Don’t think you are alone in thinking about corporate relocations. People have witnessed some significant changes in the corporate environment in the last few years. It’s been about workplace flexibility, remote working, business expansions, and location changes propelling business growth. For many companies, Texas has been a preferred state for corporate relocations. Take for instance, in 2021, Elon Musk’s Tesla officially moved headquarters to Austin. (Feuer 2021)
Texas is a preferred corporate relocation state in America.
Source: Texas Economic Development & Tourism, Office of the Governor
Houston, Austin, San Antonio, and Dallas are amongst the best cities to live a quality life in a pro-business working environment. The influx of corporate newcomers and tech talent in Houston is so high that last year, it ranked number one on the Penske’s (moving company) list of Top 10 Moving Destinations. (Mistretta 2022)
Houston #1 Moving Destination
Houston has one of the world’s youngest, fastest-growing, and most diverse populations. It’s not difficult to see why Houston is a hotbed of opportunities, especially for corporations. It has a favorable business location, tax incentives, pocket-friendly rentals, a multi-cultured talent pool, large commercial real-estate inventory, and plenty of other exciting incentives to entice professionals to relocate to Houston.
For a company, it’s not a simple ‘pick up your bags’ and come to a new city temporary arrangement. The reasons behind the move are many and farsighted. Aside from the tax incentives, companies want to cut back on expensive commercial lease space and move away from unfavorable state and local government regulations.
Let’s take a closer look at some of the compelling reasons and growing popularity of Houston for corporate relocations.
Reasons That Make Houston Lucrative for Business Growth
Ideal Center for Company Headquarters
Houston caters to key global industries – manufacturing, energy, life science, logistics, and aerospace. It’s a hub for over 20 Fortune 500 Company Headquarters and one of the most prominent U.S. headquarters locations for companies worldwide. The city’s geographic location makes it feasible for companies to transfer both people and goods around the globe.
Connectivity to Ports
With one of the largest ports and two international airports, Houston connects companies and its people worldwide. We see promising growth for corporates in the future with the Houston Ship Channel expansion plan, which is expected to be completed by 2024-25. The project includes widening the channel from 530 feet to 700 feet, creating a more extensive, safer port while increasing port job opportunities number of goods exported. (PortHouston 2022)
Business-Friendly Tax Structure
Houston’s cost-effective tax structure makes it a preferred location for any company looking to establish a presence or expand its current business footprint. Additionally, the personal tax burden in the region consistently ranks among the lowest in the nation, making it a lucrative place for people of all backgrounds to live and work with elevated lifestyles.
Many local and state incentives are available to qualifying companies in the Houston area to support new, expanding, and relocating companies.
Commercial Real Estate Inventory
A recent report from StorageCafe positioned Metro Houston as the number two city in the U.S. for its real estate activities across commercial and residential sectors over the last decade. Despite the turbulent last few years, Houston has built 44 million SF. of office space, and new industrial construction has surpassed 153 million Sq. Feet. (Mistretta, 2022)
With the increase in working population and Port of Houston, expansion plans, shipping, and continuous trade, e-commerce, and consumer brands continue to grow within the Houston area. The growth is fueling the creation of more jobs and increased demand for modern and flexible office space, retail space, warehouses, and more.
Tenant Rep Can Assist in Hassle-Free Relocation
Houston, undoubtedly, has become a robust market for corporate relocations in recent years. But, for businesses looking to relocate, it may be challenging and, in some cases, can feel incredibly overwhelming. The uncertainty can daunt you and leave you confused about where to start.
We advise seeking professional help for any business relocation. A local commercial real estate company with an on-ground knowledge of the city and its related laws and amenities can help you find the best commercial property and assist you in shifting your business operations to Houston smoothly.
Oliver Commercial Real Estate Understand Your Business Needs
Our commercial spaces are in convenient and accessible areas of Houston, from the Houston Ship Channel to The Woodlands. Our team of locally qualified agents and property managers will do a needs analysis with you to deliver the best possible relocation solution.
Some of our services include:
- Tenant Representation – finding and closing the best commercial properties for the tenant
- Commercial/Industrial Space Brokerage – executive suites, office condos, mixed-used offices and warehouse spaces
- Property Management
- Construction services for renovation and build-outs
- HOA Representation for Condominium Owners
Feel free to contact Oliver CRE at (281) 558-1111 to schedule an appointment.
Works Cited
Feuer, Will. “Tesla Officially Moves Its Headquarters to Austin, Texas.” New York Post, New York Post, 2 Dec. 2021, nypost.com/2021/12/02/tesla-officially-moves-its-headquarters-to-texas/.
Mistretta, A.J. “Houston No. 1 Moving Destination Says Rental Co..” Houston.org , 5 May 2022, www.houston.org/news/houston-no-1-moving-destination-says-rental-co.
Mistretta, A.J. “Report: Houston 2nd Most Active Real Estate Market in the Nation over Last Decade .” Houston.org, 7 Mar. 2022, www.houston.org/news/report-houston-2nd-most-active-real-estate-market-nation-over-last-decade.
PortHouston, Staff. “Port Houston: Houston Ship Channel Expansion.” Expandthehoustonshipchannel.com, 2022, www.expandthehoustonshipchannel.com/project-overview/.
