...I wondered about that, though. Yes, housing is much more affordable, taxes are somewhat lower
1 and the roads are marginally less clogged in Texas than in California. Also, the Texas economy has undeniably been booming, creating 3 million new jobs since 2000, compared with 2.7 million in much more populous California.
But I remembered looking through what is now called the PwC/CB Insights MoneyTree Report a couple of years ago and being surprised at how little venture capital Texas attracts relative to Silicon Valley. When I looked at the MoneyTree report again and added up the numbers for the past five years, I was even more surprised to learn that the state hadn't even attracted as much VC funding as the District of Columbia and its environs: 2
The Biggest VC Magnets
Venture capital investment by region, 2013 through 2017
Source: PwC/CB Insights MoneyTree Report
Texas' share of U.S. VC investment used to be bigger. It averaged almost 6 percent from 1995 through 2012, compared with just 2.2 percent over the past year. Meanwhile, California has gained share since the 1990s and 2000s, and metro Boston (which accounts for the overwhelming majority of New England VC investment) and metro New York have gained share lately.
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