’s newly constructed Circuit of the Americas houses Formula 1, MotoGP, the X Games, and many concerts. All of these contribute to Austin’s international fame.
6) Because Everyone Is Doing It!
This statement is made jokingly, however it is very true. With the population growing by 110+ people every day, why would you not want to do business here? One of the easiest and best customers to have is someone who is new to an area and needs a new everything. If you have a product or service to sell, this exponential population growth should be very appealing to you. There is a modern day gold rush taking place in Texas and Austin is at the heart of it.
Are you ready to move yet? For more great information like this and to stay up-to-date on the current Austin office space market trends, sign up for our Quarterly Newsletter and feel free to contact us directly.