Texas is experiencing a great boom that began long before its power grid was decimated by the historic February winter storm.
The Governor’s Office of Economic Development and Tourism said in September that there has been a “huge increase” in companies coming since the pandemic’s success, as there are 237 relocation or expansion projects underway. .
Oracle moved its headquarters to Austin, Texas, late last year. Tesla is also building its new Gigafactory there and Apple will host its second largest campus in the Texas capital. This influx of Big Tech has fueled talks about how Texas could become a mall 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 heading to Houston. Texas has also attracted rich people like Joe Rogan, Elon Musk, Dropbox CEO Drew Houston, and Palantir co-founder Joe Lonsdale.
But it’s not just big business and the rich who are moving to Texas. In 2020, Texas added more residents than any other state. This happens when California’s population and employment growth have slowed to a halt.
Watch the video above to hear those who moved to Texas and the usual jeans about the reasons for the trend and what it could mean for the future of the state.