Why did people settle Tatooine?

Has it ever been stated in Legends or modern canon that Tatooine has some kind of resource that would explain setting up a colony there? For example, is there some kind of fuel that's mined on the planet? Alternatively, is it the closest planet to some kind of hyperlane exit/entrance? Out of a galaxy of planets to choose from where, from what we've seen, most are pretty empty except for one or two major cities, Tatooine is a poor choice to live on if there's not some industry that would force people to live there.