AUSTIN (KXAN) — In the past 11 years, more companies have relocated their headquarters to Austin than anywhere else in Texas, according to the Texas business network YTexas.
Fifty-six took the plunge in that time frame. They’re often tech companies, with Oracle’s move from California last year coming as the headliner.
“The majority of companies and people that are moving to Texas, this is no surprise to anyone, they are coming from California,” said YTexas CEO Ed Curtis. “Austin and the technology scene, the culture here, is what really attracts them. It’s probably the closest thing they have to what they had in California.”
Since 2010, 94 company headquarters moved from California to Texas. Twenty-eight of those companies settled in Austin.
Sometimes those workers come with the company, but often they’re not required to move in order to keep their jobs. Curtis said most companies that move still keep a presence in the state they’re coming from.
“If you were to try to recruit someone out of another city and say, ‘Look, I have a job opening and it’s in Austin Texas, do you think you might want to come?’ chances are they’re very interested in coming,” Curtis said.
It’s also a lot more affordable to live here.
CNN’s cost of living calculator shows someone making $100,000 in San Francisco needs to make roughly half that, $52,100, to have a comparable lifestyle in Austin.
Relocations aren’t slowing down in the pandemic either. On the contrary, they’re picking up.
Relocations in 2021 are already 45% ahead of where they were in 2020, and the state is on pace to have the most relocations ever this year.
“If you look at the history of Texas, no matter where we stood — in the business community — it’s always been a pro-business state, and I think it will remain that way,” Curtis said. “I think it’s a bright future for Texas.”