How Texas attracts big businesses, billionaires from California


Texas is experiencing a serious growth that started approach earlier than its energy grid was decimated by February’s historic winter storm.

The Governor’s Economic Development and Tourism workplace mentioned in September there’s been a “tremendous increase” in companies reaching out for the reason that pandemic hit, with 237 relocation or enlargement initiatives at the moment within the works. 

Oracle moved its headquarters to Austin, Texas late final yr. Tesla can also be constructing its new Gigafactory there, and Apple will home its second-largest campus in Texas’ capital metropolis. This Big Tech inflow has raised chatter about Texas doubtlessly turning into a enterprise hub that might rival Silicon Valley.

CBRE and Charles Schwab relocated their headquarters from California to the Dallas space in current months, and Hewlett Packard Enterprise is headed to Houston. Texas has additionally attracted rich people like Joe Rogan, Elon Musk, Dropbox CEO Drew Houston and Palantir co-founder Joe Lonsdale.

But it isn’t simply big companies and the rich who’re shifting to Texas. In 2020, Texas added extra residents than any other state. This comes as California’s population and job progress have slowed to a trickle.

Watch the video above to listen to from these shifting to Texas and longtime Texans concerning the causes behind the development and what it may imply for the state’s future.

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