The Woodlands, Texas Offers Companies a Path for Relocation and Success
Every year, companies relocate their offices and headquarters in search of a more robust and economically sound community in which their businesses can flourish.
The reasons for relocation can include:
- Lower cost of doing business
- Workspace and facilities upgrade
- Strong workforce opportunities
- Quality of life
Many businesses choose to relocate to The Woodlands, Texas, for these reasons, and more. The Woodlands award-winning master planned community is uniquely positioned in the market to provide companies with an ideal location in which to thrive—allowing them to enhance their bottom line, and attract and retain today’s top talent with a high-quality lifestyle for employees and their families.
According to CEOs who were surveyed by Chief Executive magazine for the Best and Worst States for doing business in 2019, Texas remains at the top of the “best” list.
Texas Gov. Gregg Abbott tells Chief Executive, “In football or economic development, the one thing that kind of record requires is relentless persistence – the pursuit of what needs to be done to succeed.”
The Woodlands, one of Texas’ most desirable communities and office markets, consistently answers the call of companies seeking a business-friendly environment. This 28,000-acre, award-winning master planned community, continues to faithfully support emerging companies as they innovate, grow and expand. It is home to over 118,000 residents, seven Fortune 500 companies with a major presence, and approximately 2,200 businesses that employ more than 68,000 people.
“The Woodlands has always envisioned having 1.5 jobs per household in our community, and we have exceeded that goal,” shared Jim Carman, president of the Houston region for The Howard Hughes Corporation. “Residents enjoy the short commute or even walking to work, having business meetings and presentations in the day, and being able to be home in time for their children’s extracurricular activities.”
The Woodlands offers a comprehensive availability of office types (including Class AAA office buildings), floor plans, and build-to-suits to meet the needs of all companies. Businesses at The Woodlands enjoy a high-profile address, and a strongly educated workforce—with 62.4% having a bachelor’s degree or higher.
Businesses want to catch a break. Some of the ways that The Woodlands and Texas provide business incentives are through:
- Tax abatements
- Texas Enterprise Zone
- Texas Enterprise Fund
- Freeport tax exemption
- Tuition waivers
Low tax rates
Another item that companies consider when relocating their business is the tax advantage in their market. Texas has one of the lowest tax rates in the country including:
- No personal state income tax
- Sales tax exemption for manufacturing machinery and equipment, and research and development-related materials, software and equipment
- Franchise tax exemption for manufacturers, sellers or installers of solar energy devices
- Property tax abatements, permitting fee waivers, local cash grants and local funding for qualifying businesses
- A franchise tax rate starting at .375% on wholesalers and retail businesses
World-Class Medical presence
The Woodlands offers a world-class medical hub, featuring five of the top medical providers both in Houston and globally. All hospitals are located within a five-mile radius of the commercial town center. Hospitals include Memorial Hermann, Houston Methodist, CHI St. Luke’s Health, Texas Children’s Hospital and MD Anderson Cancer Center.
Healthcare is the second-largest industry represented in The Woodlands, with 24% of the total jobs filled by over 8,500 employees. Energy is the largest sector, representing 25% of the total jobs in The Woodlands, with over 9,000 employees.
Exceptional Quality of life
The Woodlands offers an exceptional quality of life with sought-after urban amenities set within a natural environment—something that is increasingly important and valued in today’s world.
Its 7,665 acres of open green space amount to an unprecedented 28% of the community, including 220 miles of connected hike and bike trails, 148 neighborhood parks and seven championship golf courses. The Woodlands offers what is seen as the ultimate office perk: a walkable urban town center integrated into a natural outdoor setting.