From office guys “carrying the lunch bags of industrial guys” in Austin, where $1B Tesla’s Gigafactory is just the most prominent example of the city’s industrial boom, to Dallas-Fort Worth’s ascent to become the national “headquarters of headquarters,” Texas is having a moment in the sun.
Over the past two years, since the onset of the coronavirus pandemic, the state has gained nearly 100 corporate headquarters, according to Ed Curtis, CEO of YTexas, a business network for companies expanding in or moving to Texas. The organization, which held its annual State of Real Estate event late last month, predicts more sunny days ahead into 2022 as companies renew focus on the Lone Star State amid rapid growth in its metro areas, especially in the suburbs.
Leading the pack of Texas cities garnering relocations is the Dallas–Fort Worth metroplex, which is rapidly tacking on more Fortune 500 company headquarters, and is expected to soon become one of the largest metros in the U.S.
Texas has long promoted itself as a business-friendly state. Amid major companies relocating to Texas, like Tesla and Hewlett Packard Enterprise Co., real estate is seeing a boost.
“By 2030, they were forecasting that the DFW metroplex would be the third-largest metroplex in the country, behind New York and LA,” said panelist Russ Anderson, president of Briggs Freeman Sotheby’s International Realty, citing Freakonomics.