Factbox: To the Lone Star State: Corporate migration to Texas takes off

Aecom

18/03/2025 14:50

March 18 (Reuters) - An increasing number of companies are relocating their headquarters to Texas, drawn by lower taxes, business-friendly regulations and a growing talent pool.

The moves are expected to reshape the state's economic profile and strengthen its national influence. Texas is set for further gains with the planned launch of the Texas Stock Exchange, a new challenger to Wall Street aiming to attract companies looking for alternative listing venues.

Meanwhile, Intercontinental Exchange ICE.N, the parent of the New York Stock Exchange, and Nasdaq NDAQ.O have also announced plans in recent months to expand their presence in the state.

Here is an overview of actions by major companies in recent years:

Company
Year
Details
Yum! Brands YUM.N
2025
The company said it will relocate KFC U.S. corporate office employees currently in Louisville, Kentucky, to the KFC and Pizza Hut Global headquarters in Plano, Texas.
X
2024
Billionaire Elon Musk said he is moving the social media platform's headquarters to Texas from California.
SpaceX
2024
Musk also announced change in the headquarters of his rocket company to Texas from California. He had transferred SpaceX's incorporation from Delaware to Texas in February 2024.
Chevron CVX.N
2024
The oil major announced plans to relocate the company's headquarters from San Ramon, California to Houston, Texas. The company has been bitterly contesting state regulations on its oil producing and refining operations in California.
Frontier Communications FYBR.O
2023
The telecommunications company announced plans to relocate its headquarters from Norwalk, Connecticut to Dallas, Texas.
Fisher Investments
2023
The investment manager moved its headquarters from Camas, Washington to Plano, Texas.
Caterpillar CAT.N
2022
The heavy machinery manufacturer announced its decision to relocate its global headquarters from Deerfield, Illinois to its existing office in Irving, Texas.
Tesla TSLA.O
2021
CEO Elon Musk moved the EV maker's headquarters from California to Texas.
AECOM ACM.N
2021
The infrastructure consulting firm, moved its global headquarters from Los Angeles, California to Dallas, Texas.
Charles Schwab SCHW.N
2021
The brokerage moved its headquarters from San Francisco to its new campus in Westlake, Texas.
Oracle Corp ORCL.N
2020
The business software maker announced plans to move its corporate headquarters to Austin, Texas from Redwood City, California. Chairman Larry Ellison said in April last year that Oracle was moving its world headquarters to Nashville, Tennessee.
Hewlett Packard Enterprise HPE.N
2020
The tech company moved its headquarters from Silicon Valley to Texas.

 (Compiled by Manya Saini, Mrinalika Roy, Aamir Sohail and Shivansh Tiwary in Bengaluru; Editing by Shilpi Majumdar)

 ((Manya.Saini@thomsonreuters.com; X: manya__saini;))