Dallas Fort Worth Urban Forum

Corporate Relocations/Expansions

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Tucy
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Re: Corporate Relocations/Expansions

Postby Tucy » 11 May 2020 12:26

eburress wrote:I think it's a certainty because Musk is over CA's BS. Unfortunately for us I think Nevada might win out, but it would be worth it for TX to roll out the red carpet, shell out the incentive money, etc...


The most important question might be... is California also over Musk's BS?

Follow-up Question: Are we ready for Musk's BS?

;-)

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eburress
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Re: Corporate Relocations/Expansions

Postby eburress » 11 May 2020 15:22

I say bring it on!

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muncien
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Re: Corporate Relocations/Expansions

Postby muncien » 12 May 2020 08:59

The worst thing we could do for our chances would be to put Judge Clay Jenkins face on it... Just sayin...
But, glad to see the Mayor making a push.
"He doesn't know how to use the three seashells..."

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TNWE
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Re: Corporate Relocations/Expansions

Postby TNWE » 12 May 2020 09:48

muncien wrote:The worst thing we could do for our chances would be to put Judge Clay Jenkins face on it... Just sayin...
But, glad to see the Mayor making a push.

It's honestly weird to see him making such overtures to Musk and Tesla, considering that Musk's latest feud is over...not wanting to comply with stay-at-home orders. I guess it's lucky for Tesla that they sell luxury electric cars and not craft supplies or haircuts...

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Tivo_Kenevil
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Re: Corporate Relocations/Expansions

Postby Tivo_Kenevil » 12 May 2020 12:40

They'll move the manufacturing to Nevada. HQ to Austin prolly

Tnexster
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Re: Corporate Relocations/Expansions

Postby Tnexster » 12 May 2020 14:05

Is Dallas really going to be the first major city to rebound from Covid 19? Seems like we are not and will not be.

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eburress
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Re: Corporate Relocations/Expansions

Postby eburress » 12 May 2020 15:44

^^ Are there other cities better positioned to rebound and/or reasons why DFW wouldn't?

Tnexster
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Re: Corporate Relocations/Expansions

Postby Tnexster » 12 May 2020 22:27

I saw something yesterday about Austin being the best and only well positioned large city in Texas on the road to a quick recovery. It was a national story, not sure who ran it thought.

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eburress
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Re: Corporate Relocations/Expansions

Postby eburress » 12 May 2020 22:49

I wonder what was their rationale. I'm sure Austin is well-positioned, but not sure how or why they'd be the only Texas city. Maybe Dallas with its airline woes and Houston with its oil/energy woes?

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tamtagon
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Re: Corporate Relocations/Expansions

Postby tamtagon » 13 May 2020 06:28

I hope the fossil fuel economy stays down, continues to diminish. Fracking is an perverse practice, whoring the environment for a quick fix. We should be weening ourselves such an unhealthful source of energy.

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muncien
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Re: Corporate Relocations/Expansions

Postby muncien » 13 May 2020 09:32

eburress wrote:I wonder what was their rationale. I'm sure Austin is well-positioned, but not sure how or why they'd be the only Texas city. Maybe Dallas with its airline woes and Houston with its oil/energy woes?


A bit of irony is that I would think the blow to the airline industry is a little softened by the low energy prices. That's kinda the opposite of what happened post 9/11. They're still in quite the mess, and who knows how long this will go on for. But it certainly isn't the end of the world for them.

I know it's anecdotal, but I know several folks who are already buying tickets for leisure travel... People are just itching to get out and do something. I might add that they are flying out of California... lol
"He doesn't know how to use the three seashells..."

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TNWE
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Re: Corporate Relocations/Expansions

Postby TNWE » 13 May 2020 11:32

muncien wrote:
eburress wrote:I wonder what was their rationale. I'm sure Austin is well-positioned, but not sure how or why they'd be the only Texas city. Maybe Dallas with its airline woes and Houston with its oil/energy woes?


A bit of irony is that I would think the blow to the airline industry is a little softened by the low energy prices. That's kinda the opposite of what happened post 9/11. They're still in quite the mess, and who knows how long this will go on for. But it certainly isn't the end of the world for them.

I know it's anecdotal, but I know several folks who are already buying tickets for leisure travel... People are just itching to get out and do something. I might add that they are flying out of California... lol


The airlines already keep track of who's on what flight, and other than Southwest, where they all sit - if airplane cabins were a significant vector of transmission we'd have heard about it by now and epidemiologists would have maps of where patient zero was sitting and which passengers around them got infected. People love to blame the "filthy" airplane every time they get sick during/after traveling, but the jet lag is the more likely culprit - time changes and poor sleep wreak havok on your immune system.

I've already seen several friends declare that they're not getting on a plane or having their hair cut till this passes because they don't want to "kill grandma" but their snapchat stories show them eating out and going to house parties. It's pretty clear that media narratives have skewed people's understanding of what is actually high-risk, and the airlines will have to fight an uphill battle against that stigma.

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eburress
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Re: Corporate Relocations/Expansions

Postby eburress » 13 May 2020 11:47

At least one of the airlines wasn't named Corona! Now **that** is an uphill battle! hahaha

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Zmitz
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Re: Corporate Relocations/Expansions

Postby Zmitz » 15 May 2020 09:05

https://www.dallasnews.com/business/ret ... pirations/

Here's another out of state win (albeit fairly small).

The retail chain Buff City Soap is moving its headquarters from Memphis to the Dallas area...The company has not publicly specified where it’ll locate its headquarters in North Texas or the timing of the move. Buff City Soap has 35 locations in 11 states, including two in North Texas. The Dallas-Fort Worth stores are in Allen and Van Alstyne.

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utgf
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Re: Corporate Relocations/Expansions

Postby utgf » 15 May 2020 22:01

Tesla picks Austin and Tulsa as finalists for new US factory

The new factory will be Tesla's biggest so far. The electric car maker has said it wants the factory to be in the center of the country and closer to East Coast markets.

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Tivo_Kenevil
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Re: Corporate Relocations/Expansions

Postby Tivo_Kenevil » 15 May 2020 22:13

They'll move the manufacturing to Austin and the HQ.

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clcrash19
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Re: Corporate Relocations/Expansions

Postby clcrash19 » 15 May 2020 22:16

Yea all indications they are moving a bunch of stuff to Austin, will only make that town even more crowded

I45Tex
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Re: Corporate Relocations/Expansions

Postby I45Tex » 16 May 2020 04:12

Tivo_Kenevil wrote:They'll move the manufacturing to Austin and the HQ.


I think the superior access to water, power, freight transportation, housing, and experienced heavy manufacturing management, scientific, and shop floor talent bases are all in Tulsa over Austin (a lot of technical equipment and instruments for industry even outside of oilfield and aviation products -- look up John Zink, for instance, which Koch bought a few years ago). I think that those will appeal to Tesla, and the Tulsa/Tesla wordplay will appeal to their CEO.

DPatel304
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Re: Corporate Relocations/Expansions

Postby DPatel304 » 16 May 2020 13:01

Looks like DFW won't be getting this one, but I'm happy for it to either go to Tulsa or Austin.

I don't know much about Tulsa, but I'd definitely like to see a popular company like Tesla go there and put them on the map a little more.

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jovan_gonzales
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Re: Corporate Relocations/Expansions

Postby jovan_gonzales » 16 May 2020 14:46

I think I see this going to Tulsa over Austin. If it's manufacturing, I see OK and Tulsa being way cheaper. They are also an inland port city (Port of Catoosa), so shipping goods there is probably easier and more cost efficient than Austin. Also, Tulsa is better positioned as a transport hub for rail and highway than Austin. I am not sure if the advantage of a flashy city and UT will necessarily win over the cost-effectiveness that Tulsa offers over Austin. They don't seem comparble to leverage one against the other, so I'm not sure exactly why those two.

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clcrash19
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Re: Corporate Relocations/Expansions

Postby clcrash19 » 21 May 2020 20:57

https://techcrunch.com/2020/05/21/faceb ... mote-work/


Facebook announced three remote hubs today for Dallas, Denver and Atlanta. Doesn't sound a official office but still a physical workspace for employees and new hires to congregate and work together, would like this in the cbd area or close by so we will see

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Cord1936
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Re: Corporate Relocations/Expansions

Postby Cord1936 » 21 May 2020 21:40

Why Would Amazon Scope Out JCPenney? It’s The Real Estate, Baby!
Dallas Bisnow, May 19, 2020, by Kerri Panchuk

Rumor has it struggling JCPenney Co. is a possible acquisition target for Jeff Bezos' Amazon.

JCPenney filed for Chapter 11 bankruptcy Friday and said it would close about 240 of its 846 stores permanently over the next two years. If Amazon stepped in and bought the company, it could be a quick, relatively cheap way to get a large brick-and-mortar footprint, similar to its acquisition of Whole Foods in 2017.

The e-commerce giant hasn't confirmed or denied reports of a possible Penney's acquisition probe, with a spokesperson for Amazon telling Bisnow Tuesday the retailer doesn't respond to rumors. But this is a big rumor, considering the e-commerce giant is often considered the final stake through the heart of department stores like Plano, Texas-based JCPenney.

Retail experts believe Amazon is either expanding its apparel vertical or shopping for prime space in key suburban markets where it desires additional last-mile delivery locations or package pickup and drop-off hubs.
....
The idea that Bezos and Amazon see Penney's as a real estate play is not a stretch for market observers. Several days ago, news reports said Penney's planned to spin off its real estate holdings into a separate REIT. Analysts previously told Bisnow many of Penney's assets are valuable enough to make it through bankruptcy.

With Penney's, like most department stores, holding key sites in consumer-centric neighborhoods, Amazon could pick up a massive distribution footprint on the cheap to get deliveries closer to customers.

Penney's has a strong network of stores in rural and urban areas in some of the largest U.S. states, with 82 in Texas, 71 in California and 52 in Florida alone.
....
Full Article: https://www.bisnow.com/dallas-ft-worth/ ... um=Browser

DPatel304
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Re: Corporate Relocations/Expansions

Postby DPatel304 » 22 May 2020 20:40

clcrash19 wrote:https://techcrunch.com/2020/05/21/facebook-hubs-remote-work/


Facebook announced three remote hubs today for Dallas, Denver and Atlanta. Doesn't sound a official office but still a physical workspace for employees and new hires to congregate and work together, would like this in the cbd area or close by so we will see


For Menlo Park employees looking for greener pastures, there’s one sizable catch. Starting on January 1 of next year, the company will localize all salaries, scaling compensation to the cost of living in the enclaves Facebook employees may soon find themselves scattered to.


Interesting tidbit about salaries. There isn't much information here, so it's really hard to say how significant this is, but it would be cool to see them set up shop Downtown somewhere. Actually, I wouldn't mind if they went to Deep Ellum as that would mean we'd have two tech giants located there.

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clcrash19
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Re: Corporate Relocations/Expansions

Postby clcrash19 » 22 May 2020 21:23

Yes I am hoping the physical space or office ends up in downtown, uptown or deep ellum

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Tucy
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Re: Corporate Relocations/Expansions

Postby Tucy » 04 Jun 2020 08:11

Another loss for central Dallas.

Dallas’ Heritage Auctions is more than doubling its headquarters with a move to a business campus near DFW International Airport.

The more than 40-year-old auction house has moved 450 employees from its current location in Dallas’ Oak Lawn district and elsewhere to a new building on Airport Freeway at the south end of DFW Airport.

Tnexster
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Re: Corporate Relocations/Expansions

Postby Tnexster » 08 Jun 2020 15:51

A WORKFORCE ON REMOTE CONTROL
As companies recover from Covid-19, the Bay Area’s HQs, jobs and workers may all be at risk

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

Now, as cost-cutting becomes an urgent priority for companies laid low by the pandemic’s economic fallout, corporate relocation experts expect the impetus to shed the Bay Area’s pricey real estate, plentiful taxes and expensive government mandates will become even more compelling. That means Texas could stand to benefit.

Meanwhile, Bay Area companies like Twitter, Square and Facebook are making working from home a permanent or long-term option for virtually all of their workforce. Those employees can go elsewhere, confident that they can take well-paying jobs with them to places where those dollars will stretch farther. Details for these working arrangements are still being developed by employers.

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Tucy
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Re: Corporate Relocations/Expansions

Postby Tucy » 22 Jun 2020 12:24

And another loss for central Dallas:

https://www.dallasnews.com/business/rea ... struction/

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Tivo_Kenevil
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Re: Corporate Relocations/Expansions

Postby Tivo_Kenevil » 22 Jun 2020 13:36

West Coast University at Dallas. Lol

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Hannibal Lecter
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Re: Corporate Relocations/Expansions

Postby Hannibal Lecter » 22 Jun 2020 16:19

You have to admit the new location makes a lot more sense for them, in terms of proximity to their target demographic.

Tnexster
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Re: Corporate Relocations/Expansions

Postby Tnexster » 23 Jun 2020 14:04

Probably not in Dallas proper but could be a big win for Texas.

Site selector: After factory, Texas could land Tesla HQ
'Austin suddenly emerges as the frontrunner for this crown jewel economic development project'

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

“The next shoe to drop will be Tesla’s headquarters,” said John Boyd, CEO of The Boyd Company. “Austin suddenly emerges as the frontrunner for this crown jewel economic development project — the Tesla headquarters.”

Boyd said Tesla considered about eight sites for the new plant, likely parcels in Kentucky and Tennessee as well as Tulsa — also considered a finalist — and Dallas and San Antonio.

Rumors have circling for weeks that in addition to being a finalist for its Cybertruck plant, Austin may also be in the running for Tesla’s headquarters. Boyd said there is some credence to the rumors.

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Tucy
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Re: Corporate Relocations/Expansions

Postby Tucy » 21 Jul 2020 11:52

North Texas Realtors moving from central Dallas to Irving with new headquarters

https://www.dallasnews.com/business/rea ... dquarters/

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eddieg1
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Re: Corporate Relocations/Expansions

Postby eddieg1 » 23 Jul 2020 14:15

Elon Musk announces next Tesla factory location

https://mashable.com/article/tesla-austin-factory/

And the winner is... Austin, Texas.

Elon Musk finally announced the location of Tesla's next U.S. car plant on Wednesday's earnings call. The gigafactory is where the forthcoming Cybertruck will be built.

About 2,000 acres on the Colorado River is "basically going to be an ecological paradise," Musk said. The area around the factory will be open to the public and only 15 minutes from downtown Austin.

DPatel304
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Re: Corporate Relocations/Expansions

Postby DPatel304 » 23 Jul 2020 14:50

Congrats, Austin! It never really felt like DFW was in the running here, so I'm happy to see it come to another Texas city!

This will be great publicity for Austin and for the state of Texas.

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eburress
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Re: Corporate Relocations/Expansions

Postby eburress » 07 Oct 2020 13:04

This would be fancy...

Nasdaq Inc. in talks with Texas Gov. Abbott about relocating trading systems to D-FW, sources say

Nasdaq Inc. is in talks with Texas Gov. Greg Abbott about potentially relocating the exchange’s electronic trading systems from New Jersey to Dallas-Fort Worth, according to two sources familiar with the discussions.

Other trading exchanges also could be involved in the discussions, both sources said.

Abbott confirmed the talks with Nasdaq in a tweet after The News published this story online. “They want to flee high taxes,” he wrote. “I let them know that we just passed a constitutional amendment banning an income tax in Texas.”


https://www.dallasnews.com/business/202 ... urces-say/

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clcrash19
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Re: Corporate Relocations/Expansions

Postby clcrash19 » 07 Oct 2020 14:37

Would be incredible if it happens

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tamtagon
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Re: Corporate Relocations/Expansions

Postby tamtagon » 07 Oct 2020 16:14

I'd like to see commodities like oil, natural gas, electricity, cotton, soybeans, wheat, beef, pork traded in Dallas.

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Tivo_Kenevil
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Re: Corporate Relocations/Expansions

Postby Tivo_Kenevil » 07 Oct 2020 18:01

Not surprised..DFW quietly has amassed some FinTech. The Depository Trust & Clearing Corp. (major players in Financial Market transaction reconcilation) is based in Coppell and Schwab recently moved over. I doubt they'll move to Downtown. But nice nonetheless

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Hannibal Lecter
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Re: Corporate Relocations/Expansions

Postby Hannibal Lecter » 07 Oct 2020 22:40

tamtagon wrote:I'd like to see commodities like oil, natural gas, electricity, cotton, soybeans, wheat, beef, pork traded in Dallas.


Everything's electronic now. The old trading floors remain only for show and nostalgia.

The biggest strike against DFW in this is that we're about 1370 miles from NYC. That's around 7 milliseconds as the photon flies. 14 milliseconds round trip. That's HUGE when you're talking about high velocity trading. A few years a group spent $300 million to build a semi-private fiber link between London and NYC just to cut 2-3 milliseconds off the communications time between the two.

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eburress
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Re: Corporate Relocations/Expansions

Postby eburress » 08 Oct 2020 08:17

Perhaps this would be the start of a larger shift; an entire Wall Street relocation to North Texas... :)

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Kidazze
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Re: Corporate Relocations/Expansions

Postby Kidazze » 08 Oct 2020 08:34

eburress wrote:Perhaps this would be the start of a larger shift; an entire Wall Street relocation to North Texas... :)


:D This would be curious to see for sure

DPatel304
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Re: Corporate Relocations/Expansions

Postby DPatel304 » 08 Oct 2020 09:41

Hannibal Lecter wrote:Everything's electronic now. The old trading floors remain only for show and nostalgia.

The biggest strike against DFW in this is that we're about 1370 miles from NYC. That's around 7 milliseconds as the photon flies. 14 milliseconds round trip. That's HUGE when you're talking about high velocity trading. A few years a group spent $300 million to build a semi-private fiber link between London and NYC just to cut 2-3 milliseconds off the communications time between the two.


Wow, I never thought about this, but that's actually pretty fascinating to know! It sounds like such a small, insigificant amount of time, but I suppose that can make a huge difference when you're talking about high velocity trading, like you said.

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CTroyMathis
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Re: Corporate Relocations/Expansions

Postby CTroyMathis » 08 Oct 2020 15:10

Seems like this could go several ways. Convince/coerce Jersey to find another way to balance their budget and not tax the trade transactions from the large volume trading firms, and they win and stay. Move to Virginia Commonwealth which has some translant cable connections also. Maybe NoVa, Richmond, or Hampton Roads. Maybe some other ideas as well. Perhaps even just at least set up alternate locations like in Chicago anyway - in DFW and/or other places w/good access to alternative energy if that is desired.

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tamtagon
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Re: Corporate Relocations/Expansions

Postby tamtagon » 08 Oct 2020 15:49

Could also be back office jobs, not associated with the need for speed.

I saw a show one time about the transition to nyse digital transaction. Something about brokers in Chicago noticing they were always getting beaten by the NYC brokers... So the servers used by the NYC brokers had to have hundreds of feet of cable installed to slow the transaction enough to accommodate the distance between NYC and Chicago.

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Redblock
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Re: Corporate Relocations/Expansions

Postby Redblock » 29 Oct 2020 09:15

CBRE is moving its headquarters from Los Angeles to Dallas.

https://www.wfaa.com/article/money/busi ... ea9399704c

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TNWE
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Re: Corporate Relocations/Expansions

Postby TNWE » 29 Oct 2020 12:02

tamtagon wrote:Could also be back office jobs, not associated with the need for speed.

I saw a show one time about the transition to nyse digital transaction. Something about brokers in Chicago noticing they were always getting beaten by the NYC brokers... So the servers used by the NYC brokers had to have hundreds of feet of cable installed to slow the transaction enough to accommodate the distance between NYC and Chicago.


Yup - its the same principle audio engineers use to keep different speaker channels from phasing (I think there are more modern alternatives now, but fundamentally it's the same principle - making all the electrical signals travel the same wire distance, even if the physical endpoints are all at various locations.)

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Austin55
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Re: Corporate Relocations/Expansions

Postby Austin55 » 29 Oct 2020 21:33

CBRE is a HUGE get. They are such a massive player in the game we all like to talk about, real estate. Exciting.

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eburress
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Re: Corporate Relocations/Expansions

Postby eburress » 30 Oct 2020 04:03

Indeed! Has there been mention of how many positions would be relocated from LA?

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Hannibal Lecter
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Re: Corporate Relocations/Expansions

Postby Hannibal Lecter » 30 Oct 2020 10:41

eburress wrote:Indeed! Has there been mention of how many positions would be relocated from LA?


They're saying they won't be moving a significant number of jobs from LA, but new positions will be created over time. The CEO already has a house here and has been commuting between the offices.

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Tucy
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Re: Corporate Relocations/Expansions

Postby Tucy » 30 Oct 2020 11:03

The company's new corporate address will be 2100 McKinney Ave. in Uptown Dallas.

https://www.bizjournals.com/houston/new ... l2cTh5MCJ9

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OrangeMike
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Re: Corporate Relocations/Expansions

Postby OrangeMike » 18 Nov 2020 20:32

Korean fried chicken restaurant Bonchon moves global headquarters to Dallas
https://www.dallasnews.com/food/restaur ... to-dallas/

Korean fried chicken franchise Bonchon announced it will move its global headquarters from New York City to Dallas on Jan. 1. With the move, company execs will be able to put a greater focus on growing the restaurant brand in Texas. It will also allow New York employees to work remotely or move to Dallas.

CEO Flynn Dekker was drawn to Dallas because it’s affordable and is situated in the middle of the country, he says. He also likes that the headquarters at the Dallas North Tollway and Arapaho Road is accessible to an international airport.


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