Why Elon Musk, other CEOs are moving to Texas

Texas provides ‘economic freedom’: Ross Perot Jr.

The Perot Companies and Hillwood Chairman Ross Perot Jr. argues the housing market remains strong and the increase in businesses moving to Texas is due to the state providing ‘economic freedom.’

As billionaires like Elon Musk move their businesses from states like California and New York to Texas, Ross Perot Jr. touted his state as the place for economic optimism and confidence going into 2021.

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"I've never seen it in my career, doing this over 30 years, the number of people moving in and they're moving into a state that has economic freedom," the Perot Companies and Hillwood Chairman told "Mornings with Maria."

"We're optimistic. We have reasonable taxes, reasonable regulations. We're very affordable, and we want your business," the son of the former presidential candidate said.

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Perot called Abbott the "number one salesperson" for the Lone Star State.

"Our governor has called each of these CEOs and welcomed them to the state," Perot said adding, "that's our attitude."

Perot, a real estate developer in the Dallas-Fort Worth area, said Texas has a "very strong recovery" and said his industry has not slowed down during the pandemic.

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"As this e-commerce boom continues to take hold, we are very busy. So in the industrial world we're busy. Housing is busy. We're confident about 2021, but if you're in Texas, our restaurants are open. Our stores are open. It feels about [80%] to 90% normal in this state," he said.

Perot said they've built almost 50,000 new homes and now the "biggest challenge" is getting labor to build the homes.

"So it is a boom and we feel 2021 is going to strong," he said.

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