Texas is a state that has been attracting new residents from different demographics and parts of the world for the past decade. With the attractive properties of the state’s top metros appealing to a wide variety of populations, it is a region growing rapidly each year as today’s generations enter new milestones.
Between the newly growing homeowners and renters pool made up of the millennial generation entering adulthood, much of the focus on the Texasgrowth has been on this age bracket of 20-35. However, the interest of today’s second largest generation of baby boomers are also putting down roots in the state on a considerable scale.
According to a recent report by WalletHub on the Top Cities to Retire nationwide, there are more people moving to Texas than most other states when retiring. Included in the list’s top 100 cities were well known areas like San Antonio, Austin, El Paso, Dallas and Houston among other up and coming locations like Plano, Grand Prairie, Laredoand Amarillo.
This newly stimulated interest has been gaining steady popularity as the state continues to offer the best in affordable opportunities for both businesses and residents. Combined with the generational shift of millennials entering the workforce and housing market in parallel with older generations retiring and downsizing, much of the nation’s relocated populations are concentrating into Texas.
This shift has opened up new avenues for many industries as with the increase of residents and commercial operations has created a demand for more supply. One area that has adapted to this continuous growth cycle is the housing industry. With the inability to build single family housing fast enough to keep up with the pool of new residents; more scalable housing solutions are breaking ground.
The future business scene in Texas is looking brighter than ever as the state continues to hold its place as a national leader. Growth is spreading across areas such as North Texas, Houston and San Antonio with businesses quickly expanding their operations in the state that offers some of the best in business-friendly climates and overall growth potential. Tapping into the market recently are global leaders such as Toyota, Liberty Mutual and JP Morgan who have taken advantage of the state’s increasing network of commercial properties, workforce and business resources.
Named by CNBC for the fourth consecutive year as America’s Top State for Business, Texas scored above all 50 states on overall business competitiveness. With the business hub building on its role as a national leader for the past decade, this top rank title reflects the progress Texas has made in cementing its place in the global economy.
“This national recognition comes without surprise as the lone star state has remained in the spotlight with record breaking growth throughout 2017 and 2018,” shares successful Texas entrepreneur for over three decades, Marcus Hiles. Spikes in the state’s overall population has contributed to the expanding workforce that has aiding growth in 10 out of 11 industries in Texas. Read the full press release
The wish list and must-haves of renters and home buyers in today’s market has drastically changed in recent years. Most seen within the nation’s top surrounding metro areas, residents are putting importance on not only their indoor living area but also their outdoor accommodations.
Two example locations are suburb areas that border two of Texas’ top cities: Austin and Dallas. Recognized as being some of the best places to live in the state, the suburbs of Allen and Riverside, Texas have been recognized as offering some of the best in balanced living, helping the area’s residents sustain healthy, active lifestyles.
The three keys to a growing area – housing, job and population increases are on the rise in Dallas and its surrounding suburbs; continuing to make it one of the fastest growing cities in 2018.
Leading the nation in population increases, Texas topped the charts as the number one state experiencing growth year over year from 2016 to 2017 in study conducted by the U.S. Census Bureau. With Dallas as the number one location in the state, it’s no wonder this city is growing in popularity for 2018.
One of the country’s largest states, Texas has been making a big impression in the economic development of present day commercial opportunities seen across the globe. Taking its place at the top in year-over-year population, job expansion and overall commercial growth; the state has been attracting residents and businesses from across the country and world over the last decade.
Appealing to out-of-state and international transplants for its low cost of living, increasing job opportunities and overall quality of living; the business community is also fueling from similar benefits the southwestern state offers.
Beginning with the accommodating business climate, big name and newly established companies are brought to the area through the nationally low taxes and regulations it provides. Also adding to its appeal are the decreased barriers to entry Texas’ vast commercial landmass enables along with the talented population it retains. “With these key factors separating the state from others in the nation for its commercial value, businesses are looking to Texas to help position them ahead of competitors and for a future of success,” shares Marcus Hiles, a leading Texas entrepreneur and CEO of the Dallas-based property firm Western Rim Properties.
The commercial industry throughout the state of Texas has seen growing interest from globally recognized organizations among the world’s leading markets. Tech and industrial sectors, hospitality, manufacturing and energy industries are among those growing their roots in the nation’s second largest state that offers some of the best in vast land mass, talented workforce, affordability and business friendly regulations.
A unique environment where a collective group of diverse companies, populations and communities can come together to create opportunities and success at scale, the state has positioned itself in a way that has attracted organizations such as AT&T, Dell and Southwest Airlines.
Fortune’s 64th annual report released late this May sees the state as owning the third largest sector nationwide for Fortune 500 Company headquarters. The businesses on this list are those leading the economy and operating at a rate that produces 2/3rds the United States GDP. With nearly $13 trillion in revenue combined, Fortune describes this elite group as the most important engine of both US and global economies.
Holding 48 of the 500 firms on Fortune’s list, it is no surprise the overall Texas economy has continued to grow steadily each year in part from these companies that are each pulling in a minimum of $5.4 billion in revenues.
“The benefits that have come to the Texas area through this level of mass business operations has also commercially impacted other areas. Small business and startup communities, business infrastructure industries such as data centers as well as the migration of out of state and international employees coming for job opportunities,” shares DFW-based entrepreneur Marcus Hiles, who has seen a growing demand in his rental properties from this commercial boom.
Colonial towns such as Jamestown, Philadelphia and Charleston have been crafting the foundation of America since the 16th century. Marcus Hiles, CEO of Western Rim Property Services, comments that planned communities are not only valuable to occupants, but also important to the country’s real estate market. The Dallas real estate investor has been making remarkable properties for over thirty years and has observed directly the reforming impact they’ve had on Texas’ dwellers and economy.
Trends in architecture have moved to hot outdoor designs that claim to have low maintenance and high style. Marcus Hiles has witnessed the rise in demand for open-air spaces that are sustainable and decrease costs. Ecological, conservation-minded choices such as rainwater/graywater harvesting and permeable pavement are leading the way. Using a rooftop collection structure, rainwater harvesting sends moisture from the air for storage in a well to be treated and reused on-site; graywater takes previously used home wastewater and redirects it for rest rooms and non-drinking purposes, decreasing the need for fresh water and dropping the amount of purification. A different apparently novel idea for environmentally minded construction, permeable paving, actually goes back thousands of years to the time when people first made roads by putting stones in beds over the ground. The method allows the rain to pass through small openings between four layers of filtration (paving material, gravel, fabric, sand) before becoming absorbed by the earth below. Its benefits include lowering runoff and pollution, controlling the flow of storm water to gutters and drains, replenishing local groundwater supplies and providing a skid resistant surface for walkways, patios and driveways; their many attractive patterns often incorporate crushed stone, brick, and recycled concrete.
The housing sector is the foremost contributor in a person’s carbon footprint very often because of an unwarranted use in gas, electricity, water and waste disposal. Marcus Hiles, Chairman and CEO of Western Rim Property Services, revealed recently the many steps his firm takes to provide environmentally friendly and energy-efficient homes, and the techniques tenants can follow at home to further this. For a regular US citizen, heating and cooling adds up to almost 50% of carbon emissions. To lower these, each Western Rim property uses three basic methods: effective insulation, Energy Star rated systems, and programmable thermostats with contemporary options to set different temperatures for certain rooms. More weather stripping and the blocking of draughts will definitely offer a higher protection from the elements, and raise a home’s ability to maintain a steady climate. Using the thermostat to split rooms into warmer or cooler zones and avoiding usage when away will create higher savings.
Before visionary real estate developer Marcus Hiles’ made his entry in the Dallas real estate market, there was a definite gap in the market for luxury rentals at affordable prices. Almost three decades ago, Texas was witnessing a sudden surge in housing sales, leaving hopeful homebuyers with limited options to choose from- moreover, the existing available options were selling at over-inflated values. Hiles saw the disparity as an opportunity to answer a unseen demand, and the outcome was the founding of Western Rim Property Services in 1990. He began building homes that were needed to better the Dallas rental scenario, but his unique concept of offering luxury townhomes, homes and apartments to working class people in Texas transformed the landscape in Dallas for the better solely.