The exodus of corporate headquarters from California accelerated in 2021 and shows no signs of abating this year, with Texas by far the top relocation destination for HQ moving out of the Golden State.
More than two dozen California-based companies moved their headquarters to Texas last year, with Dallas-Fort Worth and Austin topping the list of TX metros that became the new home for these CA firms.
In December, Tesla moved its HQ from Palo Alto, CA to Austin, where Tesla is about to open its newest Gigafactory assembly plant for electric vehicles. Tech giant Oracle also moved its HQ from Silicon Valley to Austin last year.
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