Corporate Relocations/Expansions

DPatel304
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Re: Corporate Relocations/Expansions

Postby DPatel304 » 19 Nov 2020 09:37

As the economy starts to really get back on track in 2021, I have a feeling we'll be seeing a lot more relocations to Texas and the DFW area.

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tamtagon
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Re: Corporate Relocations/Expansions

Postby tamtagon » 22 Nov 2020 07:41

https://www.dallasnews.com/business/202 ... s-mansion/

Abbott: Stock exchange coalition ‘impressed’ in visit to Texas Governor’s Mansion

By Dom DiFurio

5:55 PM on Nov 20, 2020 CST
...
The group meeting with Abbott calls itself the Coalition To Prevent the Taxing of Retirement Savings. It includes Nasdaq, CBOE Global Markets, Citadel Securities, data center operator Equinix, IEX, Members Exchange, New York Stock Exchange owner Intercontinental Exchange, TD Ameritrade Holding Corp., Virtu Financial and UBS.
...
Abbott said the exchanges are eyeing Dallas-Fort Worth for a potential move.
...
The state’s abundance of renewable energy, its independent power grid and cheap cost for electricity compared to New Jersey were discussed with the group, Abbott said. Tech giants Facebook and Google have already seized on the Texas power advantage, having invested in large data centers in North Texas recently.


To be clear, these stock exchanges would still be headquartered in New York, it's the electronic trading infrastructure that would relocate... data centers.

Isn't there something about the wiring in the Design District that makes it a very desirable location for heavy users of electricity and speed of electronic transactions?

Rewilding the Trinity River Park will be so much nicer if the powerlines were below ground, so how about we bundle some projects... upgrade the electricity delivery infrastructure (including an array of those fancy new batteries) all through downtown to Regal Row, putting it below grade. The reliable availability of high volume electricity will bring more heavy usering customers like the stock exchanges... removing the powerlines will make the Park that much nicer.

The imitative to bank the renewable energy will incent those kinds of companies to Dallas, too.

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Ace
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Re: Corporate Relocations/Expansions

Postby Ace » 14 Dec 2020 15:09

Why are these relocations to Austin great news for Dallas-Fort Worth? From a distance, the two areas appear to be one in the same. There is a growing symbiosis between Austin and Dallas - Fort Worth just as a symbiotic relationship exists pertaining to the aerospace industry in both Fort Worth and Witchita, Kansas and in areas between them.

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Re: Corporate Relocations/Expansions

Postby Tnexster » 28 Dec 2020 09:57

Amid California exodus, will Wells Fargo, Uber or Chevron’s headquarters be next to go?

https://www.bizjournals.com/dallas/news ... or-ch.html

There’s a short list of companies that already seem to have one foot out the door — whether it’s Wells Fargo (NYSE: WFC), with its CEO based in New York, or Chevron (NYSE: CVX) employing more people in Houston than it does in the Bay Area.

The Bay Area’s Fortune 500 companies often reiterate their commitment to the region — until one day unveiling plans to move their headquarters out of state. Such was the case with Irving-based McKesson (NYSE: MCK), which told the San Francisco Business Times on Nov. 8, 2018, that its headquarters is in San Francisco. Three weeks later, McKesson disclosed that its headquarters was headed to Texas.

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maconahey
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Re: Corporate Relocations/Expansions

Postby maconahey » 28 Dec 2020 18:16

Charles Schwab to Officially Move Headquarters to Denton County on Jan. 1

As part of the merger, the combined company’s headquarters would relocate from San Francisco to North Texas.

Schwab’s $100 million campus is located in Westlake at the corner of Highways 170 and 114.

The campus covers 500,000 square feet on more than 70 acres of land.

The Schwab campus, which covers 500,000 square feet on more than 70 acres of land, will be located in Hillwood’s Circle T Ranch development.



https://www.nbcdfw.com/news/local/charl ... 1/2514658/

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Tivo_Kenevil
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Re: Corporate Relocations/Expansions

Postby Tivo_Kenevil » 05 Jan 2021 20:15

From SF to Denton. What a shift.

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Kelley USA
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Re: Corporate Relocations/Expansions

Postby Kelley USA » 06 Jan 2021 11:08

I've driven by the new HQ a number of times... It's actually a pretty impressive campus that they've built! Not sure the location is attractive for young working professionals, but for employees relocating with families it's pretty solid. I think Westlake, Southlake, Colleyville & Grapevine all have a lot to offer for those moving down from SF.

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Re: Corporate Relocations/Expansions

Postby Tnexster » 06 Jan 2021 11:40

Exclusive: Another real estate firm relocates headquarters from Los Angeles to Dallas

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

A fast-growing real estate firm focused on multifamily investment is relocating its corporate headquarters to Dallas from Los Angeles.

Lion Real Estate Group LLC, which has about 150 employees and $1 billion in assets under management, is moving its headquarters into office space at 3811 Turtle Creek Blvd., the company’s co-founders said in an exclusive interview with the Dallas Business Journal on Tuesday.

The company will keep its Los Angeles office to support West Coast operations.

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Re: Corporate Relocations/Expansions

Postby Tnexster » 28 Feb 2021 11:34

Exclusive: $50B global investment firm eyes new office in Dallas, sources say

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

Fortress Investment Group, a multi-billion dollar global investment manager based in New York, is looking to grow its office presence in North Texas, according to sources with knowledge of the deal.

The company is looking to take two floors, or about 50,000 square feet, around Turtle Creek, Knox-Henderson or Uptown Dallas, sources say. The company already has a smaller office in Las Colinas at Williams Square, according to its website.

At least one top executive at the company, Andrew McKnight, is already based in Dallas, according to the company's website. McKnight serves as co-chief investment officer and managing partner of Credit Funds.

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Re: Corporate Relocations/Expansions

Postby Tnexster » 01 Mar 2021 14:32

Texas leads the nation for businesses sinking billions of dollars into relocations, expansions
Site Selection magazine, which has compiled the rankings since 1978, said Texas had 781 projects in 2020, almost twice as many as No. 2 Ohio.

https://www.dallasnews.com/business/eco ... xpansions/

For the ninth consecutive year, Texas has outpaced every other state by a big margin for the most new and expanded corporate facilities, according to a new report released Monday.

Site Selection magazine, a trade publication that’s compiled the annual ranking since 1978, said Texas had 781 projects in 2020 to lead the list. Runner-up Ohio had 419 projects.

Both top states had fewer projects in the year that started out with a strong economy that was slammed by the pandemic.

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Re: Corporate Relocations/Expansions

Postby Tnexster » 23 Mar 2021 15:31

Crescent Real Estate’s John Goff is getting ready for a post-COVID boom
Goff’s commercial property is doing big deals to get ready for a surge of relocations to Texas.

https://www.dallasnews.com/business/rea ... ovid-boom/

He thinks the steady stream of companies coming to Dallas and Texas from coastal markets will turn into a flood as the pandemic subsides. “We are in the epicenter of relocations,” Goff said. “The relocations are only going to be amplified as we continue to see tax policy changes in various states.

“Dallas-Fort Worth is going to get a disproportionate share of those moves,” he said. “Texas is just going to be a magnet for business.”

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Re: Corporate Relocations/Expansions

Postby DPatel304 » 23 Mar 2021 16:34

I'm obviously biased, but that's how I've been feeling about Texas during this pandemic as well, and my opinion has not changed at all now that we are nearing the end of it.

Everything that made the economy strong pre-COVID is still true for Texas. As far as COVID, it seems like we were more lax with our restrictions which probably helped our local economy compared to some of the coastal areas.

I really hope I'm right and we see a more relocations to the DFW area, but I suppose only time will tell.

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Addison
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Re: Corporate Relocations/Expansions

Postby Addison » 24 Mar 2021 16:09

Tnexster wrote:Crescent Real Estate’s John Goff is getting ready for a post-COVID boom
Goff’s commercial property is doing big deals to get ready for a surge of relocations to Texas.

https://www.dallasnews.com/business/rea ... ovid-boom/

He thinks the steady stream of companies coming to Dallas and Texas from coastal markets will turn into a flood as the pandemic subsides. “We are in the epicenter of relocations,” Goff said. “The relocations are only going to be amplified as we continue to see tax policy changes in various states.

“Dallas-Fort Worth is going to get a disproportionate share of those moves,” he said. “Texas is just going to be a magnet for business.”


On a somewhat related note, CBRE just released a report that ranked Austin and DFW as the 1st and 2nd most preferred metros for investment in 2021.

http://cbre.vo.llnwd.net/grgservices/se ... a389911828

The housing situation will definitely need to be resolved somehow though. These 2 metros already have the worst shortage in the country.
Last edited by Addison on 24 Mar 2021 16:19, edited 1 time in total.

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Tivo_Kenevil
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Re: Corporate Relocations/Expansions

Postby Tivo_Kenevil » 24 Mar 2021 16:15

Austin taking over, telling u guys.

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Addison
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Re: Corporate Relocations/Expansions

Postby Addison » 24 Mar 2021 16:21

Tivo_Kenevil wrote:Austin taking over, telling u guys.


I know your comment was kind of tongue in cheek, but there is truth to that.

It literally seems to be turning into San Francisco Bay Area 2.0

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Tivo_Kenevil
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Re: Corporate Relocations/Expansions

Postby Tivo_Kenevil » 24 Mar 2021 16:29

Addison wrote:
Tivo_Kenevil wrote:Austin taking over, telling u guys.


I know your comment was kind of tongue in cheek, but there is truth to that.

It literally seems to be turning into San Francisco Bay Area 2.0


Yep. Plus they're constantly being rated as one of the best places to live. The way things are going i wouldn't be surprised if Austin surpassed Dallas in population sooner rather than later.

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Addison
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Re: Corporate Relocations/Expansions

Postby Addison » 24 Mar 2021 16:38

Tivo_Kenevil wrote:
Addison wrote:
Tivo_Kenevil wrote:Austin taking over, telling u guys.


I know your comment was kind of tongue in cheek, but there is truth to that.

It literally seems to be turning into San Francisco Bay Area 2.0


Yep. Plus they're constantly being rated as one of the best places to live. The way things are going i wouldn't be surprised if Austin surpassed Dallas in population sooner rather than later.


I don't know about all of that. DFW is still the clear growth leader outside the tech realm.

It will probably be more like a SF <---> LA dynamic, whereas DFW is LA.

EDIT: Never mind. I see you were talking about Dallas proper and Austin proper.

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I45Tex
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Re: Corporate Relocations/Expansions

Postby I45Tex » 24 Mar 2021 18:07

Most of Austin's annexable ETJ that isn't already landlocked is between Niederwald and Manor on a bland landscape far from everything intown.

Subdivisions getting built on that side of town so far compare unfavorably to Collin County.

Tying that back to the thread subject -- everything is rosy for a stock when the ceiling has never been found yet. It could be anything. But a fair part of the optimism starts faltering as soon as a ceiling is found. We're seeing that with Tesla and we'll see it with ATX.

Austin talks like it's inventive. But it didn't start taking off until the 1950s and it has never stopped since. It won't know if it can reinvent itself until the first time that it has to do so. Dallas hasn't quite hit that roadblock yet either, while other former boosterish can-do boomtowns like Shreveport and Tulsa are up against it now. I don't think Texans really take it seriously -- think we have economic antigravity in our blood. That will not prove true.

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Re: Corporate Relocations/Expansions

Postby undefinedprocess » 26 Mar 2021 10:45

I45Tex wrote:Most of Austin's annexable ETJ that isn't already landlocked is between Niederwald and Manor on a bland landscape far from everything intown.

Subdivisions getting built on that side of town so far compare unfavorably to Collin County.

Tying that back to the thread subject -- everything is rosy for a stock when the ceiling has never been found yet. It could be anything. But a fair part of the optimism starts faltering as soon as a ceiling is found. We're seeing that with Tesla and we'll see it with ATX.

Austin talks like it's inventive. But it didn't start taking off until the 1950s and it has never stopped since. It won't know if it can reinvent itself until the first time that it has to do so. Dallas hasn't quite hit that roadblock yet either, while other former boosterish can-do boomtowns like Shreveport and Tulsa are up against it now. I don't think Texans really take it seriously -- think we have economic antigravity in our blood. That will not prove true.

So if you were to summarize this into one sentence (in layman's terms), what would that be (for Austin & Dallas)?

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Re: Corporate Relocations/Expansions

Postby DPatel304 » 26 Mar 2021 11:03

Tivo_Kenevil wrote:Yep. Plus they're constantly being rated as one of the best places to live. The way things are going i wouldn't be surprised if Austin surpassed Dallas in population sooner rather than later.


Austin: 950,000
Dallas: 1,330,000

Seems unlikely given how far ahead Dallas already is. I don't know what the population trends are for each city though.

It feels like Austin will price people out of the city quicker than Dallas will, which may hurt growth? I mean, I'd say it is currently working in Austin's favor because their city feels a lot more cohesive and together than Dallas currently does, but the downside is less room to grow/develop.

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Tucy
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Re: Corporate Relocations/Expansions

Postby Tucy » 26 Mar 2021 14:48

DPatel304 wrote:
Tivo_Kenevil wrote:Yep. Plus they're constantly being rated as one of the best places to live. The way things are going i wouldn't be surprised if Austin surpassed Dallas in population sooner rather than later.


Austin: 950,000
Dallas: 1,330,000

Seems unlikely given how far ahead Dallas already is. I don't know what the population trends are for each city though.

It feels like Austin will price people out of the city quicker than Dallas will, which may hurt growth? I mean, I'd say it is currently working in Austin's favor because their city feels a lot more cohesive and together than Dallas currently does, but the downside is less room to grow/develop.


Between 2010 and 2019, Dallas grew by 12.2%. Austin grew 23.9% in the same period.
Assuming the same rates of growth are continued, it would be some time around 2050.

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tamtagon
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Re: Corporate Relocations/Expansions

Postby tamtagon » 26 Mar 2021 15:10

South Dallas will turn over well before austin catches up.

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Re: Corporate Relocations/Expansions

Postby Tnexster » 29 Mar 2021 11:33

Tucy wrote:
DPatel304 wrote:
Tivo_Kenevil wrote:Yep. Plus they're constantly being rated as one of the best places to live. The way things are going i wouldn't be surprised if Austin surpassed Dallas in population sooner rather than later.


Austin: 950,000
Dallas: 1,330,000

Seems unlikely given how far ahead Dallas already is. I don't know what the population trends are for each city though.

It feels like Austin will price people out of the city quicker than Dallas will, which may hurt growth? I mean, I'd say it is currently working in Austin's favor because their city feels a lot more cohesive and together than Dallas currently does, but the downside is less room to grow/develop.


Between 2010 and 2019, Dallas grew by 12.2%. Austin grew 23.9% in the same period.
Assuming the same rates of growth are continued, it would be some time around 2050.


:lol: :lol: :lol:

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Re: Corporate Relocations/Expansions

Postby Tnexster » 05 Apr 2021 13:21

California’s First Foundation Inc. establishes new Texas HQ at Uptown Dallas’ The Crescent
The company’s chief executive said the D-FW area reminds him of Southern California 30 years ago, where the company got its start.

https://www.dallasnews.com/business/ban ... -crescent/

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Re: Corporate Relocations/Expansions

Postby willyk » 24 Apr 2021 07:06

It’s worth noting that as we compare relocations in Dallas and Austin, that relocating companies see the two towns as very different. Dallas is a headquarters town whereas Austin is a startup and technology town.

For example, Dallas has the headquarters of more than 20 Fortune 500 companies and Austin has only 2. So Dallas is the place to go (I) if you want to move your headquarters because it has the professional services firms you need, (ii) if you want to build or grow a large company because of the pool of C Level talent or (iii) if you want to make sales calls on corporate headquarters.

I am not dissing Austin. It has captured the imagination of lots of young talented people. But if you want to relocate HQs this is the place to be.

Here are the company lists.
•Dallas: https://en.wikipedia.org/wiki/List_of_c ... _metroplex
•Austin: https://en.wikipedia.org/wiki/List_of_c ... tin,_Texas

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Re: Corporate Relocations/Expansions

Postby Addison » 24 Apr 2021 10:41

willyk wrote:It’s worth noting that as we compare relocations in Dallas and Austin, that relocating companies see the two towns as very different. Dallas is a headquarters town whereas Austin is a startup and technology town.

For example, Dallas has the headquarters of more than 20 Fortune 500 companies and Austin has only 2. So Dallas is the place to go (I) if you want to move your headquarters because it has the professional services firms you need, (ii) if you want to build or grow a large company because of the pool of C Level talent or (iii) if you want to make sales calls on corporate headquarters.

I am not dissing Austin. It has captured the imagination of lots of young talented people. But if you want to relocate HQs this is the place to be.

Here are the company lists.
•Dallas: https://en.wikipedia.org/wiki/List_of_c ... _metroplex
•Austin: https://en.wikipedia.org/wiki/List_of_c ... tin,_Texas


I know this is flawed and somewhat streotypical, but as a general rule, the way I see it is:

*If you're tied to the Military, you go to San Antonio

*If you're in Tech, you go to Austin

*If you're in Oil/Gas, you go to Houston

For everything else, Dallas is the place that excels.

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Kelley USA
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Re: Corporate Relocations/Expansions

Postby Kelley USA » 29 Apr 2021 13:37

Another good win for the DFW Region... Caterpillar bringing its Electric Power Division to Las Colinas, consolidating several locations, and bringing several hundred jobs. They'll be taking multiple floors at Williams Square.

https://www.dallasnews.com/business/rea ... fice-move/

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

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Re: Corporate Relocations/Expansions

Postby Tnexster » 14 May 2021 16:29

Vanguard says Dallas will be the location of its 5th U.S. office as competition in D-FW heats up
The office will be focused on its adviser business.

https://www.dallasnews.com/business/ban ... -heats-up/

Vanguard is the latest financial company to be lured to Dallas by its talented workforce.

The Valley Forge, Pa.-based global investment management giant will establish its fifth U.S. office in Dallas. The office will focus on its advice businesses, including its Personal Adviser Services, which manage $231 billion. The new office isn’t intended for in-person client meetings as Vanguard’s Personal Adviser Services work via phone, email and videoconferencing.

The physical space will open in 2022, with employees working remotely until then. The company said it’s exploring real estate options and will disclose hiring and staffing plans in coming months. Vanguard has about 15,500 employees in the U.S.

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tamtagon
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Re: Corporate Relocations/Expansions

Postby tamtagon » 14 May 2021 18:54

Any chance for greater downtown?

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Addison
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Re: Corporate Relocations/Expansions

Postby Addison » 15 May 2021 05:08

Tnexster wrote:Vanguard says Dallas will be the location of its 5th U.S. office as competition in D-FW heats up
The office will be focused on its adviser business.

https://www.dallasnews.com/business/ban ... -heats-up/

Vanguard is the latest financial company to be lured to Dallas by its talented workforce.

The Valley Forge, Pa.-based global investment management giant will establish its fifth U.S. office in Dallas. The office will focus on its advice businesses, including its Personal Adviser Services, which manage $231 billion. The new office isn’t intended for in-person client meetings as Vanguard’s Personal Adviser Services work via phone, email and videoconferencing.

The physical space will open in 2022, with employees working remotely until then. The company said it’s exploring real estate options and will disclose hiring and staffing plans in coming months. Vanguard has about 15,500 employees in the U.S.


In addition to their Philadelphia HQ, it seems they currently have offices in Phoenix, Charlotte and DC.

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Addison
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Re: Corporate Relocations/Expansions

Postby Addison » 15 May 2021 19:07

This one really slipped under the radar.

Another publicly traded East Coast company relocates HQ to Dallas

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

A public New York company tied to the golf industry has relocated its headquarters to North Dallas.

Drive Shack shifted its executive hub to Dallas from New York earlier this year, CFO Michael Nichols said during a call with analysts this month while noting charges related to the transition. Drive Shack has a market valuation of more than $200 million.

The company now lists its main address as 10670 N. Central Expressway, Suite 700 in Dallas, according to a regulatory filing. It had earlier listed an address on West 18th Street in New York as its headquarters.

The move adds yet another public company to the Dallas area, joining a list with names like Schwab and CBRE that have made the transition. This year, East Coast companies like Ribbon Communications and 5G LLC have opted to relocate to North Texas.

Drive Shack is an owner and operator of golf-related leisure and entertainment venues. That puts it in competition with Topgolf, which earlier this year merged with Callaway Golf Co., a deal that combines two of the largest names in the industry and is now headquartered in Carlsbad, Calif. Topgolf's headquarters remain in Dallas...

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Re: Corporate Relocations/Expansions

Postby dd_dweller » 19 May 2021 12:38

With ATT buying out Discovery, does this do anything for its headquarters here in downtown? Will they bring jobs here or a tv broadcasting station to the Discovery district? Maybe build a new building? I could only wish.

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Re: Corporate Relocations/Expansions

Postby Addison » 19 May 2021 13:40

dd_dweller wrote:With ATT buying out Discovery, does this do anything for its headquarters here in downtown? Will they bring jobs here or a tv broadcasting station to the Discovery district? Maybe build a new building? I could only wish.


Technically, AT&T is not buying out Discovery.

It's messy, but AT&T's going to spin off WarnerMedia into a brand new (separate) company and Discovery will merge with that brand new company. AT&T will just have a majority stake in the new company.

WarnerMedia's operations are mostly in Atlanta (legacy Turner Broadcasting), NYC and LA (legacy TimeWarner). So this should have minimal effect on Dallas.

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Re: Corporate Relocations/Expansions

Postby Tucy » 19 May 2021 13:48

Addison wrote:
dd_dweller wrote:With ATT buying out Discovery, does this do anything for its headquarters here in downtown? Will they bring jobs here or a tv broadcasting station to the Discovery district? Maybe build a new building? I could only wish.


Technically, AT&T is not buying out Discovery.

It's messy, but AT&T's going to spin off WarnerMedia into a brand new (separate) company and Discovery will merge with that brand new company. AT&T will just have a majority stake in the new company.

WarnerMedia's operations are mostly in Atlanta (legacy Turner Broadcasting), NYC and LA (legacy TimeWarner). So this should have minimal effect on Dallas.


Not quite right. AT&T will have no interest in the new company. AT&T's shareholders will, at the outset, have a majority of the shares of the new company.

Agreed, it should have minimal effect on Dallas. The most notable effect might be that AT&T will drop a few slots in the Fortune 500.

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Re: Corporate Relocations/Expansions

Postby Addison » 01 Jun 2021 18:59

Revolut to make Dallas its hub for US expansion with 300 hires

https://www.altfi.com/article/7950_revo ... -300-hires

After a tumultuous 2020 put many European fintechs’ plans for US expansion on ice, Revolut is preparing a huge marketing push that it hopes will help it reach 1m American customers by early next year.

To drive the growth Revolut is hiring at least 300 staff in Dallas, Texas, which will see the city overtake New York and San Francisco as Revolut’s largest US hub.

The recruitment drive was revealed by Revolut’s global head of sales Matthew Acton Davis last month in an interview with the Dallas Morning News.

“We are investing heavily in growth in the US over the course of this year,” Davis said. “Overall, it's one of the largest bets that we have as an organization.”

The Dallas hub will primarily focus on Revolut’s business bank account, which the fintech believes can have a big impact on the US market.

Meanwhile, Ron Oliveira, CEO of Revolut USA, told The Times that his goal is to take the US from 200,000 Revolut customers to over 1m by early 2022.

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Re: Corporate Relocations/Expansions

Postby Tucy » 03 Jun 2021 12:28

Fortune 500 Scorecard for 2021:

Houston: 23 (up from 22 on the 2020 list). 21 are in the city of Houston. 1 in The Woodlands. 1 in Katy.

DFW: 22 (down from 24 on the 2020 list, and I think 23 on the 2019 list) 9 are in the city of Dallas. 8 are in Irving. 1 in Plano. 1 in Ft Worth. 1 in Arlington

Austin: 2 -- 1 in the city of Austin. 1 in Round Rock.

San Antonio: 2 -- Both in the city of San Antonio

It's surprising that DFW is barely treading water on the number of Fortune 500 companies, given all of the relocations that have occurred in the last several years.

New York: 53
California: 53
Texas: 49
Illinois: 38
Ohio: 25
Pennsylvania: 24
Virginia: 22
Florida: 20
Georgia: 18
Minnesota: 18
Massachusetts: 18
New Jersey: 16
Connecticut: 14
North Carolina: 13
Missouri: 10
Colorado: 10
Washington: 8
Indiana: 7
Maryland: 6
Arkansas: 4
Oklahoma: 3
Louisiana: 2
New Mexico: 0

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Re: Corporate Relocations/Expansions

Postby Addison » 03 Jun 2021 12:59

Tucy wrote:Fortune 500 Scorecard for 2021:

Houston: 23 (up from 22 on the 2020 list). 21 are in the city of Houston. 1 in The Woodlands. 1 in Katy.
DFW: 22 (down from 24 on the 2020 list, and I think 23 on the 2019 list) 9 are in the city of Dallas. 8 are in Irving. 1 in Plano. 1 in Ft Worth. 1 in Arlington
Austin: 2 -- 1 in the city of Austin. 1 in Round Rock.
San Antonio: 2 -- Both in the city of San Antonio

It's surprising that DFW is barely treading water on the number of Fortune 500 companies, given all of the relocations that have occurred in the last several years.


For context, it's not as though those 2 companies left DFW.

Dean Foods and JC Penney went bankrupt, and were ultimately acquired by out-of-state companies. GameStop has been treading water too, so that might be another loss soon.

Part of the issue is that so many large companies based in Dallas are brick & mortar retailers, and this industry will be poised for significant contraction and consolidation in the coming years (for example, both Michael's and At Home were just bought out).

As far as Houston, the vast majority of those companies are in Oil & Gas. Long-term, that's not exactly something to hang one's hat on.

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Re: Corporate Relocations/Expansions

Postby Tucy » 03 Jun 2021 13:06

Here is our list of Fortune 500 companies:
McKesson
ExxonMobil
AT&T
Energy Transfer
CBRE Group (new to DFW since 2020 list)
DR Horton
Kimberly-Clark
Tenet Healthcare
American Airlines Group
Fluor
Texas Instruments
Core-Mark Holdings
Jacobs Engineering Group
Charles Schwab (new to DFW since 2020 list)
Vistra
Holly Frontier
Southwest Airlines
Builders FirstSource
Yum China Holdings
Pioneer Natural Resources
Celanese
Commercial Metals

in 2020 list and not in 2021 list:
EnLink Midstream (dropped out of 500; now at #630)
GameStop (dropped out of 500; now at #521)
Dean Foods (went bankrupt - out of business)
JC Penney (went bankrupt - no longer a public company)
Last edited by Tucy on 03 Jun 2021 13:45, edited 2 times in total.

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Re: Corporate Relocations/Expansions

Postby Addison » 03 Jun 2021 13:10

Should also add, it's pretty rare for Fortune 500 companies to relocate in general. Things especially slowed down in the run up to the COVID recession, and now I'm sure they're all too busy questioning what the future of their offices will look like.

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Re: Corporate Relocations/Expansions

Postby Tucy » 03 Jun 2021 13:18

Addison wrote:As far as Houston, the vast majority of those companies are in Oil & Gas. Long-term, that's not exactly something to hang one's hat on.


I'd recommend a closer look at the list of Houston companies. It can no longer be said that "the vast majority" are oil & gas.

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Re: Corporate Relocations/Expansions

Postby Tucy » 03 Jun 2021 13:36

Addison wrote:
Part of the issue is that so many large companies based in Dallas are brick & mortar retailers, and this industry will be poised for significant contraction and consolidation in the coming years (for example, both Michael's and At Home were just bought out).


I think you are exaggerating the importance of brick and mortar retailers among the large companies based in Dallas. Yes, the decline in our Fortune 500 numbers this year can be partly (1/2) blamed on the loss of JCPenney and GameStop from the list. But take a look at the remaining list. I don't see any brick & mortar retailers left in the 500.

In the 500-1000 range, we have Michaels, GameStop, Sally Beauty, and Rent-a-Center. So out of 45 companies in the Fortune 1000, we have 4 brick & mortar retailers.
Last edited by Tucy on 03 Jun 2021 13:40, edited 1 time in total.

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Re: Corporate Relocations/Expansions

Postby tamtagon » 03 Jun 2021 13:40

When did Yum china holdings separate from Yum Brands?

Neiman Marcus, Brinker, Radio Shaq, Pier One and Blockbuster also used to be on this list, though it's been a while.

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Re: Corporate Relocations/Expansions

Postby Tucy » 03 Jun 2021 13:49

tamtagon wrote:When did Yum china holdings separate from Yum Brands?


2016

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Re: Corporate Relocations/Expansions

Postby Tucy » 03 Jun 2021 13:54

tamtagon wrote:Neiman Marcus, Brinker, Radio Shaq, Pier One and Blockbuster also used to be on this list, though it's been a while.


Yes, yes they were; at least the Fortune 1000 list. Not sure how many of them were ever in the 500.

Nieman Marcus is, I believe, not a publicly traded company.
Brinker is on the Fortune 1000 list (#736), not on the 500 (but not the type of bricks & mortar retail that has an uncertain future).
Radio Shack, Pier One, and Blockbuster are, of course, all out of business.

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Re: Corporate Relocations/Expansions

Postby tamtagon » 03 Jun 2021 13:59

^there's probably others too, but I don't remember any off the top of my head.

Isn't there another 500 lister moving to west lake? With a campus like Schwab?

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Re: Corporate Relocations/Expansions

Postby Tucy » 03 Jun 2021 14:38

tamtagon wrote:
Isn't there another 500 lister moving to west lake? With a campus like Schwab?


You're probably thinking of Fidelity's recent announcement that they are adding positions in Westlake, but I don't think there's any hint of a headquarters move.

But speaking of Westlake, next year's list of DFW Fortune 500 companies is already shorter by one... Core-Mark was purchased recently.

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Re: Corporate Relocations/Expansions

Postby Tucy » 03 Jun 2021 14:57

tamtagon wrote:^there's probably others too, but I don't remember any off the top of my head.


I can't think of any others that might have been on the Fortune 500. But, yes, I'm sure there are other DFW retail names that have gone out of business. A few that come to mind:

Tandy (of course that became Radio Shack; but there were also Tandy Leather/Craft stores at one time)
Harolds
Sound Warehouse

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Re: Corporate Relocations/Expansions

Postby Addison » 03 Jun 2021 16:42

Tucy wrote:
Addison wrote:
Part of the issue is that so many large companies based in Dallas are brick & mortar retailers, and this industry will be poised for significant contraction and consolidation in the coming years (for example, both Michael's and At Home were just bought out).


I think you are exaggerating the importance of brick and mortar retailers among the large companies based in Dallas. Yes, the decline in our Fortune 500 numbers this year can be partly (1/2) blamed on the loss of JCPenney and GameStop from the list. But take a look at the remaining list. I don't see any brick & mortar retailers left in the 500.

In the 500-1000 range, we have Michaels, GameStop, Sally Beauty, and Rent-a-Center. So out of 45 companies in the Fortune 1000, we have 4 brick & mortar retailers.


Sorry if I wasn't clear.

What I meant was Dallas is liable to see some flux in its Fortune 500 companiy list (and even its Fortune 1000 list) because it has or recently had a greater share (possibly by a significant margin?) of publicly traded brick & mortar retailers who make up the lists when compared to the other Texas metros.

I understand that brick & mortar retail companies are still an overall small part of DFW's economy. But that wasn't my point.

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Re: Corporate Relocations/Expansions

Postby Addison » 09 Jun 2021 15:20

Coury Hospitality moves its corporate HQ to North Texas

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

Chalk up another corporate headquarters relocation win for the city of Irving, with the move-in of Coury Hospitality.

The relocation has already occurred, according to the company’s website listing an address of 400 East Las Colinas Boulevard, Suite 660, and according to D Magazine, which first reported the move Tuesday afternoon.

Coury Hospitality did not immediately reply to an emailed message from the Dallas Business Journal Tuesday evening.

Coury Hospitality specializes in the design, development and operations of boutique and luxury hotels, restaurants and event spaces, and is the parent company behind Grapevine’s new food hall, Harvest Hall, and nearby Hotel Vin.

The relocation to Irving’s Las Colinas district is a consolidation of Coury’s operations from Kansas City and Tulsa, according to D Magazine’s online report...

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Re: Corporate Relocations/Expansions

Postby undefinedprocess » 10 Jun 2021 10:41

Integrity Marketing Group relocates its HQ from Cypress Waters to Fountain Place in downtown, leasing 100,000 sqft. and planning on bringing 300 to 400 employees with them.

https://www.dallasnews.com/business/real-estate/2021/06/10/major-employer-trades-office-in-cypress-waters-for-a-new-hq-in-downtown-dallas/