24th of July 2023
Q4 Corporate Accommodation Trends Report
Silicon Valley has been the epicentre of the tech industry for decades, however since November 2020 more tech industry leaders such as Oracle, Dell and Hewlett Packard Enterprise had announced their relocation to Texas. The Lone Star state has quickly gained ground as a tech hub.
The Dallas, Austin and Houston areas in particular are experiencing a massive boom with many large tech companies making the move from Silicon Valley to enjoy all that Texas has to offer. It’s clear that where businesses go, people follow, according to the 2021 Texas Relocation Report released by Texas Realtors, more than 500,000 people moved to Texas in 2019 — 537,000-582,000 new residents.
What’s so appealing about Texas that it’s attracting so many big companies
One of the most compelling factors in this rapid growth is the favourable tax conditions in the state. Business taxes are extremely low in Texas, and there is no personal income tax, this gives Texas two advantages over most states.
On top of the tax breaks gained when moving to Texas, many movers and shakers experience a better quality of life. Everything is bigger, the cost of living is relatively low with an array of properties no wonder most people are packing their belongings and heading to the state.
The rise in remote work changing the traditional workplace structure that companies have created over the years, means that more people are forced to work from home.
Best places to relocate to in Texas
To accommodate the new wave that’s paving the way for what can only be coined as the new Silicon Valley, we have expanded the number of properties across Austin, Dallas and Houston with an array of serviced apartments ready to accommodate Business travellers and relocating employees alike.
We’re ecstatic to have our footprint in this fast growing metropolitan city enjoying not only the booming innovative technology market but also superior housing and affordable living.
Factor in the pleasant climate, thriving economy, no state income tax superior housing and affordable living, you’ve got yourself a State that is becoming increasingly appealing to the worlds seasoned technology professionals.