STATES THAT HAVE GROWN THE MOST FROM 2010 CENSUS TO 2020 CENSUS…

When you build self-storage facilities you have to follow the population. The following is a list of the states that have had the highest increases in population from the 2010 census to the 2020 census.

Idaho

Nevada

North Dakoda

Texas

Utah

then

Arizona

Colorado

Florida

Georgia

Minnesota

Montana

North Carolina

Oregon

South Dakota

South Carolina

Tennessee

Virginia

Washington

Washington, DC

For the past two days, I have listed cities where the population has grown or will grow from the movement of hi-tech companies to a number of college towns. But these are a list of states and using states as an indication of where to build self-storage facilities is not the best thing to do. You have to do further analysis and determine the cities that have grown the most in these states to follow the population increase.

It is obvious that the capital of these states and the major cities would be the best choices but you still have to dig further. You have to look at communities. When I help clients choose a location for their self-storage facility I go to the location and literally walk the streets. I will ask what changes have taken place in these communities in the last 3 to 5 years and I will also go to the planning commissions and see what projects are scheduled to be built in these locations.

You also have to look at competing self-storage facilities and see what their occupancy rates are and how far they are from where you propose to build your facility. I have heard over and over again that people in the industry are afraid that there is an over-saturation of self-storage facilities in places like Texas, Florida, and a few other states. But there are also areas in some of these states that are growing like weeds like Las Vegas, North Las Vegas, and Henderson Nevada in Clark County.

Even though we build self-storage facilities for you in such a way as to eliminate your income tax burden for a number of years at Self Storage Consulting & Construction, LLC there are 9 states that have no state income taxes and those states attract people just for that attribute.

Those states are:

Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming. Three out of the nine states I just mentioned are not on the list of states with the greatest population increases in the last ten years but that leaves six states that are on the list.

But I am finding that it is difficult to convince people that saving them income tax dollars is just about the same as not paying any state income taxes at all. With a million dollars in bonus depreciation or more, you won’t be paying Federal or State income taxes for a very long time.

My name is Paul Levine and I am the Managing Member of Self Storage Consulting & Construction, LLC. You can call me at (818) 298 – 4000 after 10 AM Pacific Time 7 days a week. Or, you can send an email to me at either [email protected] or [email protected].