Tyler is ideal for businesses and start-ups due to low cost of living, tax abatement incentives, one of the lowest city property tax rates in Texas, NO individual state income tax, and a strong local banking ecosystem. Tyler is also home to a local angel network (TTAN) that invests in start-ups, an aggressive Economic Development Council, the Small Business Development Center, and Tyler Business Incubator.
TTAN - Tyler Texas Angel Network
TTAN is a group of accredited local investors that are looking for early stage companies with great products and bright futures; companies that need to expand to the next level and need investors to help grow your company to succeed. The group includes successful entrepreneurs and business professionals who love to invest in innovative products, as well as offer their considerable experience and expertise in growing companies.
Tyler Small Business Development Center & Business Incubator
The Tyler SBDC is a partnership program with the U.S. Small Business Administration (SBA), the State of Texas, and Tyler Junior College to provide small businesses with the practical assistance needed to survive, grow, and prosper.
The Tyler Area Business Incubator is creative consortium including Tyler Junior College, the City of Tyler and the Tyler Economic Development Council joined together to create a central 26,000 sq ft location where local start-up and fledging businesses can be nurtured and grow into successful entrepreneurs and provides new or expanding businesses a supportive environment:
- Low overhead in a professional environment with offices available at reduced rates for new businesses that have technologically innovative products or services
- Shared resources (including a 3D printer) with knowledgeable assistance and advice
- Immediate access to technical training at the Tyler Junior College's West Campus, where the incubator is located.
- Counseling regarding low-interest financing and government-guaranteed loan programs.
Economic Development Council
Tyler is, without a doubt, a great place to do business! The Tyler Economic Development Council (TEDC) is a non-profit organization that promotes the creation and retention of primary jobs for Tyler and the diversification of the economic base to expand employment opportunities in the region.
Business Friendly Tax Structure / Low cost of living
Tyler has one of the lowest city property tax rates in Texas, a municipal government with no tax-supported debt, an educated workforce, and supports business through aggressive tax abatement policies. The City's Tyler 1st Plan defines a city vision emphasising attracting technology, arts, and entertainment companies.
•220,000 MAS Population
•Regional hub for a market of 840,000 people
•$133K median home price
•Under 15 minute average commute time
•Under 5 minute average airport security line wait