The Sun Belt is becoming an increasingly popular destination for businesses looking to cut costs and increase their profits. From Arizona to Texas to North Carolina, companies across the United States are relocating to the south in search of a more business-friendly environment. This has led to a real estate boom in Texas, which is now the source of more corporate relocations than any other state. The move of Tokyo-based Advanex Inc.
from Cypress, California to the outskirts of Nashville is just one example of this trend. Billionaire investor Carl Icahn, CEO of Icahn Enterprises, also moved his office, half of his staff and himself from Manhattan to nearby Sunny Isles Beach. The relocation of Papa John's International, one of the largest pizza makers in the country, from Kentucky to Atlanta is another example. The influx of technology companies into Texas has also had a major impact on the state's domestic migration rate.
Tempe, which is part of the Phoenix metropolitan area, has attracted a diverse list of Bay Area companies such as Moov and Align Technology. Meanwhile, foreign companies such as Tel Aviv-based BackBox and Dublin-based software company Origin have opened their first U. S. offices in Texas. The quality of life and the number of college graduates moving to Texas are also attractive features for businesses looking to relocate.
This has been demonstrated by Heliox, a leader in charging systems for electric mobility based in the Netherlands, which decided to locate both its North American headquarters and its research and development training center in Atlanta. A recent survey revealed that 21 percent of companies considering relocating their businesses are more concerned about taxes than any other factor. This means that businesses who move to Texas or other Sun Belt states can expect to reduce their overall expenses significantly. Overall, it's clear that the Sun Belt is becoming an increasingly popular destination for businesses looking to cut costs and increase their profits. With its business-friendly environment and lower taxes, Texas is leading the way in corporate relocations.