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ECONOMY

More companies setting up shop in Texas

Nikkei published a prominent article on a number of U.S. and Japanese companies relocating their offices and factories from California to Texas, highlighting Toyota’s decision to set up its North American headquarters in a Dallas suburb. Toyota’s move created almost 6,000 jobs there. The daily said the Japanese auto giant found Texas to be an ideal location not just because of the incentives offered by the state but also because of its central location, affordable housing, and extensive highway network. The article explained that doing business in the Lone Star State is more lucrative than in California, where housing rents have skyrocketed and traffic is severe. As a number of American high-tech giants and emerging IT firms are now based in Austin, Dallas, and Houston, the daily projected that more Japanese enterprises will find Texas preferable to Silicon Valley and California, which it claimed is no longer a place where the middle class can achieve the “American Dream.”     

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