Austin Texas

  • Amazon is searching for a site for its second headquarters.
  • Austin, Texas has emerged as a strong candidate.
  • It offers a low cost of living, supportive business community, and an appealing culture.

Austin is the spot.

The quirky tech hub in the middle of Texas has emerged as a top pick for Amazon’s new headquarters, according to an analysis by Moody’s.

The analysts looked at a number of factors, including the business environment, real estate prices, tax rates, energy costs, quality of life, the workforce’s level of education, and the efficiency of the public transportation system. 

Factoring all that in, Austin — where several hundred Amazon employees already work — came out on top.

For its second home, Amazon has said that it is looking for a friendly business environment, a site with proximity to roads and transit, and space for up to eight million square feet of offices. It also requires the site to be near a population center of at least one million people and to be within 45 minutes of an international airport. Amazon has stated that state and local tax incentives will be a major factor in deciding which city gets HQ2. 

Amazon said that it received proposals from 238 cities and regions that are in competition for the company’s new HQ, which is expected to bring 50,000 jobs and $5 billion in investments to the winning region. Bids were due October 19.

Here are some of the reasons why Austin looks like the top choice.

SEE ALSO: These 10 cities have the best chance of getting Amazon’s $5 billion headquarters, according to the data

Texas is considered a business-friendly state, and officials have said it will offer incentives to Amazon. Austin itself has said that it may rely less on large incentives to lure corporations there in the future, but city officials have not said publicly whether Amazon will be the exception.

Source: The Austin American-Statesman

Austin has a much lower cost of living than other tech hubs like San Francisco and Seattle. According to Nerdwallet, the median rent for a two-bedroom apartment is $1,184 a month, compared to Seattle’s $2,069 and San Francisco’s $3,519.

Source: Nerdwallet

Austin is already a well-known tech hub. Previous incentive packages have brought giants like Samsung and Apple to the city through what has become known as the “tech pipeline.”

Source: SF Chronicle

See the rest of the story at Business Insider