When it comes to certain industries, we tend to focus on the coasts. The Bay Area and Seattle are known for tech. New York and Los Angeles are some of the most expensive places to live, making the real estate industry a great place to invest and make a real estate company. Boston is known for academics. However, so many industries are relocating to places in the South to lower their overhead and taxes. They are also increasing the number of opportunities they have. Below are five industries blossoming in the South that might surprise you.
Finance
You might think of cities in the South being the best place for finance, but the field of money management, business, and the economy is dynamic. It has changed a lot. There are more opportunities for finance in the South than there ever have been. The cities in the South are growing. For example, a Houston financial planner can help people create a great life in this dynamic Texas city. In Texas specifically, the cities are growing. Their economies are blossoming. Dallas may be the biggest financial capital of Texas, but even Houston and Austin are becoming centers of commerce. It’s also because cities around the South are finding themselves with new industries like tech.
Tech
No longer is Silicon Valley the only place where tech thrives. In fact, the rents and saturation of tech hubs like it are getting in the way of a lot of businesses’ ability to get the job done. Tech companies are relocating to places like Austin and Atlanta to lower their overheads and taxes while finding talented and skilled workers who can provide great work at a lower cost.
Technology businesses can operate anywhere. There’s no reason for these companies to be only on the coast. When it comes to tech businesses, new cities are becoming centers of industry. Of course, not everyone in these areas is excited about this. One reason is that these companies relocating or starting in these cities raise the rents, but that also leads to a more prosperous real estate industry.
Real Estate
The real estate industry is one of the most lucrative ways to make money in general, and the business of land and buildings is very dynamic. As cities in the South continue to grow, so does the industry of real estate. Whether you are a family trying to buy your first home or a developer who wants to flip houses, real estate is booming around the region. Whether it’s a big city or a place where you can buy a lot of land to develop, the South’s economy will continue to respond to the real estate industry and the blooming businesses that come with it.
Aerospace
You might not realize it, but the aerospace industry is one of the biggest businesses growing in the South. Boeing is very active in the South, in South Carolina and Alabama specifically. They have thousands of employees, changing the economy and culture of these places. Depending on who you talk to, the influx of aerospace employees could be a good thing or a bad thing, but overall, it is boosting the overall prosperity of these regions, who don’t have very large stakes in other industries.
Manufacturing
Manufacturing is one of the biggest industries in the world. In many ways, manufacturing has always been in the South, but more and more companies are relocating to places where the rent is cheaper, and the wages are lower. Taxes come into play too. Even the equipment can be more affordable. Whatever the company is manufacturing, they have a better chance of being successful when the overhead is low. Even businesses that are headquartered on the coast are moving manufacturing to the south.
These five industries represent much of the growing economies in the South. The days of coal mining are coming to an end. Farming has been taken over by large corporations. So, much of the South is wondering what to do next. Luckily, there are other options. Still, not only do the people need to accept these changes but the businesses need to be sensitive to the place, its history, and its culture. The world is globalizing and this is having an impact on the South.
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