Texas Emerges as Top Destination for U.S. Headquarters Relocations

Between 2018 and 2023, almost 500 companies relocated their U.S. headquarters, and nearly half chose Texas as their new home, according to a report by CBRE. The top reasons for these relocations were cited as the business climate and lower taxes. Texas saw the highest number of relocations, with 209 companies moving to the state during this period. The city of Austin, Texas, had the most corporate headquarters moves, with 66 relocations, including tech giants like Oracle and Tesla, leading to potential cost savings of 15-20% in tech employee wages. The trend reflects a broader shift of companies seeking cost savings, considering factors such as living costs, state income tax, and additional social and health-related considerations. Full article here: https://www.costar.com/article/1428784615/corporate-headquarters-relocations-decline