Corporate Relocations/Expansions

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eburress
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Re: Corporate Relocations/Expansions

Postby eburress » 22 Dec 2021 10:02

^^ It was a bank branch as long as I can remember, going back to the late 80s.

Tnexster
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Re: Corporate Relocations/Expansions

Postby Tnexster » 28 Dec 2021 16:45

2022 look ahead: Will Dallas-Fort Worth capitalize on its full relocation pipeline?
At least 21 companies relocated to North Texas in 2021.

https://www.dallasnews.com/business/loc ... -pipeline/

Despite losing out on those big-ticket projects, local economic development officials say there is a “full pipeline” of potential deals heading into the new year.

“I think everyone really expected a pretty significant slowdown on projects and relocations, and that really hasn’t been the case,” Fort Worth economic development director Robert Sturns said. “Our pipeline is really full. So I can imagine everyone else within the state of Texas has a full pipeline as well.”

Heading into 2022, there’s a key economic development lure that could set off an even bigger scramble.

A decades-old law known as Chapter 313 that’s designed to lure companies with property tax breaks expires at the end of 2022. It’s Texas’ largest corporate tax incentive program.

The potential loss of a multibillion-dollar program has some predicting it will set off a rush of applicants in 2022 as companies try to lock in massive tax breaks before time runs out.

Tnexster
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Re: Corporate Relocations/Expansions

Postby Tnexster » 31 Dec 2021 11:31

Large corporate interest in relocating, expanding in DFW jumps fourfold amid pandemic

https://www.bizjournals.com/dallas/news ... aecom.html

The COVID pandemic has accelerated, rather than dampened, interest in Dallas-Fort Worth as a site for headquarters for businesses and other organizations seeking to move or grow, Dale Petroskey, president and of the Dallas Regional Chamber, said Friday at a luncheon for the economic development and business recruitment group.


The regional chamber is tracking 111 projects that are seriously considering a relocation to DFW — more than four times the 25 projects on the chamber’s radar in the months before the pandemic hit the U.S., Petroskey said.

“We are more attractive now than we were before,” he said. “So that's very exciting.”

Tnexster
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Re: Corporate Relocations/Expansions

Postby Tnexster » 31 Dec 2021 11:39

North Texas primed to corral more corporate relocations heading into 2022

https://www.bizjournals.com/dallas/news ... tlook.html

In terms of population, Texas added the most residents of any state by raw numbers in 2021.

The Lone Star State gained an estimated 310,288 people, a roughly 1.1% increase, between July 1, 2020 and July 1, 2021, according to the data released Dec. 21 by the U.S. Census Bureau. That factors in both migration and births. Texas was estimated to have a population of 29.5 million by July of this year.

California, meanwhile, lost residents for the second year in a row. The Golden State fell by an estimated 261,902 residents from July 1, 2020, to July 1, 2021, marking just the second year since at least 1900 that the state’s population has dipped, according to the Census estimates.


In addition to the strong outlook for corporate headquarters, attracting major events to DFW is an economic development priority for the region and the city of Dallas. Two big-ticket prospects are primed to make announcements on that front early in 2022, said Dallas Mayor Eric Johnson, who spoke at the regional chamber meeting.

The Summit of the Americas and the FIFA World Cup would be a boon to the Dallas-area economy and a boost to the city and region’s international prestige, Johnson said.

Tnexster
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Re: Corporate Relocations/Expansions

Postby Tnexster » 05 Jan 2022 16:37

California technology company relocating corporate headquarters to DFW

https://www.bizjournals.com/dallas/news ... inney.html

Review Wave, a software marketing company in Irvine, is moving its headquarters to McKinney, according to an announcement on Tuesday. The company has an agreement with the McKinney Economic Development Corporation (MEDC), and the company plans to create more than 70 new “high-tech and executive” jobs over the next three years, bringing the total to 130.

Tnexster
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Re: Corporate Relocations/Expansions

Postby Tnexster » 10 Jan 2022 13:11

Dallas is a finalist for $160 million Ford and Argo AI self-driving vehicle facility
The city of Dallas will vote Wednesday to approve an incentive package aimed at luring the plant to Dallas.

https://www.dallasnews.com/business/aut ... -facility/

The city of Dallas will vote Wednesday to approve more than $3 million in proposed tax breaks to entice Ford to bring its next self-driving vehicle facility to the city.

Ford has partnered with driverless vehicle tech firm Argo AI to develop its autonomous vehicle technology. Dallas and two cities in California are the finalists for the partnership’s next facility, according to city documents.


The project is expected to create at least 250 full-time jobs, half of which would have to be residents of Dallas in order for the company to receive the full tax and grant funding benefits of the proposal.

The location outlined in the city proposal is a plot of land just west of Dallas Love Field airport at 2335 Burbank St.

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Re: Corporate Relocations/Expansions

Postby cowboyeagle05 » 10 Jan 2022 13:40

Did everyone see that Meta parent company of Facebook leased out the tallest building in Downtown Austin? Nice for them but just makes the tech employment market even more tighter for Austin.

https://www.bloomberg.com/news/articles/2022-01-09/meta-expands-in-texas-with-major-office-lease-in-downtown-austin

Facebook’s Meta Expands in Texas With Major Office Lease
The company has leased half of what will be Austin’s tallest skyscraper, making the social media giant the latest major business to expand in the state. Meta is leasing 589,000 square feet across 33 floors, a spokesperson said Sunday, confirming an earlier report from the Austin Business Journal. It will account for the entire commercial half of a 66-story tower under construction in the heart of Austin’s downtown area.
“Growth for the sake of growth is the ideology of the cancer cell”

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potatocoins
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Re: Corporate Relocations/Expansions

Postby potatocoins » 10 Jan 2022 19:15

Congrats to Austin! I'm quite envious of all the tech companies that have set up shop there, I was really hoping (urban) Dallas would have snagged a couple more of them by now. Very happy Uber decided to move to Deep Ellum, just hope that it eventually encourages more tech companies to start moving here as well.

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Re: Corporate Relocations/Expansions

Postby Tnexster » 31 Jan 2022 14:10

Exxon Mobil to move headquarters out of Irving

https://www.bizjournals.com/dallas/news ... allas.html

Exxon Mobil Corp. (NYSE: XOM) is finally making the Houston area its official headquarters.

The energy giant will move its headquarters from Irving in the Dallas-Fort Worth area to its 385-acre campus in City Place, the master-planned community formerly known as Springwoods Village. The move is expected to be complete by mid-2023, Exxon said Jan. 31.

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Cbdallas
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Re: Corporate Relocations/Expansions

Postby Cbdallas » 01 Feb 2022 07:56

I saw this project being built early on off of I-45 and once I found out it was Exxon's project I knew their Headquarters here would be moving. What seems to me is Houston is still doubling down on Energy but Austin and Dallas are diversifying even more towards finance and tech. Long term I would rather have diversification.

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eburress
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Re: Corporate Relocations/Expansions

Postby eburress » 01 Feb 2022 10:06

Yeah, Exxon Mobil lasted much longer here than I expected. It's a bummer to see a Fortune 10 company go but it makes sense with the industry so consolidated in Houston.
Last edited by eburress on 01 Feb 2022 12:06, edited 1 time in total.

cowboyeagle05
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Re: Corporate Relocations/Expansions

Postby cowboyeagle05 » 01 Feb 2022 10:50

Hey that just means the rest of their HQ will be open for redevelopment.
“Growth for the sake of growth is the ideology of the cancer cell”

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tamtagon
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Re: Corporate Relocations/Expansions

Postby tamtagon » 05 Feb 2022 11:22

We do seem to be on the cusp of attracting the kinds companies looking for a downtown location in addition to those looking for a suburban spread. If Goldman lands on Field Street, maybe the sting from losing a Fortune 10 company will be overpowered by the addition of a handful of Fortune 500 in the greater downtown area.

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Tucy
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Re: Corporate Relocations/Expansions

Postby Tucy » 07 Feb 2022 10:23

tamtagon wrote:We do seem to be on the cusp of attracting the kinds companies looking for a downtown location in addition to those looking for a suburban spread. If Goldman lands on Field Street, maybe the sting from losing a Fortune 10 company will be overpowered by the addition of a handful of Fortune 500 in the greater downtown area.


What makes you think we are "on the cusp of attracting . . . companies looking for a downtown location"?

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Hannibal Lecter
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Re: Corporate Relocations/Expansions

Postby Hannibal Lecter » 11 Feb 2022 09:40

Let the conjecture begin....

Top Amazon exec has moved to Dallas from the Seattle area

One of the top executives at Amazon has moved to North Texas from the Seattle area.

Dave Clark, CEO of Amazon worldwide consumer, moved to Dallas in the fall a spokesperson confirmed on Thursday. Business Insider earlier reported that Clark moved from the Seattle suburb of Medina.

Clark took over the position early last year and has been with the company for more than two decades.

The move follows investments by Amazon (Nasdaq: AMZN) in the local region, including multiple sites and the hiring of thousands of workers. That includes efforts its massive e-commerce business that's helped deliver products throughout the Dallas area amid the pressures of COVID-19.

Clark purchased a home in Highland Park, according to Business Insider, which cited a real estate agent, Joan Eleazer, who showed several homes to the couple.

...

https://www.bizjournals.com/dallas/news ... mazon.html

willyk
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Re: Corporate Relocations/Expansions

Postby willyk » 13 Feb 2022 03:45

Tucy wrote:
tamtagon wrote:We do seem to be on the cusp of attracting the kinds companies looking for a downtown location in addition to those looking for a suburban spread. If Goldman lands on Field Street, maybe the sting from losing a Fortune 10 company will be overpowered by the addition of a handful of Fortune 500 in the greater downtown area.


What makes you think we are "on the cusp of attracting . . . companies looking for a downtown location"?


Goldman on Field Street would make sense, in order to be in there will all of the financial services businesses and all of the professional talent.

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tamtagon
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Re: Corporate Relocations/Expansions

Postby tamtagon » 19 Feb 2022 15:38

Tucy wrote:
tamtagon wrote:We do seem to be on the cusp of attracting the kinds companies looking for a downtown location in addition to those looking for a suburban spread. If Goldman lands on Field Street, maybe the sting from losing a Fortune 10 company will be overpowered by the addition of a handful of Fortune 500 in the greater downtown area.


What makes you think we are "on the cusp of attracting . . . companies looking for a downtown location"?


The region (state) is going to appeal to companies looking to relocate HQ location as a way to increase profit for quite some time, could be another generation and 3.5+ million more residents. There's no expectation that the suburban corporate-estate campus trend will decline; it'll mutate into something different but what kick-started Richardson and Plano will continue, but if that trend does subsides nationally, the logistic advantages of North Texas will keep the exurbs growing into suburbs.

Greater downtown Dallas still has quite a bit of municipal work before it's a great downtown, but the last 20 years have seen an evolution in the CBD and the firm establishment of Uptown as a place that's not so crappy. :P While the best description of 'downtown' quality of life was Null in 2000, today, seems like you could call it not so bad. But with every new residential building the greater downtown area becomes more and more viable. There's several distinct neighborhoods within walking distance of each other improving the appeal of a home without a yard beyond the urban pioneers of the past two decades. Design District, Deep Ellum, Cedars are really building variety of life into Dallas as a Place. That's what makes me think Downtown Dallas is on the cusp of attracting companies looking to relocate into an urban environment.

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Re: Corporate Relocations/Expansions

Postby willyk » 22 Feb 2022 22:55

/\ Hear hear Tamtagon.

Three more residential conversions starting in downtown soon. That’s objective evidence that downtown is becoming more and more appealing. Developers would not be spending this much money there were it not the case.

https://www.dallasnews.com/business/rea ... ew-towers/

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Tucy
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Re: Corporate Relocations/Expansions

Postby Tucy » 23 Feb 2022 13:04

willyk wrote:/\ Hear hear Tamtagon.

Three more residential conversions starting in downtown soon. That’s objective evidence that downtown is becoming more and more appealing. Developers would not be spending this much money there were it not the case.

https://www.dallasnews.com/business/rea ... ew-towers/


Objective evidence that downtown is become more appealing for residential, yes. But it provides no evidence that it is becoming more appealing or on the cusp of becoming more appealing for corporate relocations (if anything it provides objective evidence of the opposite).

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tamtagon
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Re: Corporate Relocations/Expansions

Postby tamtagon » 24 Feb 2022 06:36

I haven't kept track of companies moving into/out of the CBD/Uptown if a while, but anecdotally, haven't more board rooms set up shop in the area than have left in the last couple years? Maybe not enough to identify as a trend... yet? Uber was a real bust, and CBRE was a move that happened some time back just didn't have the official press release and official documents. East Quarter snagged a couple new-to-the-area office tenants I think and didn't that new building in Deep Ellum sign some fresh blood too?

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Re: Corporate Relocations/Expansions

Postby willyk » 26 Feb 2022 04:31

The other bigs would be AT&T staying and doing the Discovery District, JP Morgan Chase, FDIC and Invitation Homes which have all re-upped. Some notable losses would be Tenet and Goldman although Goldman appears to be headed only to the other side of Woodall.

The DDI list below shows a number new legal and financial services firm leases that I would have expected to go to Uptown only a few years ago. The availability of a vibrant residential and restaurant scene have to be a positive factor for them because those things help them recruit here just like they do for the furms in Uptown.

The Woods mega project on Field and the Portman mega project on Ross both have as good a chance of making as the Hunt project across the freeway. We could not have said that few years back.

https://downtowndallas.com/business/dev ... -projects/

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tamtagon
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Re: Corporate Relocations/Expansions

Postby tamtagon » 27 Feb 2022 10:03

I'd like to see some advertising agencies move to Dallas from Chicago... I know there was talk about Nasdaq (I think) moving operations to Dallas area, but I think a more likely move would be a reinvention and relocation of Chicago Commodities trading to Dallas. Logistics have changed, and true to the history of 'enterprising men' that helped sway businesses to Dallas in the past, a very contemporary generation of business developers could move/lure trade decision making from Chicago and the rest of the Midwest to Dallas. Still waiting on another cargo airport in the Southeastern quadrant to rival Alliance.

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Re: Corporate Relocations/Expansions

Postby itsjrd1964 » 28 Feb 2022 13:43

Yet another out-of-state bank coming to Dallas. TD Bank from Canada is buying Memphis-based First Horizon. There are First Horizon branches in Preston Center and in west Plano. The acquisition will give TD its first banking presence in TX.

https://www.reuters.com/business/financ ... 022-02-28/

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Re: Corporate Relocations/Expansions

Postby Tnexster » 05 May 2022 15:02

Boeing expected to leave Chicago for new HQ in Washington, D.C., area
A move to Arlington, Virginia, would put Boeing executives close to officials for their key customer, the Pentagon, and the Federal Aviation Administration, which certifies Boeing passenger planes.

https://www.dallasnews.com/business/air ... -dc-area/#

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Addison
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Re: Corporate Relocations/Expansions

Postby Addison » 05 May 2022 20:02

Tnexster wrote:Boeing expected to leave Chicago for new HQ in Washington, D.C., area
A move to Arlington, Virginia, would put Boeing executives close to officials for their key customer, the Pentagon, and the Federal Aviation Administration, which certifies Boeing passenger planes.

https://www.dallasnews.com/business/air ... -dc-area/#


If I may ask, how is this relevant to Dallas?

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Re: Corporate Relocations/Expansions

Postby KCHornedFrog » 05 May 2022 20:06

Addison wrote:
Tnexster wrote:Boeing expected to leave Chicago for new HQ in Washington, D.C., area
A move to Arlington, Virginia, would put Boeing executives close to officials for their key customer, the Pentagon, and the Federal Aviation Administration, which certifies Boeing passenger planes.

https://www.dallasnews.com/business/air ... -dc-area/#


If I may ask, how is this relevant to Dallas?


Boeing almost selected Dallas as their HQ 20 years ago?

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Re: Corporate Relocations/Expansions

Postby R1070 » 05 May 2022 21:25

Addison wrote:
Tnexster wrote:Boeing expected to leave Chicago for new HQ in Washington, D.C., area
A move to Arlington, Virginia, would put Boeing executives close to officials for their key customer, the Pentagon, and the Federal Aviation Administration, which certifies Boeing passenger planes.

https://www.dallasnews.com/business/air ... -dc-area/#


If I may ask, how is this relevant to Dallas?

It's interesting to know because Boeing choosing Chicago over Dallas is what really got local leaders thinking about ways to make the central city more attractive.

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IcedCowboyCoffee
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Re: Corporate Relocations/Expansions

Postby IcedCowboyCoffee » 06 May 2022 11:46

Yeah I guess there's an alternative reality where Boeing was here for 20 years then relocated to DC. But in that reality I suspect they would have left sooner.

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Cbdallas
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Re: Corporate Relocations/Expansions

Postby Cbdallas » 09 May 2022 09:55

Looking like Twitter may move from San Fran to Texas (Austin).

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Re: Corporate Relocations/Expansions

Postby Tivo_Kenevil » 09 May 2022 09:56

Cbdallas wrote:Looking like Twitter may move from San Fran to Texas (Austin).


It was only a matter of time.

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Addison
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Re: Corporate Relocations/Expansions

Postby Addison » 09 May 2022 13:35

Cbdallas wrote:Looking like Twitter may move from San Fran to Texas (Austin).


Was there ever any doubt when Elon Musk bought it?

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Re: Corporate Relocations/Expansions

Postby cowboyeagle05 » 09 May 2022 14:57

Umm just because some reporters are creating that rumor doesn't mean he will just pick up the 7,000 plus employees and move them to Austin. I get that Elon hates California now but he has a lot of the company to actually wrestle into his vision without losing too much of its workforce from a walkout. I still haven't seen Elon say anything about moving the company to Austin just that since many employees work outside the office there isn't a need for a big San Fran office anymore. Does someone have some further news or tweets that he wants to move the company to Austin? I just reviewed his tweets and see no evidence of this even being a realistic rumor.
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Addison
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Re: Corporate Relocations/Expansions

Postby Addison » 09 May 2022 16:15

cowboyeagle05 wrote:Umm just because some reporters are creating that rumor doesn't mean he will just pick up the 7,000 plus employees and move them to Austin. I get that Elon hates California now but he has a lot of the company to actually wrestle into his vision without losing too much of its workforce from a walkout. I still haven't seen Elon say anything about moving the company to Austin just that since many employees work outside the office there isn't a need for a big San Fran office anymore. Does someone have some further news or tweets that he wants to move the company to Austin? I just reviewed his tweets and see no evidence of this even being a realistic rumor.


Elon Musk doesn't have to move all 7,000 employees from California to Texas, nor does he have to close the California office, in order to move Twitter's HQ to Texas.

^^^I'm assuming the poster above was only talking about a HQ move.

That said, it's certainly within reason to conclude that Twitter's HQ will also end up to Austin given 1) The company's CEO lives in Austin (usually, HQs land wherever the CEO resides), 2) He moved Tesla's HQ to Austin without a hitch and 3) Elon Musk himself hinted at it when he joked about turning the current San Francisco HQ into a homeless shelter in a tweet.

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flyswatter
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Re: Corporate Relocations/Expansions

Postby flyswatter » 09 May 2022 21:12

Twitter's corporate careers website shows offices in multiple cities and honestly a little surprised there is absolutely no Texas presence. Abbott is probably drooling at the thought of throwing Twitter some tax breaks so he can add Austin to this list:

Atlanta
Boston
Boulder
Chicago
Detroit
Los Angeles
Miami
New York
San Francisco
San Jose
Seattle
Washington DC

Regardless, a HQ move to Texas would probably mean little...Most employees will remain virtual and some will leave, which would accomplish Elon's goal of cutting costs.

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Re: Corporate Relocations/Expansions

Postby cowboyeagle05 » 12 May 2022 12:29

Basically, the equal to UNT moving its Board of Regents to Downtown Dallas but the real value is the giant university is in Denton which aint going anywhere. I don't doubt that Abbott would love to be able to make it seems like by having Twitter in Austin it will make it more conducive to conservative values.
“Growth for the sake of growth is the ideology of the cancer cell”