Texas Top-Ranked State for Firm Relocations
Tuesday, February 05, 2019
Relocations of firms and corporate offices generate interest among policymakers and the public who view them as generators of jobs and positive economic spillovers. Apple’s plans for a $1 billion corporate campus in Austin and the intense national competition to land Amazon’s HQ2 are striking examples of the importance placed on landing the big prize. Texas, with its hospitable business climate, is a leading contender for firms looking to cross state borders.1 Anecdotal reports have long highlighted the state’s ability to attract businesses from high-tax and heavyregulation places, such as California and New York, though exact counts of businesses that relocate to Texas and their contribution to overall job growth are hard to come by.
Analysis of National Establishment Time Series (NETS) data confirms the popular view that Texas is the top destination for firm relocations.Counting all moves of businesses in or out of Texas from 2000 to 2013, more than 25,000 establishments came to Texas from other states, bringing more than 300,000 jobs.