A new report says Dallas is the top city in the United States to relocate corporate headquarters, though Texas as a whole has seen its ranking slip.
The magazine Site Selection says Dallas was the most common answer when site selectors were asked: “If you were running a company and needed to find a new home for the corporate headquarters, list three cities you would place on your short list.”
Charlotte landed in the No. 2 spot in the country, followed by Atlanta in third.
Site selectors, or site selection consultants, help companies identify the best location to house their business. For this group of professionals, Dallas was the most popular location listed.
Despite Dallas’ impressive showing, the Lone Star State slipped in ranking in the latest report. In 2023, Texas held the top spot for the Best Business Climate. In 2024, however, the state fell to a fourth-place tie with Tennessee.
“There’s more competition now than we had yesterday and last year, and the year before that,” Starner said, referring to the state’s lower ranking, per Dallas Business Journal.
“The message to anyone working in economic development in Texas right now is lace up your bootstraps because it’s only going to get more competitive out there.”
Georgia secured the top spot among U.S. states, while North Carolina landed in second place, followed by South Carolina.
According to Starner, tax policy and cost of living were the primary factors site selectors considered when favoring locations. Companies also look for strong workforce training programs, favorable local business incentives, and a high quality of life. For these reasons, Southern states tend to do well in these rankings.
Dallas-Fort Worth continues to attract companies relocating to a more favorable business environment with a robust economy, no corporate tax, and a vast pool of skilled residents. In November, The Dallas Express reported that Resources Connection, Inc. relocated to Dallas after three decades spent in Irvine, California, just outside Los Angeles.
Resources Connection joins hundreds of other companies that have relocated headquarters or opened offices in the metroplex and other locations in Texas. In September, Elon Musk officially moved the headquarters of social media platform X to Bastrop, south of Austin.
In particular, Wall Street continues to expand operations in Texas, with trading on the Texas Stock Exchange (TXSE) in Dallas set to commence as early as this year. In 2021, Charles Schwab moved its HQ from California to North Texas. That same year, Goldman Sachs announced it was preparing to open a massive new office campus in Dallas, slated to be the largest outside of Manhattan.