Taking a Closer Look at the Wave of Corporate HQ Relocations

The corporate headquarters relocation pipeline from California to Texas was a well-worn story during the pandemic’s early days. The relocation of numerous Silicon Valley companies into the Lone Star State became a point of significant pride for Texans. Recent reports show corporate headquarters relocations have notably cooled. With the dust settled on major moves within the past few years, an analysis of these relocations shows how much Texas and other states gained. However, the complete picture of corporate headquarters relocations is a bit more nuanced.

CBRE recently analyzed U.S. corporate headquarters relocations by reviewing about 500 publicly announced relocations between 2018 and 2023, ranging from start-up enterprises to Fortune 500 firms. The five-year period was highly active for these moves, with 465 relocations identified since 2018. Relocations peaked at 137 in 2023 and have cooled since then. Texas attracted the most HQ moves between 2018 and 2023 (209), with Austin (66), Dallas (32), and Houston (25) being the big winners. The cities that lost the most headquarters offices were San Francisco/San Jose (79), Los Angeles (50), and New York City (21)...