Major financial institutions are choosing Texas over other markets for its competitive tax climate and skilled workforce.
Texas continues to grow its financial and technology sectors thanks to new projects and expansions across the state. In fact, finance and insurance establishments in Texas increased by 7,394 companies from 2010 to 2019, indicating a positive trend in this sector. Companies like Charles Schwab, JP Morgan and Fidelity Investments continue to expand their operations across Texas, and innovative new startups are creating a burgeoning technology ecosystem that will foster future growth and development. The state’s low tax burden and comprehensive incentives continue to draw companies in the financial sector to locate or expand here, and in 2019, Texas was the No. 2 state for the total number of finance and insurance companies located here.
Technology is born here. Industries excel here. The land of opportunity and innovation is Texas, where the future of tech is big.
In 2019, Texas was the No. 1 state for total number of employment (548,516) for the finance and insurance industry. From 2010 to 2019, finance and insurance employment increased by 103,254 employees or approximately 23%.
From 2010 to 2019, finance and insurance establishments increased by 7,394 establishments or approximately 21%. In 2019, Texas was the No. 2 state for the total number of establishments (42,201) for the finance and insurance industry.
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