4 States to Consider if Thinking of Relocating Your Business

Thinking About Relocating Your Business? 4 States to Consider

Many businesses are looking to relocate to another city or state. In California, numerous companies have left the state due to high living costs, high taxes, extensive regulation and higher operational costs. While these factors have been a bit of a setback for many businesses, they have been able to find better places to operate. Many locales have proven to be among the most business-friendly areas in the nation. Businesses that are relocating from California will benefit by transferring to places such as Colorado, Washington DC, Utah, and Texas. All of these places offer plenty of incentives to businesses.

Colorado

The first place that is among the best to relocate to is Colorado. The state has a low cost of living as well as plenty of educated workers. The taxes in Colorado are quite moderate as well, so businesses won’t be as strained financially as they were in California. Concerning drawbacks, Colorado has a higher tax rate than the other states that are among the most business-friendly.

Washington DC

Another good place to start a business is in Washington D.C. In the nation’s capital, businesses will be able to take advantage of highly skilled workers in a variety of lucrative fields. The regulations are also quite minimal so companies will have fewer restrictions on how they operate. However, Washington D.C. has a high tax rate which can make it difficult for some businesses to prosper.

Utah

When looking to relocate a business from California, Utah is another one of the best options around. In Utah, the taxes are low, the regulations are reasonable, and there are many highly educated professionals in the area. The main drawback of the state is that in Utah employers usually have to have workers comp insurance which can be a bit costly for some businesses.

Texas

The state of Texas is arguably the best place to relocate a business. There are many professionals who are well educated and who specialize in a number of technical fields. As well as offering skilled workers, Texas provides a low cost of living, good salaries, and no state income tax. However, the office rents have increased in recent years which can contribute to higher overhead for businesses.

Conclusion

Any business that is looking to relocate and find a better place to conduct operations will want to consider these four locations. Each of these locations provides businesses with some incentives to not only operate but also thrive and avoid trouble, like low morale for example. With benefits such as low taxes, an abundance of skilled workers and minimal regulations, these locations are ideal for any business that is looking to relocate out of California or elsewhere.

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By Amy Reese|2018-10-16T18:16:26-04:00September 10th, 2018|Business Growth, Small Business|Comments Off

About the Author: Amy Reese

Amy Reese is the Founder and Managing Partner of ARC Business Solutions, a consulting firm that helps small and mid-sized businesses gain access to Federal and Corporate contracting opportunities. After spending over 20 years as a Corporate Development Executive in which she collaborated with C-Suite and VP level leaders of Fortune 500 organizations and Government agencies, Amy now leverages her experience in relationship development, collaboration, negotiations and accountability strategies to benefit small and mid-sized businesses who are seeking opportunities to grow their bottom line. During her years in Corporate Development, Amy worked with clients to identify and implement customized solutions that supported her clients’ business needs by developing strategic plans. Amy’s unique accountability techniques have been instrumental in assessing client issues and gaps, allowing her to make recommendations of appropriate solutions. These special techniques have been instrumental in her success as demonstrated by the attainment of revenue growth for her clients in the millions.