California Businesses Make the Move

California business are making the move to Austin, but why? Legislators from the Golden State want to know. They plan on visiting Austin April 14 and 15, along with the lieutenant gonernor, to meet with Texas Gov. Rick Perry as well as the CEOs of business that have already made the transition to the South. 

They want to get in their heads.

"We're not asking these businesses to come back," California Assemblyman Dan Logue said. "We want to know why they left and we want to know what we [California] are doing to the business community. What can we do to fix things here?"

For starters, the taxes. California has the fouth-highest business tax rates in the country, which could be the leading reason businesses are looking to relocate. A better quality of life is another reason why many transplants end up here, looking for less traffic and lower housing costs without losing the cultural diversity.

Businesses that aren't moving are investing. eBay, Inc. said they want to add 1,000 PayPal jobs in Austin instead of their headquarters, located in San Jose, CA.

So what does this mean for the Austin Real Estate market? 

More jobs = more people = more need for housing

With so many companies relocating, the Austin housing market can only get better. Those that have been on the fence about purchasing a home need to act now to avoid the higher prices on their way.