Business Facilities - August 2008 - (Page 16)

By Donna Clapp With an economy growing three times faster than the national average, Texas may be the state for your next big move. U pon receiving the Business Facilities’ State of the Year Award in 2007, Texas Governor Rick Perry said, “Part of the overall success of the Texas economy is a result of corporate CEOs choosing to relocate and grow their businesses in our state because we have what they need to succeed: smart people, regulatory certainty, low taxes, and a quality of life unmatched by any other state.” Home to more Fortune 500 companies than any other state in the nation, Texas has created 1.2 million new jobs in the last five years. Astoundingly, more than half of all jobs created in the United States in 2007 were in Texas. “Just about any way you cut it, Texas is the best place in the country to do business. We have worked hard to create a climate where people can come and risk their capital and know a good return on investment can be expected,” Perry says. “We have reasonable regulations, AUGUST 2008 low taxes, a balanced tort system, and an educated workforce—all the ingredients for success.” One of the biggest complaints the governor heard from companies was high property taxes, so two years ago he cut school property taxes by one third. Now Texas has one of the lowest tax burdens in the nation—28% lower than the U.S. average. On the energy front, Texas is making investments in renewables— in fact, the Lone Star state leads the nation in wind energy production. The state also is investing in clean coal technologies. Texas has nuclear power plants—a significant expansion of an existing plant and entirely new plant—in the permitting process right now. “Knowledge and capital are rapidly being deployed to parts of the world where the right combination of talent, technology, business climate, infrastructure, and markets converge,” says Perry. “I believe Texas is that place, now more than ever.” As the seventh largest city in the United States, San Antonio offers a variety of reasons, such as a thriving economy, affordable utilities, and an excellent quality of life, for businesses to consider expanding or relocating. Forbes magazine recently ranked San Antonio the second most “recession proof ” U.S. city, citing its solid employment figures and growing industries. The local economy is a healthy mix of business services, biomedical technology and research, a diversified manufacturing sector, a growing IT industry, and a thriving military community. Businesses with corporate headquarters or major regional offices located in San Antonio include H-E-B Food Stores, USAA, Valero Energy, Wachovia, and Citibank. The city also is home to a thriving bioscience and healthcare community; with an annual economic impact of more than $15 billion and 113,000 employees, it is the city’s number one economic generator. A S P E C I A L A D V E RT I S I N G S E C T I O N O F B U S I N E S S FA C I L I T I E S SAN ANTONIO: RECESSION PROOF AND READY FOR BUSINESS 16

Table of Contents Feed for the Digital Edition of Business Facilities - August 2008

Business Facilities - August 2008 Contents First Word Snapshots Corporate Moves: Florida Economic Development 2.0 Everything's Big in Texas Aerospace Sites: Poised for Takeoff The Nebraska Advantage Metro Spotlight: Cullman, Alabama Special Focus: Louisiana Industry Focus: Financial Centers Advertiser Index Inside LiveXChange

Business Facilities - August 2008

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