Apple is latest to remake state’s economy, but some headwinds loom
By Harriet Torry of The WSJ. Excerpts:
"Texas notched another technology win this week when Apple said it is planning a new 250,000-square-foot factory in Houston to make servers for an artificial-intelligence system."
"Austin already has Apple’s second-largest concentration of employees outside the company’s Cupertino, Calif., headquarters. Samsung has a large and expanding semiconductor presence in the state. Earlier this year, Meta moved its trust and safety teams responsible for writing policy and reviewing content from California to Texas and other U.S. locations."
"Others have moved their headquarters there, including Realtor.com, Tesla and Hewlett Packard."
"In the decade running through early 2024, jobs in the Texas high-tech sector grew at an average annual rate of 4.7%, compared with overall job growth of 2.1%"
"Compared with California tech hot spots, “it’s gotten to the point where you can recruit, retain, and your cost is, I think we like to say, about 30% cheaper,” Fahey Franz said, because of lower costs for labor and regulations." (Logan Fahey Franz is Chief Executive of Graze Robotics)
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