Texas has emerged as one of the top states for business and professional migration, particularly during the pandemic.
But why is this occurring, and why now? Simply put, Texas has seemingly found the perfect algorithm that makes a successful company: attracting top talent, technology startups, and venture capital firms.
Bringing in top talent is at the core of a healthy ecosystem and economy, and Texas has excelled in this arena.
Cities like Austin have brought in an influx of new workers over the past few years, with companies like Meta, Google, Tesla, and others migrating to the state thanks to its lower cost of living and tax incentives.
Texas has also seen continued investment into STEM jobs, which has helped attract new workers to the area and contributed to the flood of new professionals moving to the state.
Along with the increase in job availability, Texas has also become a haven for the venture capital community.
Silicon Valley no longer has the market cornered — Silicon Hills in the Austin area saw $6.9 billion in venture capital funding last year.
While the region still has ways to go compared to Silicon Valley’s $135.1 billion from last year, it is seeing continued momentum as other venture capital firms catch onto this trend.