Texas is facing a major boom that began long before the grid was decimated by the historic February winter storm.
The governor’s Bureau of Economic Development and Tourism said in September that there had been an “extraordinary increase” in pandemic-affected companies, with 237 relocation or expansion projects currently underway.
Oracle moved to Austin, Texas, late last year. Tesla is also building its new Gigafactory there, and Apple will host the second largest campus in the Texas capital. This flow of Big Tech has raised questions about whether Texas could become a business center that could rival Silicon Valley.
CBRE and Charles Schwab have moved their California headquarters to the Dallas area in recent months, and Hewlett Packard Enterprise is moving to Houston. Texas has also attracted wealthy individuals as well Joe Rogan, Elon Musk, Dropbox CEO Drew Houston, and Palantir co-founder Joe Lonsdale.
But it’s not just big business and the rich moving to Texas. In 2020, Texas added more residents than any other state. This is happening as California’s population and job growth slow to a release.
Watch the video above to learn from those who have been moving to Texas and Texans for a long time about the reasons behind the trend and what it might mean for the future of the state.