One of the big changes for The Ross Companies in recent years was our expansion to Austin, Texas. 

When a New Yorker thinks of wealth and Texas, the 1970s/80s primetime TV soap opera Dallas comes to mind. The big hats may have been everywhere, but the big money was certainly in Dallas. We can admit, The Ross Companies’ New Yorker view of Texas was a little limited and shaped by distance. 

In our process of discovering Austin, The Ross Companies learned something really interesting: the most expensive zip codes are in Austin, which is also the fastest-growing city for millionaires in Texas. Of Texas’s 10 most expensive zip codes, five are right in Austin, and one is not far from Austin in Johnson City. 

It might be changing times, or it might be clarifying our perception, but Austin is where things are currently happening. What is driving the boom in Austin? It’s science and technology. Where Dallas and Houston were built on cattle and oil, technology is making things happen in Austin. 

The semiconductor and microchip industry has a big presence in Austin. Samsung, AMD, Oracle, Intel, ARM and NXP all have significant operations in Austin. Dell is headquartered in Austin, while IBM and Apple have a substantial footprint. Amazon, Google, Cisco, Tesla, and Charles Schwab’s fin tech development operation are also in Austin. That’s a small fraction of the big companies in Silicon Hills, as the tech sector has nicknamed the region, and there will only be more to come in the future. 

The region is also home to the University of Texas, a major public research institution that understandably has a growing reputation as a high-tech center of learning. And Austin is the state capitol, and therefore home to the seat of government, plus many lobbyists.

With these businesses firmly in place, Austin is becoming a hotbed of all kinds of innovation and activity. This is the kind of environment that we believe can continue to feed and sustain its growth for years to come. 

As a bonus, Austin is fun. The city’s Independent Business Alliance promotes the slogan “Keep Austin Weird.” It’s got a passionate arts and music scene, a vibrant dining scene, it is home to what many experts consider the best barbecue restaurant in the country (Franklin Barbecue). As New Yorkers, we are suckers for a great brisket.

The Ross Companies is here to serve the Austin entrepreneurs who are experiencing success alongside these many businesses that are exploding. We say our business is beyond life insurance, and enterprises that are growing can benefit from the kind of guidance and experience The Ross Companies has provided to clients for decades. Our experience with successful business owners in the garment industry or trucking business can translate seamlessly into the tech industry. After all, when you boil it down, creating a plan to protect an enterprise and to plan for succession or a buyout is going to be mechanically very similar. 

For nearly 90 years, The Ross Companies has been advising clients on how to resolve complex financial problems using insurance and other tools. These problems can include estate taxes, succession, buy outs, preservation of assets, or executive compensation. Our long history informs our thinking, and while many situations may be similar, we have learned well that each solution must be unique to the circumstances and individuals being served.