San Antonio Emerging as a South Texas Business Mecca
It is no secret that Texas is open for business, but the Lone Star state’s best-kept secret is south of the state capitol in business-friendly, culturally rich San Antonio. Publications such as Forbes, Business Insider, Entrepreneur Magazine, have called the city “America’s next boom town” and lauded it as a mecca for young grads, entrepreneurs and companies of all sizes looking for an ideal business environment, enviable environment and high quality of life.
The seventh largest city in the nation, San Antonio is already home to numerous Fortune 500 companies: GM Financial, H.E.B., Frost Bank, The Hartford, Rackspace, Boeing, Lockheed Martin, Toyota, USAA, Wells Fargo, Caterpillar and Tyson are just a few of the major companies with headquarters or footprints in San Antonio. Over the past 20 years, it has proved to be one of the most resilient cities in the United States. Bolstered by the pillars of heath care, education and military spending, the city’s economy has remained robust, even during nationwide economic downturns. During the 2008-2009 Great Recession, for example, San Antonio lost only 0.6% of its jobs, while Texas overall lost 1.1 percent and the nation lost 5.1 percent.
What makes San Antonio more desirable than other Texas markets? The city has a large, highly educated, heavily bilingual workforce that grows daily, with new graduates and a high net immigration from other states. Recently, Pabst Brewing relocated from Los Angeles to San Antonio citing great talent available at a lower cost. With an 89.1 cost-of-living index and an average cost per square foot for Class A office space of $26.81—as well as more affordable housing and a comparatively low cost of living for employees—it is an attractive place to do business than other cities nationwide.
The Alamo City’s leadership is pro-business, investing in infrastructure and keeping property taxes low, while maintaining one of the most fiscally strong cities of its size in America. The city promotes growth and investment across a diverse range of employment sectors, including aerospace, renewable energy, information technology, manufacturing, bioscience, industrial, and media and entertainment. The financial, health care and technology sectors are seeing tremendous expansion, particularly in cybersecurity, in light of The University of Texas at San Antonio’s nationally ranked cybersecurity program. The San Antonio Economic Development Foundation (SAEDF) also works hard to attract new enterprises, actively helping businesses navigate state and local incentives, make positive connections and understand the local landscape.
San Antonio is the ideal destination for any business looking to move its corporate headquarters, open a new branch or put down roots in a locale that affords the maximum potential for collaboration, growth and profit. It is a thriving city with a rich heritage, reflected in an active and engaging cultural district; a small-town feel; excellent accessibility to major arteries; and a temperate climate — all nestled in the rolling landscape of the Texas Hill Country.
Worth & Associates is a commercial real estate development, investment and brokerage firm that operates exclusively in South Texas. Locally owned for 35 years, the company has a stable portfolio of 3 million square feet of office and flex office space throughout San Antonio and the I-35 corridor, all owned and managed internally. It concentrates on offering customer service with a focus on developing flexible, highly efficient buildings and space plans designed to meet tenants’ long-term business needs.
The company cultivates partnerships with its clients, rather than typical landlord-tenant relationships, said Clint Worth, president of development and brokerage for the company.
“If you are looking for Class A office, flex-office, move-in-ready or service center space in San Antonio, our paths will cross,” he said “Our tenants benefit from our relationships with local business leaders, SAEDF, the city and surrounding cities. Our long-term hold philosophy, local partnerships, and vertical integration streamline the process, and our tenant retention is high. We understand that flexibility goes well beyond lease terms, so when our clients’ needs change.”
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