Corporate Relocations/Expansions

[DPatel304]

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.

[tamtagon]

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.

[Ace]

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.

[Tnexster]

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.

[maconahey]

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/

[Tivo_Kenevil]

From SF to Denton. What a shift.

[Kelley USA]

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.

[Tnexster]

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.

[Tnexster]

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.

[Tnexster]

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.