Since 2020, 140 companies have relocated to Texas, with 40% of them moving from California.
This week Fisher Investments moved its headquarters from Washington state to Texas due to a state supreme court ruling on taxes. They were the latest in a growing list of businesses moving to Texas thanks to better business and financial conditions.
Just this month, I wrote about Landsea Home Corps, one of the largest homebuilders in the United States, announcing it would move its corporate headquarters from California to Dallas, Texas.
This was followed by Inbenta Holdings Inc., an international artificial intelligence firm, relocating its headquarters away from the San Francisco area to a tower on U.S. Highway 75 in Allen, Texas.
"We see a lot of high-profile tech companies that people have heard of, like Elon Musk’s fleet of firms. But it’s not just a tech boom. We see McLaren, the luxury sports car company, and others relocate. People are moving, and companies are moving....I think to a lot of people outside of Texas and even within it, there’s not necessarily a sense of how broad-based the boom is occurring in the state and how long lasting it might be. And it has real national significance because as population growth stagnates in America, Texas is really the engine for the economy and population growth." Alexandra Suich Bass, senior correspondent for The Economist
This is leading to a boom in jobs in Texas, something Texas Gov. Greg Abbott is proud of.
"Texas is the economic envy of America. Over 2 MILLION jobs added since 2015. 2 years of uninterrupted job growth Over 14 MILLION Texans working. Working together this session, we’ll ensure Texas remains the best state to work & run a business." Texas Gov. Greg Abbott
Your thoughts
Are you glad to see more businesses relocate to Texas? What other companies would you like to see move to Texas? Do you believe Texas offers more opportunities than California? Are you concerned about more out-of-staters moving to Texas?
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