Austin has great qualities that make it a very attractive city.
Foto:
Robert MacPherson / AFP / Getty Images
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Texas is no longer just an oil state, during the last year several companies and their directors have established their residence there.
“Silicon Valley won’t last forever, and Texas knows it,” according to an article by Stephen Mihm of Bloomberg where he describes the rise and fall of innovation centers over time.
Although California continues to dominate most of the research and development centers, Mihm warns that Texas is getting closer.
According to him report Texas has overtaken California in high-tech exports. In 2019, about 1,800 companies left California, and the majority went to Texas. That same year 42,500 people left California for moving to Texas too.
The high housing costs, high tax rates and strict regulations they have made it difficult to live, work and do business in California.
Now the southern state has the characteristics that made Silicon Valley surround itself with innovative companies. More and more technology companies and their CEOs are choosing to relocate their operations to Texas and other lower cost-of-living states with more favorable tax laws and fewer restrictions.
Austin, for example, has many qualities that make it a very attractive city. In addition to being a cultural center, “that’s where people want to be,” said Laura Huffman, president and CEO of the Austin Chamber, in an interview with CNN Business.
Drew Houston, CEO of Dropbox, bought a house in Austin, which will become his permanent residence. Douglas MerrittSplunk CEO, has also done the same and Tesla billionaire Elon Musk is building a large factory near Austin and announced in late 2020 that he had moved from California to Texas to be close to his company facilities .
The opinion article mentions that the Rice University of Houston is one of the access routes to this type of job and has served as a promoter of its development, narrates that Stanford has been for Silicon Valley throughout the years. years.
Related: Tesla Announces It Will Build Its Next Mega Factory Near Austin
In Texas, companies such as Texas Instruments, Dell and NASA and recently tech giants such as Oracle, HP, Tesla, and SpaceX have migrated to the lone star state bringing new jobs.
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