Texas is becoming a paradise for investors and international businesses looking to expand beyond their borders! Many of our international clients have asked Bemax Strategic Marketing for assistance during their establishment and expansion into the United States. Through various market analysis and research, we have classified Texas as a strategic location for business expansion in various industries, starting from manufacturing all the way to technological industries.
As a courtesy, we want to share a summarized infographic highlighting the market potential found in Texas.
Texas has become an Economic Powerhouse as the 10th largest economy worldwide with a GDP of $1.639 Trillion (2017). It’s ranked ahead of countries such as Australia, Russia, Mexico, Spain and many more successful economic references.
Texas has held the title as the largest exporter in the United States for 16 consecutive years, exporting around $264 billion in goods all around the world, such as Korea, Brazil, Mexico, Canada and China as their top trading partners. Furthermore, its transportation accessibility is highly reliable through air, road or water. There are over 383 airports, 16 seaports, 32 foreign trade zones, and over 313,000 miles of public lands (the largest compared to any other states).
Texas contains a population of over 13 million productive workers, representing the 2nd largest civilian workforce in America. Along productive workers, our top-notch schools - University of Texas at Austin, Southern Methodist University, Rice University, Texas A&M, University of Texas at Dallas, and many more - directly promote the quality of our labor force. Businesses located in Texas also benefit from the Skills Development Fund, which is a statewide job-training program that provides local, customized training opportunities for businesses and workers to boost their wages and skill levels.
Texas has a competitive tax climate, including no corporate or personal tax income, making living in Texas and opening businesses much cost efficient than any other state in the nation. Also, depending on the industry of the business, there are many tax exemptions for sales and franchises.
Among the reasons above, there are many more specific benefits that can make Texas the perfect location to expand or start your business.
If you would like a more in-depth market analysis and research on your business’ industry and would like consultancy in expanding an international or national business, please contact Bemax Strategic Marketing at firstname.lastname@example.org and we can help you grow!