El Paso Benefits From Being in Texas
A new report from Wallethub.com has named Texas THE best state to start of business. Wallethub.com reviewed several factors from all 50 states like average annual rent for office space, labor costs, share of college-educated population and ratio of startups to the regular population. While Texas came up first in many of those categories, El Paso has shown much improvement.
Research shows that the percentage of El Pasoans with a Bachelor's degrees is up to 16.2%. Compared to 18.5 for the overall state of Texas. The average cost to rent office space in El Paso is much lower than the Texas average. You can rent office space in El Paso for about $14.25 per square foot compared to $17.66 for the state of Texas. The best news is El Paso is experiencing employment growth along with the other cities in Texas. One stat does stand out when comparing job growth around the state, unemployment. El Paso's unemployment rate is 4.0 compared to red hot Dallas at 2.7. Dallas' unemployment rate is even lower than the national average of 3.6%. The highest unemployment rate for any city in the US is Yuma, Arizona. Their unemployment rate is at 20.9%.