Tech startups have played a major role in why people are moving to Austin. Whenever people begin to think of an industry that involves technology of any kind, typically they start to think of a place like Silicon Valley in California. This is an area that has created a vast majority of the greatest technological marvels of our time; however, the city of Austin is quickly booming into second place!
It’s no secret that living pretty much anywhere in the state of California can cost a great deal of money – in fact, it can cost up to 271% more just for all of your basic needs than that of the national average! This means that if you’re looking to launch a startup company, you can expect to pay costs that are much higher than usual. Thankfully, a city such as Austin will bring prices back to approximately 7% of the majority of the entire United States.
Here are five great reasons why many tech startups are now moving to Austin instead of focusing on Silicon Valley.
1. Not Having to Worry About State Taxes. Major organizations such as Apple are now establishing operations in Austin because of the fact that there is a lack of state taxes throughout the whole of Texas. Factors such as this are seen as a huge advantage to those who already have an established business, as well as those who are looking to start a new business.
2. A Strong Amount of Local Support Austin’s Chamber of Commerce is a group that has always been committed to assisting many different tech startups with not only building their businesses, but also helping them to thrive as much as possible. This is something that can be done through all kinds of events throughout the city, such as bi-monthly mixers with investors.
3. Plentiful Local Talent Being able to hire from within a local pool of extremely talented individuals is a much more cost-effective option than trying to search for qualified applicants outside of the immediate area. This is especially the case if you are someone who needs to factor in the cost of being able to help someone relocate to Austin from another area. Thanks to schools such as the University of Texas, you will be able to find many people who have strong interests in technology.
4. Affordable Housing Costs. Living in Texas is considered to be much more affordable than living in virtually any other area of the United States. Specifically, it’s extremely easy to find an apartment in Austin than it would be to find one in the Silicon Valley area.
5. Growing Number of Startup Companies The continuously growing list of startup companies in Austin is something that makes it easier for you to launch a brand new product or service that you may have developed.
