New York Companies Setting Trend to Expand in U.S. Growth Markets
Recent trends point to companies in New York and around the country that are taking a strong look at communities that are, in spite of the nation's economic downturn and slow recovery, proving to be attractive for business expansion. Texas' reputation as one of the most business-friendly states in America is attracting increased economic activity from throughout the country, including companies based in New York City.
Among Texas cities, San Antonio is emerging as an ideal location for outside investment and new opportunity for several key reasons. Named by the Milken Institute as the top performing economy in America, San Antonio consistently leads the way in many economic indicators and fosters a welcoming environment for major companies, small businesses, entrepreneurs, and young professionals.
Leading the migration to Texas are companies like CitiBank and J.Crew that are drawn to San Antonio's growth opportunities – a low cost of living that is 50% lower than New York City, favorable corporate tax climate and skilled workforce.
As the seventh largest city in America, San Antonio is a land of opportunity, faring better than much of the country with continued job growth, low unemployment rates and the booming sectors of aerospace, information technology and security, financial services, and bioscience and healthcare. The city is also attracting young talent from across the country, and continually producing and retaining college graduates (over 140,000 current college students) to add to its skilled workforce.
Another element that has drawn companies to San Antonio is that the city is well positioned to handle transportation and logistics needs. San Antonio's unique position midway between the East and West coasts of the United States and its close proximity to Mexico, makes it a strategic location for transshipment, distribution, logistics and international trade processing activities. San Antonio is a vital center for NAFTA-related surface trade and logistics, with Interstate 35—the Pan American Highway—and Interstate 10 providing unparalleled distribution access for every direction in North America.
Among key physical resources in San Antonio are intermodal facilities at Port San Antonio, air cargo capabilities at San Antonio International Airport, and two major transcontinental railroads, Union Pacific and BNSF, together with their yards and intermodal assets.
San Antonio is also leading the way in information technology and security and is home to a number of leading tech companies. In this year alone, USAA was named the No. 1 company in America for the “100 Best Places to Work in IT”. CNN Money lauded SA-based Rackspace Hosting as one of the “Best Companies to Work for in 2012”. Rackspace also made the Business Insider “24 Best Tech Companies to Work For in 2012” list.
Despite the more ominous headlines in today's news, a different story is unfolding about the state of Texas, which has consistently received recognition in recent national studies like CNBC's “America's Top States for Business” and Forbes' “Most Entrepreneurial States in America”. Even the Wall Street Journal has credited low taxes and employer-friendly metro areas like San Antonio with helping make Texas the job creation capital of the nation.
San Antonio presents a favorable business environment that is causing New York-based companies to consider expanding in the Alamo City. The San Antonio Economic Development Foundation is assisting companies, interested in exploring the opportunities in San Antonio, by providing analysis to identify feasibility for such a consideration. As one of the state's most favorable and competitive business environments, San Antonio's leadership is committed to nurturing a climate of growth and opportunity.
The San Antonio Economic Development Foundation (SAEDF) is a private, non-profit organization responsible for attracting new business and industry to San Antonio. The organization has been responsible for the recruitment of more than 360 companies that collectively employ nearly 95,000 San Antonians. For more information, about the SAEDF please visit SanAntonioEDF.com.