Last year, 82,235 Californians moved to Texas, down just slightly from the 10-year peak in 2018.
Why is Toyota moving from California to Texas? The move was to save money, but Toyota said relocating brought divisions together for more collaboration, efficiency, and moved it closer to manufacturing in southern states.
Earlier this year, Musk threatened moving Tesla’s headquarters and future programs from California over a dispute with officials stopping the company from reopening its factory due to coronavirus. In July, Tesla announced its new Cybertruck Gigafactory will be in Austin with SpaceX. Musk confirmed he moved to Texas.
Additional companies like Oracle are expected to relocate to Austin as its tech talent grows from people moving there.
Texas’ business climate attracts companies. Over 100 moved headquarters from California since 2018. HP, Oracle, and Tesla made announcements about moving to Texas in late 2020. HP’s future headquarters near Houston opens in 2022.
High-tech companies are also attracted to Texas as technical schools train technicians and universities provide engineering programs. Wider talent pools and generous tax breaks draw companies to Texas.