Happy New Year 2025

Tag: businesses

  • NYSE coming to Texas coming as Lone Star State continues to attract businesses

    NYSE coming to Texas coming as Lone Star State continues to attract businesses

    Rep. Jodey Arrington, R-Texas, explains how a Republican leadership in government can unleash prosperity, how the federal budget can be cut, and discusses former President Trump’s tax proposals.

    Texas has in recent years become a significant home for companies looking to relocate, including the latest —  the New York Stock Exchange’s “fully electronic equities change” NYSE Texas in Dallas. 

    The NYSE revealed Wednesday that it plans to add operations in Dallas by reincorporating its NYSE Chicago as NYSE Texas in the Lone Star State, saying the “fully electronic equities exchange” will “provide public companies with a listing and trading venue centered within the vibrant economy of the southwestern U.S.” once it goes live in the future.

    NYSE Group President Lynn Martin said the exchange is “delighted to expand our presence in the Lone Star State,” touting Texas as the state “with the largest number of NYSE listings” and a “market leader in fostering a pro-business atmosphere.”

    Traders work on the floor of the New York Stock Exchange November 28, 2011. REUTERS/Brendan McDermid (UNITED STATES – Tags: BUSINESS) ( REUTERS/Brendan McDermid  / Reuters Photos)

    NEW YORK STOCK EXCHANGE PLANS EXCHANGE IN ‘PRO-BUSINESS’ TEXAS

    A report released last year by the Federal Reserve Bank for Dallas found a net of over 7,300 firms moved into Texas between 2010 and 2019, putting it among the top states for business relocations.

    The state has notched more firms moving into it than out of it since 2000, the report also said. 

    University of Texas at Dallas Accounting Assistant Professor Kirti Sinha told FOX Business said “several factors” have drawn companies to the Lone Star State. 

    “The first is, of course, the taxes. There is no personal income tax and corporate income taxes in Texas in general,” she said. “Then, second, I think our regulatory environment is, I would say, much more relaxed compared to some other states.”

    “We have lower disclosure or regulatory oversight compared to other states, and I think also the way, for example, the governor has been signalling ‘come here, make this your home, and I’m here for you,’ those kind of give signal to companies that whatever the situation in terms of regulations right now, it’s going to stay like this in the future,” Sinha added. “That kind of gives them confidence.”

    A Texas flag and American flag flown together on a building in Austin, Texas, March 11, 2023. (Photo by Smith Collection/Gado/Getty Images)

    A Texas flag and American flag flown together on a building in Austin, Texas, March 11, 2023. (Photo by Smith Collection/Gado/Getty Images) (Smith Collection/Gado/Getty Images / Getty Images)

    The space that Texas has for manufacturing facilities and warehouses and its wage rates have also appealed to businesses, according to Sinha.

    “Texas has been working for decades to establish itself as the best place in America to do business. With one of the fastest-growing populations in the country, the highest number of Tier 1 research universities of any state in the country, and a business and regulatory environment that make it easy for companies to succeed, Texas is unmatched as a place to do business,” Nate Sharp, the dean of the Mays Business School at Texas A&M, told FOX Business.

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    Among some of the big-name companies that moved their headquarters to Texas in recent years are Tesla, Fisher Investments and Hewlett Packard Enterprise. 

    Fisher Investments announced its move to the Lone Star State in 2023. The relocation was prompted by the Washington State Supreme Court upholding the state’s capital gains tax. 

    Hewlett Packard Enterprises in 2020 pointed to “opportunities for cost savings, and team members’ preferences about the future for work” for its own move to Texas. 

    In a more recent example, energy giant Chevron said in fall 2024 that it would be moving its headquarters to Texas from California. Andy Walz, Chevron’s president of America products, said California being a “tough place” to do business and “recruit people” played a part in its relocation decision, as well as the company looking to “drive better business outcomes.” 

    Sharp said the launch of NYSE Texas “will accelerate the growth of business” in the state and make it “even more attractive.”

    Skyline of downtown Dallas, TX on a partly cloudy day. (Photo by: HUM Images/Universal Images Group via Getty Images)

    Skyline of downtown Dallas, TX on a partly cloudy day. (Photo by: HUM Images/Universal Images Group via Getty Images) (HUM Images/Universal Images Group via Getty Images / Getty Images)

    Nasdaq, another major stock exchange, also has a presence in Texas, and the TXSE Group is working to set up the Texas Stock Exchange in the state as well, filing its Form 1 registration with the Securities and Exchange Commission late last month.

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    “The whole listing process has become very complicated over the years, and having a physical office helps them talk to these companies more directly and gives them direct access,” Sinha told FOX Business. 

    She also said exchanges being in Texas “gives signals to investors that they can trust the system here, and so I think it is a very self-fulfilling kind of cycle, like ‘oh so the companies were coming, the New York Stock Exchange came’ and then that will bring in more investors and more companies.”

  • Super Bowl LIX to highlight small businesses with help from Google’s AI

    Super Bowl LIX to highlight small businesses with help from Google’s AI

    Evercore ISI head of internet research Mark Mahaney joins ‘The Claman Countdown’ to discuss Google potentially putting some of their A.I. capabilities behind a paywall.

    The Super Bowl is one of the biggest stages for marketing. This year, Google is using it to turn the spotlight on small businesses throughout America that are benefitting from its artificial intelligence models. 

    As part of its “50 Stories, 50 States” campaign, Google will illustrate the impact of artifical intelligence on small businesses by featuring 50 customer stories from all 50 states. The ads will appear next to commercials from some of the biggest brands in the world that doled out millions for the coveted airtime. 

    Massachusetts’ Joe the Architect, Oregon’s Jacobsen’s Salt Co, New Jersey’s Nuts.com and Texas’ Bison Coolers will be among the businesses profiled, along with their use of Google Gemini. 

    It comes as AI is taking center stage across a wide range of industries and in aspects of everyday life. At the same time, it’s also fueling panic among politicians and investors, as China’s DeepSeek begins to catch up with U.S. tech companies.

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    “We wanted to show what’s possible with AI in Workspace today, and how real businesses are using it,” Harris Beber, head of Global Marketing for Workspace, said. “What better way to show the unexpected ways AI helps real businesses in America than to let them share their stories?”

    Gemini, Google’s generative AI chatbot formerly known as Bard, has a core functionality included with Workspace business and enterprise plans, allowing customers to access tools that can help them with everything from writing grant proposals to developing marketing copy to mocking up designs in Slides, Harris said. 

    Jeremy and Dennis Denson are the co-founders of Bison Coolers, a family-owned business that makes coolers in the United States. (Bison Coolers)

    Google said it specifically highlighted the impact of its technology on small businesses as they are a critical driver of the U.S. economy. The more than 34 million small businesses in the U.S. account for 43.5% of gross domestic product, according to the Small Business Administration (SBA). They also account for 99.9% of all businesses. 

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    “Small businesses are the lifeblood of our economy. We take a lot of pride in knowing that we’re helping create jobs here in the US,” Bison Coolers co-founder Jeremy Denson said. “We’ve been able to save and create jobs at both of our domestic plants, and it’s incredibly rewarding to know that we’re contributing to both our local communities as well as our economy.”

    Denson said that the company doesn’t have the resources its competitors do because it’s a small, family-owned business. His company provides heavy-duty coolers ideal for camping, hunting and marine use. It manufactures everything in the U.S. 

    The Caesars Superdome is being prepared for Super Bowl LIX at the Caesars Superdome on Jan. 16, 2025, in New Orleans, Louisiana.  (Chris Graythen/Getty Images / Getty Images)

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    Denson said his company relies on Workspace and Gemini to be more efficient in its daily operations as well as our marketing needs.

    “We use AI to help craft marketing emails, product descriptions, social media posts or any other opportunities that can help improve efficiency and quality,” he said.

    It has helped them maintain profitability despite higher manufacturing costs.

    “Being able to accomplish more with less allows us to focus more on strategy, product development and driving growth,” Denson said.

    Other businesses highlighted vary across a range of industries. Some of the other 50 businesses include the Custard Stand in Webster Springs, West Virginia; the American Cornhole League in Rock Hill, South Carolina; and Morgan Ranch in Omaha, Nebraska, which produces premium wagyu beef for global markets.