The tech outflow from California, accelerated by the coronavirus pandemic, benefits the Texas-US-Mexico border as a technology hub is established there that leverages the bilingual and bicultural characteristics of the region. Bringing.
Well-known tech companies such as Oracle and Hewlett Packard Enterprise, billionaires such as Tesla CEO Elon Musk, and employees and executives in thousands of sectors have abandoned California in recent months and high state taxes. Announced that they were tired of what they were feeling. It is an environment where regulations are too strict.
Choice of their destination? Texas is a state that does not tax income and all Americans are required to pay federal income tax, but it is one of the countries with the lowest corporate tax rates and a very loose regulatory structure.
Since July last year, investment has begun to increase significantly. Omar Saused is a spokesman for The Bridge Accelerator, a startup facilitator promoted by Microsoft operating in border areas including El Paso, Texas and Ciudad Juárez. , Mexico-Tell EFE in an interview.
Relocations from California and landings in Texas tended to begin a few years ago, but the increase in telecommuting due to pandemics has undoubtedly pushed it further, and since then cities such as Austin and the El Paso / Ciudad Juárez metro area. Has grown rapidly.
This is a zone with a bilingual, bicultural and vinyl workforce that can take advantage of both, and despite the existence of border policies, El Paso / Ciudad Juárez is a unique urban area within. Mr. Saused emphasized, saying. Which people and businesses are constantly coming and going.
Here, it is very common for Mexican businessmen to be in the United States and vice versa. This situation is a big attraction for tech companies.
This is the case for PPAP Manager, a company that provides cloud solutions to help manufacturers increase efficiency.
Being on the border helps us because the flow of business between the United States and Mexico is much easier. We cannot forget that Ciudad Juárez was a pioneer in the Mexican manufacturing industry, the company’s co-founder Renepons told EFE.
Manufacturing industries in the region, especially construction materials, plastics and electronic components, are creating an opportunity-filled ecosystem for emerging technology companies dedicated to servicing these industries.
In addition to less tax and regulatory pressure, border areas are competing with Silicon Valley in another area that is more important to employers than ever before. Living costs are much lower, so they can pay workers lower salaries than in California.
For example, according to Zillow’s real estate website, El Paso’s average home price is $ 155,000, while San Francisco’s $ 1.5 million and Palo Alto’s more than $ 3 million are in the heart of Silicon Valley and Hewlett-Packard was founded. ..
At Ciudad Juárez, on the other side of the border, prices are even more reasonable.
I was born in Chihuahua (Mexico). There are very talented and intelligent people here, but they have always worked in the service department. Ricardo Estrada, founder and CEO of PID Electronics, told EFE to develop technologies that help manufacturers digitize.
Over the last five years, I’ve seen how it’s changed. A young Mexican said businessmen were growing and added that he sees the El Paso / Ciudad Juárez region as one of North America’s major innovation hubs.
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