For more than 20 years, Texas has been hailed as the best state in the U.S. for business according to Chief Executive. As the saying goes, ‘everything is bigger in Texas,’ and that includes the state’s economy. Comparatively, if the state were a country, its economy would be considered the 9th largest in the world.
Located in the heart of Central Texas, Temple has several advantages that make it an ideal environment for any business, but especially manufacturers, logistics and distribution firms, healthcare and bioscience companies and corporate headquarters. Read on to see what makes doing business in Temple a natural choice for growing companies.
1. Central location with strong infrastructure
Distributors love Texas because of its direct access to millions of consumers and thousands of businesses. Temple puts four rail systems and four regional and international airports within an hour’s drive. Connectivity to other Texas cities via I-35 brings more than 1.2 million people within a 60-mile drive, and the Lone Star State’s entire population of over 28 million people can be reached in under 2.5 hours.
H-E-B, a company that has been leveraging Temple’s central location and robust infrastructure for more than a decade, announced plans in 2022 to increase its presence in Temple with a 325,000 square-foot expansion to its existing facility. The project will accommodate a new automated frozen food distribution line and add more than 100 jobs to H-E-B’s workforce. The company expects the expansion to be complete by 2024.
2. Available space for any size operation
From megaprojects to Class A offices, Temple has the space to accommodate the needs of businesses of any size. More than 140 acres at Temple’s Industrial Park are readymade for industrial development, equipped with road, water, sewer and railroad line access. The city has another 1,450 acres of shovel-ready land available at competitive real estate costs.
Meta, the parent company of Facebook, announced it would invest $800 million into a 900,000 square foot data center on 393 acres in Temple. The facility, slated for completion by 2024, will allow Meta to benefit from Temple’s strong talent pipeline, infrastructure and supportive business climate.
3. Incentives for growing the local economy
Texas packs a lot of value into a low cost, from competitive real estate prices to local tax abatements. The state also has no corporate or personal income taxes, which raises a business’ ability to invest in other areas such as workforce development and facility improvements.
In Temple, tax exemptions from sales and use tax are available on the purchase or lease of certain equipment used for manufacturing or production. The state-funded Skills Development Fund allows businesses to partner with local public community or technical colleges to achieve customized training and upskilling.
4. Redevelopments to retain talent
Attracting and retaining talent is one of the most important things a company can do to achieve business success. Since the pandemic, much emphasis has been placed on increasing employee wellness with a healthy work-life balance. Naturally, doing business in a robust, engaging community can have a significant positive impact on employees’ quality of life.
Temple has $366 million in redevelopment plans underway, including a City Center project with street improvements, new landscaping and a downtown parking garage. The project has prompted the establishment of several new businesses and restaurants in downtown Temple. Additionally, the Outer Loop is a five-phase project that is improving access to I-35 and mobility within the city in preparation for the Temple’s expected growth.
5. A workforce worth writing home about
With a steady increase in population throughout recent years and an average age of 34.6 — talent in Temple is here to stay. Eight universities and colleges add expertise to industry and fill the workforce pipeline from manufacturing and business support to life sciences and healthcare.
Texas was the top state for workforce in 2021 according to CNBC and SmartAsset ranked Temple the No. 10 best U.S. city to work in tech in 2019.
6. A skilled and dependable veteran community
One of the largest U.S. military bases, Fort Hood, is only 30 miles from Temple. The post sees hundreds of service member separations annually, which presents companies with access to a robust pool of talent with a variety of clearance levels and skill sets.
Temple EDC is an advocate for veterans in the community, working to progress legislation that benefits transitioning soldiers with jobs and other resources at the federal and state levels.
7. Temple EDC is here for business growth
Whether a company is just starting to consider relocation to Temple or is already seeing success in Central Texas and looking to expand, the Temple EDC is connected to resources that help companies navigate the process.
As a one-stop-shop for all things business development — including cost and affordability analysis, workforce development and talent attraction, industry partnerships and resource acquisition — Temple EDC is committed to working with businesses to enhance the economic development landscape and quality of life in Temple.
Temple is an advantageous city for homegrown companies, small businesses and international corporations looking for connections to new markets and key talent. Learn more about doing business in Temple and get in touch with our team to see how your company can benefit by expanding or relocating to the city.