Location plays a critical role in business; this is the reason why you will find investors scouting for locations that can aid the growth of their business.
They usually employ business strategists or business consultants to help them conduct market surveys and feasibility studies when looking to set up a business in any city. That is why we have put up a comprehensive list of the best states to start a dump truck business in the United States.
Best 15 States to Start a Dump Truck Business
Texas ranks No. 1 state with the highest new home construction rate in 2023 according to a study done by RubyHome Luxury Real Estate – ABC13 Houston. According to the Federal Reserve Bank, construction accounted for 4.3 percent of US GDP in the first quarter of 2021.
In Texas, the Associated General Contractors of America reports that construction contributed $100.9 billion (5.3 percent) of the state’s $1.9 trillion GDP in 2020.
These figures are important to the dump truck business because the more the construction activities in a state, the more the demand for the services of the dump truck business.
Starting a dump truck business in Florida is advantageous due to the state’s thriving construction industry fueled by a rapidly growing population (as of 2022 data, there are about 22,244,823 people in Florida).
Available data shows that the Commercial Building Construction industry in Florida is expected to grow an annualized to $11.5 billion over the five years to 2023.
This is why the demand for construction and development services is consistently high, providing a steady flow of work for dump truck operators. There were 706,000 construction firms in the U.S. in 2017, including 52,664 in Florida.
Apart from that, Florida’s diverse economy, strategic location, and numerous infrastructure projects make it an attractive choice for the dump truck business.
Several indices support the growth of businesses including the dump truck business in California. The state has a massive economy, driven by diverse industries, technology hubs, and a flourishing construction sector.
It is projected that the revenue of construction in California will amount to approximately 340,3 billion U.S. Dollars by 2024.
With over 39 million people (according to July 2022 Census Bureau estimates), California is the nation’s most populous state. High population density and ongoing infrastructure projects ensure a consistent demand for transportation services.
Additionally, favorable business policies, access to capital, and a progressive regulatory environment support entrepreneurial endeavors.
Georgia presents an ideal environment for launching a dump truck business due to its flourishing construction sector and strategic economic positioning.
The state experiences consistent population growth (the current population of Georgia in 2023 is 3,728,282), resulting in sustained demand for construction services and infrastructure projects.
Available data shows that in Georgia, construction contributed $29.5 billion (4.7%) of the state’s GDP of $622.6 billion. Georgia’s business-friendly climate, low taxes, and proximity to major transportation routes contribute to operational efficiency.
Furthermore, the state’s commitment to economic development initiatives and a robust regional economy makes it conducive for entrepreneurs aiming to establish a successful dump truck business.
North Carolina offers a conducive environment for the growth of dump truck operations. The state benefits from a thriving construction industry driven by population growth and urban development.
Available data shows that North Carolina’s population will reach 10.9 million people by July 1, 2023 (an increase of 2.1%).
Apart from that, favorable economic conditions, strategic geographic location, and a business-friendly environment contribute to the growth of businesses in North Carolina. North Carolina for the second year in a row landed the No. 1 spot in CNBC’s annual ranking of the best states for business.
North Carolina’s commitment to innovation and a skilled workforce further aid in creating opportunities for the sustained growth of businesses, including dump truck operations.
All available indices show that the dump truck business will thrive in Colorado. Available data shows that in 2020, construction and construction-related retail sales in Colorado totaled $20.4 billion.
Construction in Denver has remained strong over the first part of the year. The area has seen unsustainably fast growth over the last ten years, with the cost of living increasing in tandem.
With Residential construction starting to slow, nonresidential construction has slowly increased since 2023. Colorado’s population in 2023 is estimated to be 5.86 million and it is the 22nd most populous state in the US.
Starting a dump truck business in Virginia is promising due to the state’s robust economy and strategic advantages. Proximity to Washington, D.C. ensures consistent demand for construction and infrastructure projects. When it comes to the ease of doing business, Virginia towers higher.
It might interest you to note that CNBC ranked Virginia the top state for business in 2021, 2019, 2011, 2009, and 2007. CNBC recently released its annual rankings of America’s Top States for Business in 2023.
Virginia, closely following North Carolina, ranked second in the list of 50 states across ten broad categories of competitiveness. Just seven years ago, Virginia ranked 13th in the same rankings of top states for business.
The truth is that starting a dump truck business in Arizona is advantageous due to the state’s growing population (7,449,502) and the resultant demand for construction services.
The flourishing construction sector, coupled with economic expansion, provides a steady stream of opportunities. Ongoing infrastructure projects and a thriving economy make Arizona an attractive choice for entrepreneurs seeking to establish and grow a successful dump truck business.
Apart from the growing construction market in Arizona, the state offers one of the lowest costs of doing business in the United States, primarily because of low taxes and small state government. While the national average of per-capita income going to taxes is 9.9 percent, here the number is only 8.4 percent.
The reasons why you should consider starting a dump truck business in Tennessee are the growing construction market, growing population, and business-friendly environment.
Available data shows that Tennessee’s population in 2023 is estimated to be 7.11 million, ranking 16th populous state in the United States.
Tennessee’s population increased by 140,553 people since from 2020 census. Even though Tennessee’s construction industry has seen a decline due to the fast-paced growth.
With Tennessee’s economy growing at an unsustainable pace as early as the 2010s, the construction market is beginning to correct. As of now, 2024 is projected to see a large increase in market volume.
Tennessee fosters a pro-business climate that gives access to vital economic components, such as a right-to-work environment, a dependable and educated workforce, and a wealth of technology resources that provide opportunities for business growth and profitability.
Utah’s population in 2023 is estimated to be 3.42 million, ranks 30th populous, its area is 84,899 sq miles (219,887 sq km), and ranks 13th largest in the United States.
Utah’s population increased by 109,186 people since the last census of 2020. Of course, residential construction is booming throughout Utah, but industry observers and lawmakers wonder if the supply of housing here will ever catch up with demand.
Utah is the state with the most new construction now being developed, with 11.7 new builds per 1,000 residents. Interestingly, Utah is friendly toward business startups with favorable laws and regulations.
Individual and corporate taxes remain low, which is encouraging for new companies and established businesses seeking relocation or expansion. Some of the largest companies in America have found their homes in Utah.
Some of the major indices that support the growth of businesses such as a dump truck business are available in Nevada. Nevada’s population in 2023 is estimated to be 3.2 million, ranks 33rd most populous state in the US.
Nevada is the seventh largest state with 110,577 square miles (286,382 sq km) in the United States. To top it up, Nevada has always been a popular state for businesses.
Some of the main reasons for that are a low-cost startup, regulatory, licensing, and annual fees, taxes and tax structure, privacy of business owners, and competitive utility rates for commercial operations.
The booming construction industry and of course, the fast-growing tech sectors are part of what are contributing to the viability of a dump truck business.
Washington’s total population grew to 7,951,150 in 2023, according to annual estimates prepared by the Office of Financial Management. The state saw an estimated 86,750 additional residents this year.
It is projected that the revenue of construction in Washington will amount to approximately 80,5 billion U.S. Dollars by 2024.
Apart from that, another reason why you should consider starting your new dump truck business in Washington is because Washington State is consistently ranked as one of the best places to start a business.
The state has more than 250,000 businesses registered, from one-person start-ups to some of the most familiar names in retailing, aircraft, software, and outdoor recreation equipment.
The reason why you should consider starting a dump truck business is because some of the indices that support the growth of businesses including dump truck business are present in Oregon.
Oregon’s population in 2023 is estimated to be 4.23 million, ranks the 27th populous state, and its area is 98,381 sq miles (254,806 sq km), the ninth largest state in the United States.
Oregon state records a slight increase of 2,846 people since the last census of 2020. The Oregon Employment Department estimates the construction industry will experience a growth rate of 17% between 2021 and 2023.
Growth is expected in every construction subsector, with the highest percentage increase anticipated in residential building construction (26%).
Oregon is known for its pro-business climate. Even though the state is home to corporate conglomerates like Nike and Intel, 99% of Oregon’s companies are small businesses.
Oregon offers governmental support for small businesses, incentive programs, a favorable tax system, and a highly educated workforce.
It is safe to say that North Dakota is an ideal state to start a dump truck business. For example, with a thriving oil and gas drilling sector (generated $50.1b so far in 2023) in North Dakota, there will always be a corresponding increase in the services of dump trucks to transport some of the wastes generated in the oil and gas drilling field.
North Dakota’s population in 2023 is expected to be 779,133 inhabitants, it is the 47th populous state and its area is 70,761 square miles (183,843 sq km) and ranks nineteenth in the US.
Business incentives, government accessibility, and workforce performance, combined with North Dakota’s favorable position as one of the lowest-cost states for operating a business, are driving top companies to establish operations in North Dakota.
South Carolina is an ideal location to start a dump truck business due to several factors, including its strong infrastructure, thriving construction industry, and favorable business climate. South Carolina’s population in 2023 is estimated to be 5.35 million.
The state’s extensive network of highways and roads facilitates efficient transportation of materials, while its growing construction sector generates consistent demand for dump truck services.
South Carolina is becoming an increasingly popular place to start a new business, largely due to the low cost of doing business, making the state one of the smallest business-friendly states in the country.