Texas is proving to be the best state for business amid the pandemic.
Companies relocating to Texas are on the up. Some analysts think they could skyrocket in 2021, as businesses re-open from the pandemic and look to expand. Nearly 200 companies have relocated their headquarters to Texas within the past decade. Financial strategist Bill Dendy spoke to KTRH about why Texas is so business friendly.
“We don’t have the income tax, which helps the employees and the corporations. We don’t have an extra .4 % employment tax. We don’t have challenges with labor unions like some of the cities on the east coast,” Dendy said.
Some of those that have moved to the Lone Star State: Charles Schwab, AT&T, McKesson, and PGA of America. Others, like Tesla, are expanding into Texas.
“Many states are having a shortfall in their budgets, and instead of cutting benefits or services, they’ve decided to raise taxes. People vote with their feet. They vote by moving their companies,” Dendy added.