Dallas Fort Worth Urban Forum

Corporate Relocations/Expansions

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utgf
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Re: Corporate Relocations/Expansions

Postby utgf » 26 Nov 2019 19:59

Tnexster wrote:Charles Schwab’s move to DFW shakes up leaderboard in region already undergoing changes

One would think, after losing Toyota, McKesson and now Schwab that somebody would start scratching their head and at least wonder why this keeps happening.


Nothing to wonder about or scratch their head about. Reasons are clearly known and as long as California economy is thriving with homegrown companies, why would they change anything. The issues with cost of living and homelessness would be even worse without some of these jobs leaving or growing their employees elsewhere. As it is even with the moving of Schwab headquarters, they are still not reducing their workforce in SF. And there is no appetite for further sprawl, especially in Bay Area, even though it continues to sprawl to the south and east. And even the merger with TD Ameritrade came about as new homegrown companies such as RobinHood app are shaking up the market.

https://www.sfchronicle.com/business/article/Charles-Schwab-to-lose-SF-headquarters-in-26-14860683.php

San Francisco’s economy is still booming, despite corporate departures, with unemployment at 2% and near a record low. But the city has lost finance sector jobs as the tech economy has surged. The Bureau of Labor Statistics says the number of finance jobs fell from 45,716 in 2008 to 41,882 last year, as tech jobs more than quadrupled from 22,108 to 97,486 over that time frame.


In late 2016, Schwab renewed its 417,266-square-foot San Francisco headquarters lease at 211 Main St. near the Embarcadero for 10 years. Schwab rented out 315,000 square feet at nearby 215 Fremont St. to fitness wearables company Fitbit as Schwab downsized in the city. Google has since leased more of the building and plans to buy Fitbit.


California’s unemployment rate fell to 3.9% in October, a record low since at least the 1970s, according to state data.

willyk
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Re: Corporate Relocations/Expansions

Postby willyk » 26 Nov 2019 22:10

jetnd87 wrote:Interesting that they're moving from urban-style HQ to Westlake. You think they'd save enough dollars by going from SF and could afford / want to move into Dallas urban core. I guess they already had a facility out in Westlake though...


Read “proximity to DFW Airport:”

“Both companies have a sizable presence in the Dallas-Fort Worth area,” the release said. “This will allow the combined firm to take advantage of the central location of the new Schwab campus to serve as the hub of a network of Schwab branches and operations centers that span the entire U.S., and beyond.”

Tnexster
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Re: Corporate Relocations/Expansions

Postby Tnexster » 01 Dec 2019 13:34

Schwab is the latest company leaving California for Texas and it won’t be the last, expert says

https://www.dallasnews.com/business/201 ... pert-says/

The Dallas Morning News talked to corporate relocation site selection expert John Boyd about Schwab’s decision to make its campus under construction in Westlake the new headquarters, and why even more California companies are likely to pack up and move to the Lone Star State in the future. One study estimates 13,000 companies fled the Golden State in a nine-year period from 2008 to 2016.

It’s been rumored for a long time that Schwab may be looking to get out of California. Why would the company choose to have this move coincide with a major acquisition like TD Ameritrade?


This is another motivating factor for Schwab to reduce operating costs. Operating costs in Dallas are significantly less versus San Francisco. The tax and regulatory climate in Dallas is much more business friendly versus San Francisco. This also puts a microscope on some of the qualitative issues facing the Bay Area. For example, out-of-control housing costs.

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tamtagon
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Re: Corporate Relocations/Expansions

Postby tamtagon » 01 Dec 2019 18:06

North Texas:Bay Area::Plano:Dallas

did i type that right?

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quixomniac
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Re: Corporate Relocations/Expansions

Postby quixomniac » 01 Dec 2019 20:04

I dont mean to rain down on anyone's parade here, it definitely is good news.
But are there any numbers on the expected jobs?
It all looks like blatant public political positioning.
They moved their HQ for tax purposes while majority of the jobs are staying in SF.
I mean we'll take what we can get.

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PonyUp13
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Re: Corporate Relocations/Expansions

Postby PonyUp13 » 02 Dec 2019 02:31

quixomniac wrote:I dont mean to rain down on anyone's parade here, it definitely is good news.
But are there any numbers on the expected jobs?
It all looks like blatant public political positioning.
They moved their HQ for tax purposes while majority of the jobs are staying in SF.
I mean we'll take what we can get.


I had understood they were already slowly moving their HQ to the Metroplex but hadn’t officially said it, so I didn’t see this as much as an incremental job thing as formalizing what many of us expected. I think they’re keeping a number of jobs in SF in the same way that relos tend to list the jobs they’ll still be supporting back in the “losing” market.

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Tucy
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Re: Corporate Relocations/Expansions

Postby Tucy » 02 Dec 2019 08:49

/\ I think that's right. I think the bulk of the job shift out of San Francisco has already occurred and has been underway for several years.

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Cord1936
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Re: Corporate Relocations/Expansions

Postby Cord1936 » 03 Dec 2019 11:38

Schwab CFO: Finances were not ‘big driver’ in decision to move HQ to North Texas
By Brian Womack – Staff Writer, Dallas Business Journal, Dec 2, 2019, 12:59pm EST

“I wouldn’t think of the eventual headquarters move to Texas as being a big driver from a financial standpoint,” Chief Financial Officer Peter Crawford said. “It’s really more a reflection of the reality today, which is that we have a large campus in the Westlake area. TD Ameritrade has a large campus in the Southlake area. We have opportunity for expansion there.”

He said the company will continue to have a large presence in San Francisco, consistent with where it’s at today.

Yet more folks should be coming to the North Texas locale in the future.

As we look over the next four or five-plus years, that is a location where we will be likely adding a significant number and certainly ... a more significant percentage of our staff,” Crawford said.

Article: https://www.bizjournals.com/dallas/news/2019/12/02/charles-schwab-hq-move.html?iana=hpmvp_dal_news_headline

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muncien
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Re: Corporate Relocations/Expansions

Postby muncien » 03 Dec 2019 12:45

I'm not sure I could trust my money to anybody who runs a significant amount of their operations out of a massively overpriced region... Kinda like the 'pastor' who wears bling and lives in a 6m sqft mansion while asking for donations. smh
"He doesn't know how to use the three seashells..."

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utgf
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Re: Corporate Relocations/Expansions

Postby utgf » 04 Dec 2019 23:55

Having grown up in Dallas and now being in SF and still following this forum, this is almost like reaction of Blockbuster's move to Dallas unaware about the disruption about to happen with NetFlix.

https://www.google.com/amp/s/www.forbes.com/sites/donnafuscaldo/2019/12/04/mobile-trading-app-robinhood-now-has-more-than-10-million-accounts/amp/

https://www.irishtimes.com/business/technology/stripe-joins-fintech-focus-on-new-york-instead-of-san-francisco-1.4103308?mode=amp

There is a reason why Schwab would keep a large presence in bay area. And there is a reason why when Toyota moved its headquarters to Plano, it kept its design center in LA and at the same time invested one billion dollars in a new AI Robotics center in the bay area.

Tnexster
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Re: Corporate Relocations/Expansions

Postby Tnexster » 09 Dec 2019 08:46

Here’s why Charles Schwab and other finance companies keep coming to North Texas

https://www.dallasnews.com/business/com ... rth-texas/

That means fewer workers and offices — except in Westlake, where Schwab is building a major campus for 6,000 employees and has room to grow. Next door, in Southlake, Ameritrade has a sparkling regional office that opened in 2018.

“We have an opportunity for expansion there,” Peter Crawford, Schwab’s chief financial officer, told analysts on Nov. 25. “Over the next four, five-plus years, that is a location where we’ll be likely adding a significant number — and certainly even more significant percentage of our staff.”

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Re: Corporate Relocations/Expansions

Postby Tnexster » 17 Jan 2020 11:08

A LOT OF EXITS LIVE IN TEXAS
The corporate exodus out of California is bad. It could get worse. There’s no plan to stop it — and the Lone Star State hopes there never will be.

https://www.bizjournals.com/dallas/news ... s_headline

In the fall of 2016, a top San Francisco economic development executive took a walk down Market Street to pay a courtesy call on McKesson Corp. The longtime San Francisco corporate giant had recently announced plans to sell and lease back its headquarters, and Dennis Conaghan wondered what it meant for its future in the city. Inside, his worst fears were quickly realized: The company had one foot out the door.

“They said, ‘We don’t need to be here,’” Conaghan said, recalling a lengthy list of complaints that ranged from the high cost of doing business in California to homeless people on their doorstep to neglect from city officials. “They were already moving people to Texas.”

Last year the rest of the company joined them, with San Francisco’s largest Fortune 500 company relocating its corporate headquarters to Irving. The 31,000-person company, which moved to San Francisco in 1970, had more than 1,300 employees in the Bay Area when it announced its departure.

McKesson is the largest Bay Area company to recently flee the state, but it’s certainly got lots of company, from fellow Fortune 500 companies Charles Schwab Corp. and Core-Mark Holding Co. to privately held engineering giant Bechtel Corp. to hundreds of smaller companies and startups whose departures have largely flown far under the radar. It is an exodus that shows every sign of accelerating.

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Re: Corporate Relocations/Expansions

Postby Tivo_Kenevil » 21 Jan 2020 14:31

Too bad we can't START the businesses here. That's the flip side to this situation. The relocations won't last forever and if they do the competition will get stiffer to land them.

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Hannibal Lecter
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Re: Corporate Relocations/Expansions

Postby Hannibal Lecter » 21 Jan 2020 14:54

Tivo_Kenevil wrote:Too bad we can't START the businesses here. That's the flip side to this situation. The relocations won't last forever and if they do the competition will get stiffer to land them.


https://www.forbes.com/sites/andrewdepi ... 410f1546a6

Here are the top-10 best states for starting a business:

1. Utah
2. Florida
3. Texas
4. Colorado
5. California
6. North Carolina
7. Idaho
8. Oklahoma
9. Georgia
10. Wyoming

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quixomniac
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Re: Corporate Relocations/Expansions

Postby quixomniac » 21 Jan 2020 17:50

Hannibal Lecter wrote:
Tivo_Kenevil wrote:Too bad we can't START the businesses here. That's the flip side to this situation. The relocations won't last forever and if they do the competition will get stiffer to land them.


https://www.forbes.com/sites/andrewdepi ... 410f1546a6

Here are the top-10 best states for starting a business:

1. Utah
2. Florida
3. Texas
4. Colorado
5. California
6. North Carolina
7. Idaho
8. Oklahoma
9. Georgia
10. Wyoming


On the surface, I'd be very excited to see Texas as #3, but them putting California at #5 made me suspicious.
How they define "best state to start a business" is very awkward.
There are multiple ways to define a business or be an entrepreneur
If you define it broadly, a business can be something small, like a restaurant/bar or carwash.
But what I figure most people define as a business is a startup that grows into a big company.
And the article that the forbes article cites is this one.
https://www.seekcapital.com/blog/best-s ... witchcraft

They analyze states on a variety of factors like tax climate and venture capital.
California has 26.9 billion in capital funding compared to Texas 2.36 billion.
Venture capital funding is essential for growing a company.
The only drawback in California is their corporate tax that is pushing out companies to Texas.

So when Tivo_Kenevil says why cant we start businesses here isntead?
I think he is referring to, why didnt Uber start here instead of having to move here?
Not so much, why cant I open a restaurant here easily? when the obvious answer is you can easily in Texas.
In spite of everything California is, smart people gravitate towards Cali's universities and cities
Which in turn become hubs for startups, which in turn attract capital. and that attracts smart people
and the self reinforcing cycle continues on and on.
Then when they are ready to leave the nest, they come here.

In order to break this cycle, I feel that no matter how good our tax environment is, we will need to invest in our universities. Maybe we might need to sacrifice some of our tax revenue to fund them
Until our universities match up, we will always be lagging.

An example of this kind of success story would be Dell.
Started by UT freshman Michael Dell in Austin, got some venture capital, grew into a national corporate name.
But the difference is that they stayed in Austin.
Similar story with National Instruments which has it's origin in UT academia.
And they also stayed in Austin.
We need more of that.

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muncien
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Re: Corporate Relocations/Expansions

Postby muncien » 22 Jan 2020 09:20

I'd love to have some home grown tech companies simply for bragging rights... But from a real world perspective, most of these start ups hemorrhage millions of dollars for several years before making a profit, and few of them ever do.
If at the point they need to make cash flow to appease the shareholders, they move to places more business friendly (such as Texas), I'm totally okay with that. Simply being a startup with folks willing to gamble money on you isn't a long term business strategy, and the risks associated with it aren't entirely beneficial to the local/state economy.
In booming economies like we have now, with portfolios flying high, venture capital is easier to come by. But come recession time, that piggy bank will slam shut and these folks will have a very difficult time.
"He doesn't know how to use the three seashells..."

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TNWE
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Re: Corporate Relocations/Expansions

Postby TNWE » 22 Jan 2020 11:36

muncien wrote:I'd love to have some home grown tech companies simply for bragging rights... But from a real world perspective, most of these start ups hemorrhage millions of dollars for several years before making a profit, and few of them ever do.
If at the point they need to make cash flow to appease the shareholders, they move to places more business friendly (such as Texas), I'm totally okay with that. Simply being a startup with folks willing to gamble money on you isn't a long term business strategy, and the risks associated with it aren't entirely beneficial to the local/state economy.
In booming economies like we have now, with portfolios flying high, venture capital is easier to come by. But come recession time, that piggy bank will slam shut and these folks will have a very difficult time.


I think when it comes to tech startups (at least the current wave of app-based, sharing economy-type ones), there's a bit of a self-fulfilling prophecy aspect where no one outside of SF or NYC really tries because those cities suck up all the attention and funding, so the "successful" startups are all concentrated in those cities, reinforcing the belief that you have to be in NYC or SF to be a successful startup, etc, etc.

On top of that, you'll have a harder time poaching coding talent from the larger, more stable F500 companies in the DFW area because so much of the work culture here is based on having a steady income to pay the mortgage and the car note and put your 2.5 kids through private school. In the bay area, people are updating their linkedin practically every week as startups fold or get acquired.

The big Texas tech startups (TI, Dell) are much more asset-heavy with their warehouses and factories, which makes a central location with lots of cheap land much more important than having lots of knowledge workers in close proximity.

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Re: Corporate Relocations/Expansions

Postby Tivo_Kenevil » 22 Jan 2020 11:57

quixomniac wrote:
Hannibal Lecter wrote:
Tivo_Kenevil wrote:Too bad we can't START the businesses here. That's the flip side to this situation. The relocations won't last forever and if they do the competition will get stiffer to land them.


https://www.forbes.com/sites/andrewdepi ... 410f1546a6

Here are the top-10 best states for starting a business:

1. Utah
2. Florida
3. Texas
4. Colorado
5. California
6. North Carolina
7. Idaho
8. Oklahoma
9. Georgia
10. Wyoming




So when Tivo_Kenevil says why cant we start businesses here isntead?
I think he is referring to, why didnt Uber start here instead of having to move here?
Not so much, why cant I open a restaurant here easily? when the obvious answer is you can easily in Texas.
In spite of everything California is, smart people gravitate towards Cali's universities and cities
Which in turn become hubs for startups, which in turn attract capital. and that attracts smart people
and the self reinforcing cycle continues on and on.
Then when they are ready to leave the nest, they come here.


Yes, that was what I was referring to. I think it's been discussed here many times before, how our funding for education needs to step up.

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The_Overdog
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Re: Corporate Relocations/Expansions

Postby The_Overdog » 22 Jan 2020 13:11

It's not just funding though, I think the different nature of DFW prevents most of the current SF-based (ride sharing, food delivery, outsourcing of personal care) tech companies from being relevant enough here to be invented here. The housing costs aren't high enough, the work-culture not strong enough, the traffic not bad enough, etc.

That doesn't mean that DFW doesn't need app-based solutions to different problems, but that they would be so different they aren't going to be developed in a place like SF but rather a place more like DFW if they are developed at all.

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quixomniac
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Re: Corporate Relocations/Expansions

Postby quixomniac » 22 Jan 2020 18:19

The_Overdog wrote: That doesn't mean that DFW doesn't need app-based solutions to different problems, but that they would be so different they aren't going to be developed in a place like SF but rather a place more like DFW if they are developed at all.


I think Dallas, among other cities, countries, have missed this wave of tech innovation when it comes to apps.
There's no point in dwelling on that, as there are other areas of innovation like biotech, pharmaceuticals, agritech, materials science, and telecom among others.
But even then we are late to the game, Austin is in perfect position to leverage their UT research to turn it in to startups, Houston still has oil, but it can leverage its giant medical center.

So what does Dallas have?
it needs the big companies here to invest in the universities if we can't fund them adequately.
Perhaps startups can grow up in the shadow of these giants like mushrooms near trees.
At&t for example would really need 5G to succeed, and Dallas needs At&t to succeed.
A local 5G network in Dallas would be a big advantage towards development of 5G-based startups.
Whatever Dallas needs to do to help At&t get a 5G network here first, it should.
Perhaps other members on the forum have better insight on what Dallas can leverage to its advantage to accelerate startup development and in turn generate home grown successful big business.

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utgf
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Re: Corporate Relocations/Expansions

Postby utgf » 23 Jan 2020 01:27

App based solutions are just a tiny portion of startups happening here.

In my small circle of friends, I have one working at Spacex on their constellation project for satellite based internet access, one working at a startup building various electric self-flying planes from personal ones to medium size, one at a pharmaceutical one on new gene based therapies and another working on AI based drug efficacy.

And the conversations you hear when on a train or a restaurant. Lot of amazing work going on.

And a lot of driven people going to meetups and networking with investors. Most of them are not native Californians and half of them are immigrants from Europe and Asia. And many of them with masters and PHD.

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Zmitz
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Re: Corporate Relocations/Expansions

Postby Zmitz » 05 Feb 2020 17:17

Musk tweeted 'Giga Texas?' with a poll, and set his twitter location to Austin today. While they do have an office presence there, DFW airport and the other regional airports seem especially strong with cargo transport.

Maybe DFW would be lucky enough to get this opportunity? I'm sure regional leaders will be scrambling to lure that kind of development.

https://www.dallasnews.com/business/aut ... ng-a-buzz/

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Tivo_Kenevil
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Re: Corporate Relocations/Expansions

Postby Tivo_Kenevil » 05 Feb 2020 21:09

It'll be in West or south Texas. Definitely won't be in a large metro.

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quixomniac
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Re: Corporate Relocations/Expansions

Postby quixomniac » 05 Feb 2020 21:28

Tivo_Kenevil wrote:It'll be in West or south Texas. Definitely won't be in a large metro.

Any insight behind this statement?

My observation is that theyve learned their lesson from the first Giga factory.
Its harder to hire people, low housing availability, overwhelms infrastructure.
https://www.usatoday.com/in-depth/news/ ... 452396001/

I think it would be in their best interest to be near a metro since land is plenty cheap in the suburbs anyways.

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Tivo_Kenevil
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Re: Corporate Relocations/Expansions

Postby Tivo_Kenevil » 05 Feb 2020 22:55

quixomniac wrote:
Tivo_Kenevil wrote:It'll be in West or south Texas. Definitely won't be in a large metro.

Any insight behind this statement?

My observation is that theyve learned their lesson from the first Giga factory.
Its harder to hire people, low housing availability, overwhelms infrastructure.
https://www.usatoday.com/in-depth/news/ ... 452396001/

I think it would be in their best interest to be near a metro since land is plenty cheap in the suburbs anyways.


The burbs here aren't "cheap" when compared to land in the south /West Texas. The Giga Factory is huge keep in mind. Perhaps, it could work in South Dallas or Southern Dallas County...

Secondly, Elon is interested in Space Exploration and lowering cost for cars.

A factory near a border town makes much more sense the land is plentiful and the blue collar people will line up to work as needed. Since they're Texan, they won't complain for long hours. He's also already visits that part of the state. I'm sure he's open to it.

Plus Elon can go and shoot rockets into the atmosphere when he's in town.

Also the Tex-Mex food will just be irresistible.

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quixomniac
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Re: Corporate Relocations/Expansions

Postby quixomniac » 06 Feb 2020 00:25

Tivo_Kenevil wrote:
The burbs here aren't "cheap" when compared to land in the south /West Texas. The Giga Factory is huge keep in mind. Perhaps, it could work in South Dallas or Southern Dallas County...

Secondly, Elon is interested in Space Exploration and lowering cost for cars.

A factory near a border town makes much more sense the land is plentiful and the blue collar people will line up to work as needed. Since they're Texan, they won't complain for long hours. He's also already visits that part of the state. I'm sure he's open to it.

Plus Elon can go and shoot rockets into the atmosphere when he's in town.

Also the Tex-Mex food will just be irresistible.

Giga Nevada also had the benefit of being near mining facilities.
So for the sake of vertical integration, it just had to be there.

But I dont see a scenario where that would beh the case here.
Id like to clarify that suburbs here are cheap compared to California.
He already has a Space X site in McGregor in the outskirts of Waco, a college town.
About halfway between Austin and Dallas.

The reason he has another site in Brownsville is because of it's southern location,
It is the ideal place to launch rockets from in the US, not because of land price.

So I'd say he should put a site anywhere inside the Texas Triangle.
Including Texas A&M. Actually that would be the best, with a HSR stop coming there soon.

Until he gets Gigafactories fully automated, I'd argue that qualified people are the biggest resource he needs.

Tnexster
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Re: Corporate Relocations/Expansions

Postby Tnexster » 06 Feb 2020 08:35

^Absolutely, Texas Triangle is probably most likely.

Tnexster
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Re: Corporate Relocations/Expansions

Postby Tnexster » 06 Feb 2020 08:38

North Texas’ tight worker supply could threaten corporate relocations, expansions, U.S. labor secretary says

https://www.bizjournals.com/dallas/news ... s_headline

A lack of workforce with the education and training employers need could threaten the steady stream of corporate relocations and expansions that Dallas-Fort Worth has benefited from in recent years, U.S. Secretary of Labor Eugene Scalia said Wednesday in Fort Worth.

But the talent shortage is a challenge nationwide, and is in part due to record low unemployment in most of the U.S., Scalia told reporters in a Q&A session after a private meeting with North Texas business, government and education leaders.

“We are at a point where unemployment is so low and the economy is performing at such a terrific rate that employers are looking hard to find new workers,” Scalia said. “I saw in the meetings I had today that one of the businesses’ biggest concerns is just finding workers.”

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Cbdallas
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Re: Corporate Relocations/Expansions

Postby Cbdallas » 06 Feb 2020 16:07

If they worker shortage is pretty much everywhere then our tax and business advantages would still drive companies here.

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Tivo_Kenevil
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Re: Corporate Relocations/Expansions

Postby Tivo_Kenevil » 06 Feb 2020 18:55

Cbdallas wrote:If they worker shortage is pretty much everywhere then our tax and business advantages would still drive companies here.


IDK, we lead the nation in job growth last year. The exuberant rate of new jobs in Texas can drain the talent. This just highlights the need for more "Affordable" housing so people can come and get those jobs filled.

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quixomniac
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Re: Corporate Relocations/Expansions

Postby quixomniac » 06 Feb 2020 20:54

DMN Buries the Lead on Uber’s Hiring Failures
Last fall, on the heels of the announcement, Uber projected it would have 400 people in Dallas by the start of 2020.

It has about 150. Rest assured that a spokesperson says this has nothing to do with finances.

https://www.dmagazine.com/frontburner/2 ... 4Zk6SE3P-c

I don't know how much of this is DMagazine throwing shade at DMN
But it seems to align with the previous posts. Hopefully this isnt a sign of a long term problem.

cowboyeagle05
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Re: Corporate Relocations/Expansions

Postby cowboyeagle05 » 07 Feb 2020 11:20

Sherman Williams passed on Dallas and stayed home.
https://www.dallasnews.com/business/rea ... -on-texas/

An incentive package in the works from Cleveland and the state no doubt sealed the deal.

Sherwin-Williams said it will build a new 1 million-square-foot headquarters campus downtown.

“The major planned investment in Cleveland and Northeast Ohio we are announcing today reflects our confidence in the continued strength of the region and its people and our public partners’ ability to deliver on their commitments,” Morikis said in a news release this week.
“Growth for the sake of growth is the ideology of the cancer cell”

DPatel304
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Re: Corporate Relocations/Expansions

Postby DPatel304 » 07 Feb 2020 11:21

Thanks for the update! It sounds like a lot of us were kinda expecting this result, so I'm not really disappointed.

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Kelley USA
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Re: Corporate Relocations/Expansions

Postby Kelley USA » 07 Feb 2020 11:40

cowboyeagle05 wrote:Sherman Williams passed on Dallas and stayed home.
https://www.dallasnews.com/business/rea ... -on-texas/

An incentive package in the works from Cleveland and the state no doubt sealed the deal.

Sherwin-Williams said it will build a new 1 million-square-foot headquarters campus downtown.

“The major planned investment in Cleveland and Northeast Ohio we are announcing today reflects our confidence in the continued strength of the region and its people and our public partners’ ability to deliver on their commitments,” Morikis said in a news release this week.


I think it's pretty obvious they used the threat of leaving to get a nice incentive deal for staying... I'm not sure too many people actually though they'd leave. It was all about leverage! Good for Cleveland though. A nice new 1 million sf headquarters coming to their DT.

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muncien
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Re: Corporate Relocations/Expansions

Postby muncien » 07 Feb 2020 12:55

The real question is... How in the world does a paint company fill 1 million sq ft of corporate office?
"He doesn't know how to use the three seashells..."

cowboyeagle05
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Re: Corporate Relocations/Expansions

Postby cowboyeagle05 » 07 Feb 2020 16:03

Well, at least all the paint used in the new campus should come pretty affordably using that corporate discount.
“Growth for the sake of growth is the ideology of the cancer cell”

LongonBigD
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Re: Corporate Relocations/Expansions

Postby LongonBigD » 07 Feb 2020 18:51

Considering all the bad economic news coming out of the upper Midwest the last couple of decades, Im ok with this decision. We are hitting on all cylinders right now. Well get another.

Tnexster
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Re: Corporate Relocations/Expansions

Postby Tnexster » 19 Feb 2020 18:19

Aircraft part maker Triumph Group is putting new $1.3 billion systems and support division in Arlington
Triumph’s structures division already has its HQ in the area.

https://www.dallasnews.com/business/air ... arlington/

Tnexster
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Re: Corporate Relocations/Expansions

Postby Tnexster » 25 Feb 2020 21:15

Goldman Sachs is growing again in downtown Dallas
New York-based financial firm is taking more space in Trammell Crow Center.

https://www.dallasnews.com/business/rea ... wn-dallas/

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eburress
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Re: Corporate Relocations/Expansions

Postby eburress » 31 Mar 2020 19:03


DPatel304
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Re: Corporate Relocations/Expansions

Postby DPatel304 » 31 Mar 2020 20:37

The San Francisco-based company originally said it was halting all construction until next year but later indicated that work on an office tower under construction would continue as planned. Uber is postponing improvements to a single floor of a nearby 16-story tower that it’s now leasing, said spokesman Travis Considine.

Construction on the 25-story high-rise that will eventually house Uber’s Dallas employees is still expected to be completed by May 2022


As far as construction goes, it seems like the only thing that is being halted is the 'improvements to a single floor of a nearby 16-story tower that it's now leasing', correct?

It says that work on an office tower understruction would continue as planned. Are they referring to this Dallas tower?

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eburress
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Re: Corporate Relocations/Expansions

Postby eburress » 01 Apr 2020 09:00

I didn't see that but yes, it sounds like you're correct.

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Hannibal Lecter
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Re: Corporate Relocations/Expansions

Postby Hannibal Lecter » 01 Apr 2020 10:33

The article was updated after it was initially posted. Went from work stopping on the new to tower to "postponing improvements to a single floor".

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eburress
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Re: Corporate Relocations/Expansions

Postby eburress » 01 Apr 2020 10:36

Gotcha! That's a relief, if accurate.

cowboyeagle05
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Re: Corporate Relocations/Expansions

Postby cowboyeagle05 » 01 Apr 2020 10:59

The part that also matters is Uber is halting new hiring. They will obviously renegotiate with the city on their incentive-based hiring deadlines. They were already behind on their employee count anyway.

Not all big offices are keeping employees at home. Some will let go of lots of qualified office workers that Uber could pick up once it looks like things may start to open up again.
“Growth for the sake of growth is the ideology of the cancer cell”

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Tucy
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Re: Corporate Relocations/Expansions

Postby Tucy » 01 Apr 2020 15:14

Trinity Industries Moving HQ From Near Downtown Dallas to Farmers Branch.

https://www.dallasnews.com/business/rea ... rs-branch/

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Tucy
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Re: Corporate Relocations/Expansions

Postby Tucy » 16 Apr 2020 13:20

Addison Company Headquarters Moving to Plano

https://www.dallasnews.com/business/rea ... -to-plano/

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NdoorTX
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Re: Corporate Relocations/Expansions

Postby NdoorTX » 09 May 2020 14:26

Any chance this rings true?? Dallas anyone??


https://www.google.com/amp/s/techcrunch ... ornia/amp/

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eburress
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Re: Corporate Relocations/Expansions

Postby eburress » 09 May 2020 17:05

I think it's a certainty because Musk is over CA's BS. Unfortunately for us I think Nevada might win out, but it would be worth it for TX to roll out the red carpet, shell out the incentive money, etc...

DPatel304
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Re: Corporate Relocations/Expansions

Postby DPatel304 » 11 May 2020 11:15

Image
https://twitter.com/JudgeClayJ/status/1 ... 0651249667

Clay Jenkins and Eric Johnson both trying to lure Tesla to 'southern Dallas'. I wonder what site they are both talking about.


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