When most people think of technology in America, Silicon Valley eventually comes to mind. For 30 years, it’s pushed out everything from computers to tech startups and all the gadgets that come with them. However, Austin, TX may soon steal the throne away. If you’ve ever been to an Austin SEO trade show, you know that technology is alive and well in this city.
Fertile Ground in East Texas
There are many reasons technology in Austin is growing by leaps and bounds and attracting all the right kinds of attention. For one, Austin is a great city for just about any form of business. Despite its size and popularity, Austin is incredibly affordable and offers an almost unrivaled quality of life. So it’s not as though companies have a hard time attracting business.
Austin also has no shortage of people for tech companies to hire. The University of Texas at Austin is just one of a dozen colleges in and around the city and, like many of the others, it’s well known for producing tech savvy students.
Low Costs, High Incentives
Some studies have reported that as much as a third of companies that relocate to Texas move there from California. Many of them are tech companies from Silicon Valley that simply can’t justify the overhead that comes with such heavy taxes. Texas is well known for having appealing tax rates that have attracted companies like AT&T, Microsoft and Apple. In Texas, there are no personal or corporate income taxes.
But that’s not all, the State of Texas hands out roughly $19 billion a year to incentivize their companies toward success. This is often enough for many companies to leave their home and break ground in Austin. There is literally no other state in the union that hands out that much money to businesses.
The technology industry is populated by countless startups and the majority of them all have one thing in common: they need help getting started. Incubators like Capital Factory and the Austin Technology Incubator are just two examples of companies that have helped young startups grow into veterans of their trade.
Most people don’t think of a city’s culture as being all that important to its business success, but it’s one of the main reasons Silicon Valley replaced Boston back in the 80s. Austin is now set to do the same. The city is known for its amazing attractions, superb food and generally friendly and casual demeanor.
As time goes on technology in Austin is only going to grow and develop further thanks to the characteristics listed above.