December 29, 2023
Houston, the fourth most populous city in the United States, attracts people from around the world due to its unique combination of cultural attractions, excellent dining options, diverse communities, and affordable living costs. For business owners or those looking to relocate or expand their companies’ operations, Houston offers substantial business opportunities matched with a robust entrepreneurial spirit.
Texas leads the nation in hosting 53 of the Fortune 500 company headquarters. Houston holds the top spot in the Lone Star State, hosting 24 out of the Fortune 500 headquarters. As Houston continues to lure businesses, establishing itself as a preferred destination for companies looking to relocate, expand, or start afresh, let's explore why more companies are moving to Houston.
Taxation and Incentives - Low Taxes and Cost of Living
Texas stands out for its lack of individual income tax, business-friendly regulations, a skilled workforce, and recent infrastructure investments, making it increasingly attractive for businesses looking to move or grow. State and local incentives and a favorable tax structure make the region appealing to businesses of all sizes. Texas also boasts a low cost of living, reduced utilities, and transportation expenses. Furthermore, streamlined land acquisition and building permit processes and lower corporate rent costs add to the overall appeal for companies moving to Houston.
Industries - Employment Opportunities and Corporate Relocation
Houston boasts a robust business infrastructure, supporting diverse industries, including energy, life sciences, manufacturing, and aerospace. As the ninth-largest economy globally, Texas is primarily driven by the energy sector, but the influx of companies and high expansion rates contribute to the growth of sectors such as information technology. The construction industry and residential real estate are also experiencing significant demand. Transportation, leisure, and hospitality are also pivotal in Houston's economic growth. As Houston continues to attract various industries, job opportunities are steadily increasing, leading to a growing job market and improved employment prospects for individuals.
Houston boasts a robust business infrastructure, supporting diverse industries, including energy, life sciences, manufacturing, and aerospace.
Talent and Workforce - Growing, Skilled, and Diverse Population
The Houston metro area stands out as one of the most diverse regions in the United States. With a workforce exceeding 3 million, Houston offers a broad pool of talent across all skill levels, catering to various industries, including professional services, healthcare, advanced manufacturing, and aerospace. The region also attracts and retains young talent, ranking among the top 10 in the U.S. for attracting millennials and retaining college graduates.
Digital Technology and Innovation - Start-Up Environment
Renowned for its engineering excellence, Houston is the home of NASA's space program and the global energy industry headquarters. While technology talent is concentrated in major industries such as energy and healthcare, sub-sectors such as software development and database management are also rising. The area has seen significant expansion in tech expertise and is witnessing a surge in innovation hubs such as the Houston Innovation Corridor and Houston Net-Zero Accelerator, which focus primarily on cleantech and software start-ups.
Houston offers a broad pool of talent across all skill levels, catering to various industries, including professional services, healthcare, advanced manufacturing, and aerospace.
The Square's Role in Helping Businesses Relocate to Houston
If you're considering relocating your business to Texas, you're not alone, especially in light of the recent trend of tech companies moving to Houston. The rising demand for flexible offices aligns with this trend. For a prime location in Houston, consider The Square. Our premium office space in Texas Tower, located in downtown Houston's newest building, offers the flexibility and variety your team needs, with offerings ranging from coworking desks for individuals to enterprise suites for larger teams.
The Square is also situated at 717 Texas at the corner of Texas and Milam Streets, in the heart of Houston's vibrant north downtown, steps away from the historic Market Square Park. Our two locations sit at the crossroads of the Central Business District and the vibrant Food and Theater District in the heart of the city, providing you with the ideal blend of urban business and cultural experiences.
