Texas is experiencing a major boom that began before the power grid was disrupted by February’s historic winter storm.
The Governor’s Office of Economic Development and Tourism said in September there had been a “tremendous increase” in the reach of companies since the pandemic, with 237 relocation or expansion projects currently underway.
Oracle moved its headquarters to Austin, Texas, late last year. Tesla is also building its new Gigafactory there, and Apple will house its second largest campus in the Texas capital. This influx of Big Tech talked about Texas possibly becoming a business hub that could compete with Silicon Valley.
CBRE and Charles Schwab have moved their headquarters from California to the Dallas area in recent months, and Hewlett Packard Enterprise is on its way to Houston. Texas also has wealthy individuals such as Joe Rogan, Elon Musk, Dropbox CEO Drew Houston, and co-founder of Palantir, Joe Lonsdale.
But it’s not just big businesses and rich people who are moving to Texas. In 2020, Texas added more residents than any other state. This comes as California’s population and job growth have dropped to a drop.
Watch the video above to hear from those who have moved to Texas and longtime Texans about the reasons behind the trend and what it could mean for the future of the state.