Temple is a stable place for business no matter what industry. Here are the top reasons why companies, including 10 corporate headquarters, invested over $2 billion toward expansion in the city between 2009-2019.
- Strategic Infrastructure
Temple’s Central Texas location and infrastructure link it to 80% of Texas’ population, giving businesses easy access to nearby metros like Austin, Dallas and San Antonio via I-35, and Houston to the east. The location is central for companies like Lane Enterprises and Walmart, whose logistics require easily accessible highways. Additionally, $35 billion from President Biden’s recently-passed infrastructure bill will go to the state of Texas over the next five years for roads, bridges, broadband access and other projects.
Four rail systems, and five regional and international airports in the Central Texas region also provide efficient access to the rest of the country and world.
- Low Business Costs
One of the top questions for any executive when opening a new company location is cost. The answer in Temple is, “not as much as you’d think.”
Temple companies benefit from low costs on real estate, land and utilities, as well as a cost of living 20.1% below the national average. Texas has no personal, state or corporate income tax at the state level, and is known for having one of the best enterprise funds in the nation. Local incentives are also available, such as cash grants for infrastructure and workforce development, which have been granted to companies like Reynolds Consumer Products and Everest Rehabilitation Hospitals.
- Workforce of the Future
With a median age of 34.6 years old and approximately 110,000 millennials in the Temple Metro region, skilled talent is ready to get to work in Central Texas. From manufacturing to business support, to life sciences and healthcare, students from area colleges fill the workforce pipeline with cutting-edge knowledge.
- A City Committed to Redevelopment
It’s easy to see why companies want to invest in a city that’s so deeply involved in redevelopment and public improvement projects. In 2019, the City of Temple initiated a major redevelopment of the downtown Santa Fe Plaza. The project included a $9 million, 34,000-square-foot business center, $1.5 million investment into the market and trail, and more, bolstering business activity in the city.
- Quality of Life Improvements
In tandem with Temple’s business development efforts are strong community development initiatives. The city’s population grew 10.6% between 2015 and 2020 driving quality of life improvements in the downtown area and multiple new business openings.
- Available Sites and Shovel-Ready Space
In 2020, Temple City Council approved Temple EDC’s plan to purchase 147 acres of shovel-ready land inside of Temple’s Industrial Park. The area is pre-supplied with roads, water, sewer and railroad line access, making it ideal for logistics and manufacturing operations.
Whether a business needs Class A office space or an industrial facility, Temple offers sites that fit the unique needs of any company. For example, longtime Temple-based Fikes Wholesale Inc. completed a 19.5-acre headquarters at Temple’s Airport Park at Central Pointe in 2011.
- Veteran Community
Temple is less than 30 miles from Fort Hood, the largest active-duty post in the U.S., which sees 500-600 veterans out process from active-duty monthly. This made the city an ideal location for the Central Texas Veteran Health Care System’s main campus. Similarly, the Olin E. Teague VA Medical Hospital is part of the Temple Medical and Educational District (TMED).
Temple’s growing veteran community accounts for 10% of employees at companies like McLane, whose Warriors to Wheels program allows veterans to “earn while they learn.” Performance Food Group earned the Texas Workforce Commission’s Employer Award of Excellence for bridging the gap for veterans transitioning to the workplace.
From TMED to the Central Texas Business Resource Center, companies have the resources and inspiration to innovate across industries. Multiple research institutions extend throughout the city like the Temple College Biological Research Institute and Texas A&M AgriLife Research.
Temple is ready to help find solutions to fit the unique needs of any company. Search available sites using our comprehensive site selection tool and contact us to see get started with your business expansion.