Bookended by Austin’s emerging tech empire and San Antonio’s robust healthcare and bioscience industry, the Texas Innovation Corridor is showing unprecedented growth in population, business migration, start-ups, economic development, and job creation.
In this article we will discuss:
- What is the Texas Innovation Corridor?
- Why Central Texas?
- What Does This Growth Mean for Texas Residents?
- How Can We Help You?
What Is The Texas Innovation Corridor?
The Texas Innovation Corridor is the region of Texas that extends from Austin to San Antonio, and encompasses 13 Central Texas counties and five major universities running almost parallel to Interstate 35. Booming with population growth and a steady increase in economic development, many companies and individuals are flocking to the area to grow their business or find opportunities along the corridor.
Click here to see which companies have recently moved into the Texas Innovation Corridor.
Why Central Texas?
The million dollar question is why Central Texas? Among the top reasons are increased opportunities, low taxes and business costs, and a skilled workforce.
San Antonio and Austin have become widely known in the United States as technology hubs. Austin is nicknamed “Silicon Hills” because it has been projected to become the next Silicon Valley since the mid 1900s. This projection is now supported by the 6,500 high-tech companies, 85 incubators, and numerous accelerators and co-working spaces that call Austin home.
In addition to San Antonio and Austin, the fast-growing sub-regions along the corridor are Hays and Comal County, which have both made the top 10 list for fast-growing counties in the United States in recent years.
Amazon has invested many times in the Greater San Marcos Area, located in Hays County in between San Antonio and Austin. According to the Greater San Marcos Partnership, Amazon is the largest employer in the region with 5,000+ employees.
With growth comes the necessity for increased infrastructure and services, including housing, schools, healthcare facilities, dining, and retail. According to Community Impact Newspaper, from 2010-2020, Hays County grew 53% in the ten year span, and Comal County followed closely behind growing 49% in its population. As the communities along the Texas Innovation Corridor continue to skyrocket, there will be increased opportunities for all industries to capitalize on the growth.
Lower Taxes & Business Costs
The state of Texas has no personal, corporate, or state income tax. The Greater San Marcos Partnership states that “the State offers a variety of tax incentives and innovative solutions for businesses expanding or relocating in Texas. State and local incentive calculations in Texas are based on job creation, industry sector, expected capital investment and average wages.” These Tax incentives and built-in laws are an attractive option for companies looking to cut down costs.
Many companies choose to build outside the two large metros into the growing communities along IH 35. Amazon operates out of two locations in Hays County, including a newly built 855,000 square-foot fulfillment center in San Marcos and a leased 307,840 square-foot facility in Kyle, Texas. Operating in these areas allows the companies less expensive land and savings on regular business costs associated with operating in a large metropolitan city.
Companies and jobs go where a productive and talented workforce can be found. Many major universities line the Texas Innovation Corridor from San Antonio to Austin, including: The University of Texas San Antonio, University of Texas Health Science Center, Texas State University San Marcos, University of Texas Austin, and Texas State University Round Rock.
This educational hub provides thousands of jobs for citizens, and gives local companies a pool of 1.3 million people within a 45-mile radius to fill positions across growing industries throughout the region.
What Does This Growth Mean for Texas Residents?
A growing population means more tax payers and a pressurized infrastructure. This growth will need to be matched in many industries, including healthcare, transportation, real estate, education, and utilities. Many projects that are underway, and will continue, are large-scale roadway expansions, growing school systems, new company headquarters, and expanding water and power infrastructures.
In order to foster sustainable growth, it is important that our communities continue to support these schools, municipalities, and healthcare entities that provide vital resources and services to the community. Cleary Zimmermann has offices in San Antonio and Austin, and we’ve made an effort to join as members of the Greater San Marcos Partnership, an organization that devises plans to build upon the region’s prosperity and quality of life.
Here are a few projects that our team has been involved with in the past 5 years that has helped our community accommodate to the rapid growth:
- 2017 City of San Antonio City Hall Renovations
- Comal ISD Pieper High School
- University of Texas at San Antonio Classroom Upgrades
- Texas State University MEP On-Call Contract
- New Braunfels Emergency Room
How Can Cleary Zimmermann Engineers Help You?
Building in a rapidly growing area can be challenging. It’s paramount that entities in the Texas Innovation Corridor are building for current and future growth, with sustainable design. Cleary Zimmermann Engineers is a local, high-touch, creative engineering partner for clients across municipal, healthcare, federal, higher education, K-12, commercial, and industrial sectors. We pride ourselves on our local connections through our offices in San Antonio, Austin, Houston, and Bryan/College Station.
Our experts are skilled in several building systems solutions, including:
By Samantha Bower, Marketing Specialist