When we talk about the tech industry many people might have in mind the many companies installed in Silicon Valley in California. The reality is that while Silicon Valley is still one of the biggest players in the world when it comes to the tech industry, there has also been a growing tech scene down South in Texas. Not only is the Texan seen growing rapidly but it has slowly become one of the most dominating players in the industry at large. Let’s look at Texas and its tech industry and try to understand why it is dominating so much and what has caused its exponential growth over the past few years.
Texas-born companies
While many people might be attributing the rise in the importance of the tech sector in Texas to many companies moving there over the past decade the reality is that the tech industry has been part of the Texan economy for almost 3 decades at this point. It has especially been very important to the culture of Austin TX and its leadership in the trend of entrepreneurship. One of the most important tech businesses founded in Austin is of course the Dell company founded by Michael Dell in 1984. As if that wasn’t enough there is also the large presence of companies like IBM and Texas Instruments. Texas Instruments has been known to invest a lot in technologies not only for civilian use but also for military use as they are known for producing very well-liked calculators and missile guiding systems.
Job-seeking and work opportunities
It is no secret that in Texas currently there is a bit of a drought when it comes to work opportunities outside of big city centers. This is why many people are not only turning to big cities like Austin and Dallas to be able to find work but also retraining to be able to enter new markets. As you can imagine one such market is of course the tech industry which is constantly looking for new people to join it and help it grow. For many Texans, the only option when it comes to finding work is turning towards the tech industry which means that it is a great place for tech businesses who are looking to fill up on newly trained talent. Between this job opportunity crisis and the well-reputed text students coming out of the University of Texas, it’s no surprise that many tech businesses are looking to move offices to this state.
Tax Incentives
If you’ve been paying attention to the tech industry in the last few years you’ve heard that many people have started to move their companies to Texas. You might have heard that this web design company in Austin, TX or this massive podcast studio from California that moved to Texas, has been benefiting from great tax incentives provided by the state government. People mostly moved to Austin as it is a great population center but the reality is that Texas in general has been giving great benefits when it comes to tax incentives as well as tax breaks when it comes to dealing with the tech industry in particular. The idea here is for Texas to be able to attract big companies that offer great-paying jobs as well as invest in their communities. While many people criticized the lack of oversight when it comes to dealing with companies the reality is that they have been bringing a lot of business as well as a lot of money to many Texan cities that needed it.
As you can see all these many conditions are making it very popular for tech companies to move their offices or create new offices in Texas. This is why for example you can see that many video game companies have started to offer jobs in Texas because they know that there are not only great benefits to them but also a massive pool of employees that they can choose from. With the tax breaks on top, it is a great haven for the growing tech industry as well as the newly certified tech students coming out of the University of Texas. In the end, this deal benefits both detecting the street as well as many Texan communities that welcome them.
