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 Franchisee Revenue Streams

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     Business Moving Relocation Contract Fee 

     Real Estate Commission or Residual Fee

  Air or Surface Transport Fee 

   Apartment Rental Broker Fee

     New Building Construction Fee   

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Note: Some of these events may not occur being at the discretion of the Primary Client.

 

 

      

​Top Destinations for Corporate Relocations

Eght metros  are the biggest draws for company headquarters. Here’s where, how and why.

As companies navigate constantly evolving economic environments and seek new opportunities, the leading destinations for corporate relocations are becoming increasingly evident.

Factors such as talent availability, cost considerations and quality of life are driving businesses to favor new locations that offer a competitive edge. Employee-related aspects, including rising wages and high turnover due to intense talent competition, also heavily influence relocation decisions. Additionally, shifting migration patterns and tight labor markets are pushing companies to explore new, previously overlooked markets.

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Amidst economic changes, plus return of manufacturing and supply chains back to America companies are prioritizing cost reduction by hiring in lower-cost markets without compromising talent quality,"  The  political landscape, regulatory environment and climate considerations when determining their location strategy are a large part of relocation decisions.

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Below, we've identified the states and major metros that are becoming prime destinations for corporate headquarters.

 

1. Texas: Dallas & Austin

 

Last year, Frontier Communications relocated its headquarters from Connecticut to 1919 McKinney Ave. in Dallas.  

Over the past few years, Texas has emerged as a top destination for both businesses and individuals due to several key advantages. The state does not impose personal or business income taxes and its franchise tax rate is significantly lower than in other states. Additionally, Texas offers affordable living and working conditions, with lower housing and corporate rent costs.

This influx of companies and talent is largely driven by relocations from high-tax states such as California, Massachusetts, New York, Connecticut and Washington, as well as international locations such as South Korea.

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Most recently, energy giant Chevron said it will move its headquarters from San Ramon, Calif., to Houston, becoming the second-largest public company based in the metro, second only to Exxon Mobil Corp. But two other large metros in the state seem to be the preferred destinations for corporate relocations.

"In Texas, Dallas and Austin were the primary winners of corporate relocations," said Marc Miller, research director at CBRE.

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The U.S. Census Bureau reported that Dallas-Fort Worth saw the highest metropolitan population growth in the country in 2023, adding more than 150,000 residents for a total population of 8.1 million. This boom attracted a diverse range of businesses from many sectors, including technology, aerospace, telecommunications, real estate and manufacturing.

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Kelly-Moore Paints moved its headquarters from Northern California to Irving, Texas, last year, following the relocation of its manufacturing operations to Hurst, Texas, in 2017. Similarly, Thermomix revealed plans to move its corporate headquarters from Thousand Oaks, Calif., to Dallas by the end of the year, creating 30 to 40 positions at the new head office and onboarding hundreds of new independent consultants. Another example is Frontier Communications, a $6 billion fiber provider, which relocated its headquarters from Norwalk, Conn., to Dallas last fall.

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Austin has also become a magnet for technology companies, after significant moves by Tesla and Facebook. Due to its thriving tech talent pool, the metro is known as Silicon Hills, with the city ranking seventh in population growth, adding 50,000 new residents in 2023. In July, Elon Musk announced plans to move the headquarters of SpaceX and social media platform X from San Francisco to Austin.

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CharterUP, an online charter bus-booking platform, moved its headquarters from Atlanta to Austin last year. Further cementing Austin's status as a tech hub, major technology employer Indeed recently moved into its new global co-headquarters in a 36-story high-rise, occupying 307,000 square feet.

"The headquarters relocations are happening in these areas because people want to be in Texas," remarked Brooke Armstrong, president of CBRE Advisory Services for Texas, Oklahoma, Arkansas and Louisiana. "We are a very diverse state culturally, with renowned food and entertainment offerings, outdoor activities, professional sports—and the list goes on."

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2. Florida: Miami & Orlando

Meanwhile, Florida has evolved from a vacation hotspot to a thriving economic hub, boasting the second-lowest unemployment rate among the 10 largest states in the country, according to a recent press release from the Florida Council of 100, a group of more than 150 business leaders aiming to foster economic growth in the state. Initiatives such as Beyond Sunshine were rolled out to accelerate this growth by driving investments into high-value sectors across the Sunshine State’s six regional economies.

Key sectors poised for growth include finance & insurance, business services, IT & tech, cleantech, biopharma & medtech, as well as aerospace & defense. These investments are expected to add 200,000 new high-paying jobs and potentially create up to 400,000 additional jobs through economic stimulation by 2030.

      

    

      

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