- Dallas, Austin, and Houston ranked among the top five fastest-growing cities for corporate headquarters between 2018 and 2024.
- The San Francisco Bay Area, Los Angeles, and San Diego were among the top five markets with the most headquarters losses during the same period.
- Dallas logged 100 new HQ announcements, followed by Austin (81), Nashville (35), Phoenix and Houston (31 each).
- Texas’ business-friendly policies, lower costs, and robust talent pool continue to attract companies from traditional economic centers.
Texas Rising
The US corporate landscape is shifting south, with Texas emerging as the clear leader in a wave of headquarters relocations, reports GlobeSt. According to CBRE data analyzed by Visual Capitalist, Dallas, Austin, and Houston collectively outpaced nearly every other US metro in new headquarters between 2018 and 2024.
Dallas alone saw 100 HQ announcements—more than any other US city—while Austin added 81. Houston tied with Phoenix at 31, rounding out the top five.
At the same time, long-standing business hubs like the Bay Area (–156 HQs), Los Angeles (–106), New York City (–27), and Chicago (–15) posted significant losses, pointing to an accelerating migration of companies toward lower-cost, more business-friendly environments.
Recent Moves Accelerate Trend
2024 marked a major turning point, with 96 corporate HQ announcements—up from just 18 the year before. Texas accounted for over 25% of those moves, cementing its lead.
Notable corporate shifts include Chevron moving to Houston, Oracle and Tesla relocating to Austin, and Nasdaq announcing a regional headquarters in Dallas. Goldman Sachs is also ramping up its Dallas presence, targeting over 5K employees at its upcoming office complex.
Meanwhile, SpaceX moved its incorporation from Delaware to Texas and is expanding its Bastrop operations with over $280M in investment. Schneider Electric is adding 300 new jobs through its El Paso expansion, and Yum! Brands is consolidating KFC operations in Plano.
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The Texas Advantage
Texas’ appeal goes beyond tax savings. Companies cite lower operating costs, access to affordable and skilled labor, pro-growth policies, and logistical advantages tied to its central location.
The Dallas-Fort Worth region, now home to public companies valued at a combined $1.5T, is also set to host the forthcoming Texas Stock Exchange—aimed at challenging traditional listing venues like Wall Street.
Austin continues to stand out for tech-driven relocations thanks to its vibrant startup ecosystem, no state income tax, and high quality of life.
What It Means
This reshuffling of headquarters highlights a broader national trend: a shift away from legacy business cities toward emerging markets with more favorable business climates.
While New York and California still play critical roles in the national economy, the data signals that the corporate map of the US is being redrawn—with Texas firmly at its center.
Expect further momentum as companies reevaluate their footprints in an evolving post-pandemic economy increasingly shaped by flexibility, cost efficiency, and talent access.
