Dallas-Fort Worth gained 100 corporate relocations between 2018 and 2024, the highest of any metro area in the country.
In just the past five years, DFW has seen the value of its public companies double to a combined value of $1.5 trillion. The surge has been helped by the large number of major businesses moving to North Texas, especially from places like California.
“Owing to its pro-business policies and lower cost of living, Texas is attracting scores of corporate headquarters, particularly from California. As a result, states are losing billions in tax revenues as the corporate landscape shifts south,” read a recent report from Visual Capitalist.
Nationally, Texas had a strong showing, boasting three of the top five markets that gained the most headquarters during the period.
- Dallas: 100
- Austin: 81
- Nashville: 35
- Phoenix: 31
- Houston: 31
The report highlighted the state’s lack of corporate and personal income tax and its less restrictive regulations.
On the other end of the spectrum, California had three of the top five markets that lost headquarters between 2018 and 2024.
- San Francisco Bay Area: -156
- Greater Los Angeles: -106
- New York City: -27
- Chicago: -15
- San Diego: -14
In 2024, California saw 17 headquarters exit the state. Notably, 12 of those, or over 70%, moved to Texas, like Resources Connection, Inc., which relocated to Dallas after spending three decades in Irvine, California.
And the trend appears to be continuing.
In April, The Dallas Express reported that Germany-based artificial intelligence company Cognigy moved its U.S. headquarters from San Francisco to Plano. The company cited the city’s rapidly growing tech scene and deep talent pool as some of the reasons it chose DFW as its new home.