Silicon Valley 2.0? Texas Welcomes Yet Another High-Tech Giant
You may have heard that a flood of California residents are moving into the Lone Star State. It's true and, according to a report from the Houston Chronicle, it all boils down to two words - it's cheaper. Whether it's the price of homes, taxes, or the general cost of living, Texas is just less expensive for essentially the same quality of life folks find on the west coast. The latest announcement from tech giant Meta makes it clear that the 3rd coast isn't just attractive for individuals.
More and More High-Tech Companies Are Moving to Texas
Following in the footsteps of Elon Musk's electric car maker Tesla, rocket company SpaceX, Apple, Samsung, and Oracle who have made the move to Texas in the past few years - another humongous high-tech company has announced that they will be trading in the sunny beaches (and high taxes) of California for some jangling spurs and Stetsons. Facebook's parent company Meta has announced that it will be expanding into the Lone Star State.
Meta's Presence Will Be Pretty Obvious in Downtown Austin, Texas
According to a report from the business gurus at Bloomberg, the largest social media company in the world will be setting up shop in Austin. More specifically, the company that runs Facebook and Instagram will be taking up residence in 589,000 square feet across 33 floors in the brand new "Sixth and Guadalupe" tower in the downtown area of Texas' capitol. The company has 2,000 employees waiting to fill those offices as soon as construction on the new tech hub is complete, with plans to hire 400 more.