Page 68 - FDI Alliance International Magazine. Winter 2020 Digital Interactive Issue.

GOVERNOR WELCOME TO

GREG ABBOTT TEXAS

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

68. FDI ALLIANCE INTERNATIONAL