How Texas is luring big businesses and billionaires away from California


Texas is experiencing a serious growth that started method 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 because the pandemic hit, with 237 relocation or growth tasks at the moment within the works. 

Oracle moved its headquarters to Austin, Texas late final 12 months. Tesla is additionally 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 changing into a enterprise hub that would rival Silicon Valley.

CBRE and Charles Schwab relocated their headquarters from California to the Dallas space in latest 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 businesses and the rich who’re transferring 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 transferring to Texas and longtime Texans in regards to the causes behind the development and what it may imply for the state’s future.

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