California Big Tech and Relocations
As the state of California grows increasingly crowded with tech giants, the wealthy are leaving for other states like Texas and Arizona. Major tech companies like Oracle, Palantir, and Hewlett-Packard Enterprise have announced relocation plans to Texas by 2020. Among the most notable names leaving the state are Elon Musk, Larry Ellison, Drew Houston, Joe Lonsdale, and Drew Houston. As the world’s richest person, Elon is currently considering moving his headquarters to Silicon Valley.
San Francisco tech and relocations
With the skyrocketing rents in the Bay Area, many big-tech companies have decided to relocate or close their doors. Some have even said they will allow their employees to work from home permanently. But the relocation of company headquarters, big-name VC investors, and company founders points to the diaspora of the tech industry as a whole. If you are a tech company looking to relocate, here are some things to consider.
Hewlett Packard
Hewlett Packard Enterprise has recently announced it is moving its headquarters from San Jose, California to Houston, Texas. The company has deep roots in the Bayou City. The company’s current headquarters was the corporate headquarters for Compaq, the world’s largest PC maker until it was purchased by Hewlett-Packard Co. in 2001. After the split, HPE was formed as a separate entity, while HP Inc. continued to manufacture consumer products.
Oracle
A big part of the move toward Austin, Texas, is due to a number of factors, including the COVID-19 coronavirus outbreak. In an effort to attract a younger workforce, Oracle opened a campus with on-site apartment buildings. In the coming years, the company plans to house 10,000 employees on its new campus. In addition, the company announced that its largest annual conference, OpenWorld, would move to Las Vegas.
8VC
With the onset of the coronavirus pandemic, entrepreneurs have been migrating from the Golden State to remote climes. The news about the pandemic has led several tech companies to move their headquarters, and some even announced they would allow employees to work from home permanently. But while relocations in California are often not as dramatic as they are in Silicon Valley or San Francisco, it does point to a growing corporate diaspora in the tech industry. Relocations of companies, founders, and big VC investors are often tied to the pandemic.
DZS Inc.
DZS Inc. is a company that is incorporated in the state of Delaware. Its primary business is the manufacture of telephone and telegraph apparatus. Its fiscal year ends on December 31st, and its SEC registration includes S-1, Prospectus, Current Reports, 8-K, and 10K filings. If you are interested in learning more about DZS Inc., read on to learn more about the company and its future prospects.
Plano, Texas
Corporate buzz surrounding the North Texas metro area is focused on suburban communities such as Plano, Allen, McKinney, Prosper, and Frisco. In addition to affordable housing, businesses point to excellent schools and a diverse population. Companies can find the right space for their businesses. For relocations, North Texas is well-suited. Several companies have relocated to Plano, including Toyota Motor North America, which recently announced 3,000 new jobs.
Austin, San Antonio
The Texas capital has attracted a large number of tech companies, including Apple, Samsung, Oracle, and Tesla. With the low cost of living and sunshine, Austin is a prime location to attract new businesses and talent. As a result, Austin has been nicknamed Silicon Hills by the tech community. Despite the lack of incentives, many tech companies are looking for cheaper locations to set up shop. However, despite these benefits, there are still some challenges that Austin must face in order to attract new companies to the area.
Los Angeles
Those who cover the tech industry know that the trend for California company relocations isn’t positive. The first half of 2021 saw 74 relocations, more than all of 2018 and 2020. That means that a month’s worth of reported relocations is double the average for the whole state. Although reported relocations were slow during the pandemic, they’ve recently been increasing again as the economy has gotten back on its feet. This isn’t a good sign for California’s economy.