According to a recent report released by PricewaterhouseCoopers, Houston is the most affordable location for business.
The company weighed several factors when compiling its list, including finances, commerce and local culture. Houston has a strong blend of each of these factors, as properties and business travel expenses are both cheap, while purchasing power is high. Furthermore, the area's economy has been growing steadily recently.
"Roughly 31 percent of the nation's new jobs are being created right here in Houston," Craig Richard, the chief economic development officer of the Greater Houston Partnership, told MSNBC. "We have reasonable wage rates which allows business to keep other costs down. That's fantastic for businesses."
In February, Metrostudy revealed that more than 50,000 jobs had been created in the area year-over-year.
Experts cited the large spectrum of commercial real estate available in Houston as one of its most attractive qualities. With low rental spaces through large industrial offices, the Houston real estate market has a lot to offer potential businesses.
Los Angeles, Chicago, San Francisco and Toronto rounded out the top five of the firm's list.
Courtesy of 2M Realty News