In a previous blog post I wrote about where most of the buyers from other states were coming from. Today I list more recent Corporations who moved their headquarters which meant many employees relocated from other states to Texas.
From the Texas Economic Development and Tourism Report from the Headquarters Relocation to Texas
Headquarter Relocations announced in Texas (2015 - April 2024): 297 Total HQ relocations adding 6,490 new jobs in Texas. The acceleration period occurred between 2020 through 2021.
- 2015 14 HQ's
- 2016 20 HQ's
- 2017 20 HQ's
- 2018 30 HQ's
- 2019 30 HQ's
- 2020 42 HQ's
- 2021 79 HQ's
- 2022 38 HQ's
- 2023 17 HQ's
- 2024 7 HQ's
Total California HQ Relocations announced in Texas (2015 - April 2024): 149 Total HQ relocations adding 3,255+ new jobs from employees from California.
Why are so many Headquarters moving to Texas?
Business taxes in Texas are on the lower side and there is no personal income tax. The combined state and federal corporate tax rate in Texas stands at 21% - the lowest in the U.S. The tax on businesses or franchise tax is 0.375% for businesses with annual receipts between $1.18 million to $10 million. If receipts are lower than $1.18 million there is no need to pay any franchise tax.
Since 2020, 171 Corporations relocated Headquarters to the State of Texas. In North Texas these includes the following. Source: Every Company Moving To Texas: 2020-2024
From TIAA in Colorado to Frisco, Texas. Note: On August 9, 2024, TIAA confirmed it will close its downtown its Denver office in 2026).
From McAfee in San Jose, California to Frisco, Texas
From Fischer Investments in Camas, Washington to Plano, Texas
From Frontier in Connecticut to Dallas, Texas (now Building Gigabit America)
From Caterpillar in Illinois to Irving, Texas
From AECOM Global HQ in LA, California to Dallas, Texas
From Charles Schwab in San Francisco, California to Westlake, Texas
From CBRB Group in LA, California to Dallas, Texas
Other HQ from California chose other parts of TX including:
X (Twitter) to Austin
Chevron to Houston
Space X to Austin
Boring (Elon Musk) to Pflugerville
Tesla to Austin
Oracle to Austin
Hewlett Packard Enterprise to Spring
and there are many more moving HQ from CA to TX
In addition, many Veterans have relocated or moved back to Texas, however, I do not have a report on numbers who moved in recent years. Also, I have no records to show how many people chose to move to TX without HQ assistance.
In sum, HQs are on the move to the Lone State and their people are too. Others are moving here too.
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