Page 68 - FDI Alliance International Magazine Summer 2020 Digital Interactive Issue

GOVERNOR
GOVERNOR
GREG ABBOTT
BRIAN KEMP

STATE OF

TEXAS

Texas is known as the Lone Star State and it is to domestic and global markets. This state-of- exemption for manufacturers, sellers or installers
the second largest state within the United States. the-art transportation network uses air, land and of solar energy devices.
It shares borders with the states of Louisiana, sea. There are 382 airports throughout Texas.
Arkansas, Oklahoma and New Mexico. The Fort Worth’s Alliance Airport is one of highest Another advantage is the Texas Enterprise Fund
Governor of this state is Greg Abbott. Texans capacity industrial airports in the state. Boasting (TEF). This is a cash grant that is provided to
in general are very friendly people. Their state more miles of public roads and freight rail than projects that promise significant job creation
motto is “Friendship.” The culture here is very any other state. Using sea transport, there are as well as capital investment. There are a
diversified with a strong mexican influence or 16 seaports including 11 deep water ports. This few other programs managed by the Texas
Hispanic-American culture. is why Texas is built for global trade. Workforce Commission. These programs
include Texas Enterprise Zone Program, the
Austin is the capital, and it’s the second most There is no corporate or personal income tax at Skills Development and Self-Sufficiency fund
populous state capital in the US. The largest the state level. This provides a very competitive as well as other local incentives such as tax
city in Texas is Houston, with San Antonio being advantage. What this means for businesses, is abatements.
the second largest. Other metropolitan cities you don’t have to pay any tax on the money
include Dallas and Fort Worth. you make through your startup company. This Land in Texas typically cost about 40% less than
can benefit companies by looking for more the national average. This creates less costs to
Many Fortune 500 companies are making Texas competitive talent. build a business. There are also low costs for
their home. Such companies include AT&T, healthcare, utilities, food and rent. Electricity
Dell, American Airlines, Southwest Airlines, There is also a low business tax rate that can is typically cheaper because Texas has its own
Sysco, Waste Management, ExxonMobil, be lower depending on the type of business power grid.
Whole Foods and a host of other major brands. you own. In Texas, if the revenue of your startup
company does not exceed a specific threshold, A high quality of life for employees is another
There are several reasons why the Lone Star then you will be able to have zero business tax. important factor when determining a location
State is ideal for business. The state’s low taxes They have committed to maintaining its position for your business. The gulf coast has well over
and friendly regulatory structure has ranked as the best state for business and passed 3,000 miles of shoreline creating year-round
Texas as one of the best states for business. legislation providing over $4 billion in tax relief leisure activities. Austin has more live music
A skilled workforce, stable business climate for businesses. venues than anywhere else in the nation. Such
and excellent transportation infrastructure are an attractive climate can bring talent from
reasons why there is a rapid job growth. There There are several sales tax exemptions for cooler climates. With the lack of income tax as
are low unemployment rates as well. The manufacturing machinery and equipment well as a thriving economy, Texas continues to
central location of Texas provides timely access as well as software. There is a franchise tax be an attractive location for businesses.

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