Unveiling Hidden Gems for Commercial Leasing in Texas
Specializes in providing actionable insights into the commercial real estate space for investors, brokers, lessors, and lessees. He covers quarterly market data reports, investment strategies, how-to guides, and top-down perspectives on market movements.
When it comes to setting up a new commercial business in Texas, many business owners and entrepreneurs find themselves drawn to the bright lights of the state's better-known, larger cities, like Houston and Dallas, or to Austin, a well-known tech destination.
However, there may be better opportunities for you elsewhere.
While Dallas is near DFW International Airport and Houston's Ship Channel is the nation's largest port, potential business residents in other cities have plenty of advantages, including affordably priced commercial spaces and sites.
Special incentives may also be available for new business owners in lesser-known Texas towns and cities.
Some recent success stories involve major West Coast companies expanding into the state. For example, mega-retailer Amazon has set up shop in no fewer than 23 Texas towns and cities, including towns with 15,000 or fewer residents.
While lower rent costs are a popular reason to explore each of the state's regions, close proximity to growing industries and highly skilled workforces are two other reasons to look beyond the major metro areas.
In addition, Texas has its own Economic Development Office that offers a variety of incentives to businesses planning a move to the Lone Star State. We'll take a closer look at these later.
Let's start with the city of San Antonio.
#1: San Antonio
Founded as a Spanish mission in 1718, San Antonio offers a rich cultural heritage and is home to the remains of the historic Alamo. It invests in its infrastructure while keeping city taxes at just 1%.
The city also attracts plenty of skilled, bilingual talent, drawn by its 30+ secondary education institutions. Businesses in healthcare, bioscience, aerospace, IT, and energy already call San Antonio home.
New businesses are more than encouraged to put down roots in San Antonio. The Bexar County Small Business & Entrepreneurship Department (SBED) invites newcomers to visit their office for free assistance with business plans, obtaining permits, and networking.
Wondering about the city's tax structure? You'll like this number: 0%. It's what you'll pay in county, estate, personal income, and corporate income tax.
There are plenty of additional incentives for new businesses, and you'll find more details on them on the city's Economic Development website.
Another potential business destination: the city of Denton.
#2: Denton
Recently recognized as a top city for business, positive reviews from over 150 Texas employers propelled this city's inclusion in Scout's Top Cities in Texas for Business.
Near Interstate 35E and US Route 380, just under 30 miles from DFW airport and 40 miles from downtown Dallas, Denton offers much more than its college town atmosphere suggests.
The city offers competitive business tax rates and incentives to attract and retain businesses. In addition, Denton has attracted a diverse, skilled workforce, with median rents at an affordable $1,200.
The city's Small Business Resources department offers personalized assistance and complimentary consulting services to anyone considering a move to Denton.
Your business will never be in the dark in Denton, thanks to its 100% renewable energy provided by Denton Municipal Electric. This earned it a 4.78 out of 5 score for Quality of Power Supply.
Want to go a bit further off the beaten path? Let's visit Decatur.
#3: Decatur
Although the city's population is under 10,000, Decatur offers plenty of reasons for business owners to make it home. One of Scout's Top Cities in Texas for Business, it won a four-star rating for Most Responsible Government.
Featuring a 400-acre industrial park and access to BNSF Railway, the largest freight railroad in the nation, you and your staff will enjoy the small-town lifestyle where nobody's a stranger for long.
Retail businesses got their start in Decatur over 150 years ago, as ranchers would detour from the Chisholm Trail to buy supplies before reaching their final destinations south of the town. Visitors also enjoy visiting the town's pink granite courthouse which is listed in the National Register of Historic Places.
Decatur's rural atmosphere can make you forget that DFW Airport is just 45 minutes away, with big cities like Fort Worth even closer.
Tired of the big city? It's time to check out Amarillo.
#4: Amarillo
Situated within the northern region nicknamed the Panhandle, Amarillo boasts some of the cleanest air in the country. If you're planning to open a business that supports farms and farmers, the city is adjacent to 14 million acres of farm and cropland.
However, this doesn't mean you'll be commuting to work on a tractor. Industries like aerospace, biosciences, and tech are also growing here, and several retail stores are expanding into Amarillo. If you'd like to join them, check out these retail spaces currently available for lease.
Amarillo's Economic Development staff can assist you with state-sponsored business incentives, including the Texas Enterprise Fund and Enterprise Zone Program.
In addition to a healthy atmosphere, you and your staff will be next door to Palo Duro Canyon State Park.
No matter where you decide to set up shop in Texas, the state is already home to several sources of incentives and assistance, including help with choosing the best location.
Getting Down to Business
The state's Business and Community Development offices are managed by the Governor. Click here to learn about Texas Incentive Programs for new businesses.
In addition to the best-known program, the Texas Enterprise Fund, you'll find links for 11 additional sources of grants, funds, and initiatives, including the Small Business Credit Initiative. (“Small Business” is defined as having fewer than 499 employees.)
An independent consultancy, the Texas Economic Development Connection, puts you in touch with small business advisors, supporting vendors, and economic development pros who will help you locate the ideal town or city for your business.
Ready to start shopping for commercial space for lease in Texas?
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