Texas continues to be a premiere destination for businesses either relocating their headquarters from other states or growing their U.S. operations.
President Donald Trump attended the opening of high-end French designer Louis Vuitton’s first factory in Texas. The company’s $50 billion investment in Keene, Texas, east of Dallas-Fort Worth, will create 1,000 new American jobs over the next five years, it announced.
Czech Republic-based business and processing company OKIN BPS opened its first U.S. headquarters in San Antonio last week, with a capital investment of nearly $23 million. The company is expected to create nearly 1,500 new jobs, and received a $6.6 million Texas Enterprise Fund grant.
And social media giant Facebook opened its second office location in downtown Austin last month, joining other mega-tech companies Apple Inc. and Google in scooping up prime real estate.
More than 75 companies have relocated their national or international headquarters to Dallas-Fort Worth in the past seven years, according to the Dallas Business Journal, with nearly as many regional offices doing the same during the same timeframe.
According to the Journal, 1,800 companies left California in 2016, of which 299 moved to Texas.
Core-Mark, the second-largest distributor of products to the convenience store industry, moved to Dallas from the San Francisco Bay area, citing more favorable operating costs, lower taxes and a central location.
The same year, McKesson Corp., the nation’s largest pharmaceutical distributor, also left the San Francisco Bay area to Irving, just outside of Dallas.
According to the Austin Chamber of Commerce, several companies are also relocating to Texas from out of state.
High-end performance, recreational polyurethane wheel manufacturer AEND Industries, Inc., announced it was moving its headquarters from Huntington Beach, California, to Hutto, and Hyliion, which brings electric hybrid technology to the trucking industry, is relocating from Pittsburgh to Cedar Park.
Investment management firm, Victory Capital, opened its new headquarters in San Antonio this year, after exiting Cleveland. The company added 50 new jobs following its acquisition of San Antonio-based USAA Asset Management Company.
Existing companies with deep roots in San Antonio and Austin also continue to announce expansions, job creation, and new plant development.
Toyota North America announced a $391 million investment in its San Antonio truck plant to retool next generation Tacoma and full-size Tundra pickups through the use of cobots, which assist assembly plant’s line workers by lessening the physical strain of performing the same task hundreds of times a day.
Aisin AW Co., which supplies transmissions to the San Antonio plant, also made a $400 million investment in nearby Cibolo, adding 900 new jobs.
Toyota Motor North America says it has spent more than $3 billion on its San Antonio plant.
Apple Inc. is becoming the largest private employer in Austin, investing $1 billion in construction of a new campus in North Austin less than a mile from its existing facilities. Initially, 5,000 new Austin employees will be added, nearly doubling its current count, and ultimately reaching 15,000 new workers.
Google announced plans to build its first data center in Texas, in Midlothian, roughly 25 miles southwest of Dallas. The $600 million data center is in addition to its 1,100 employees working in downtown Austin.
The U.S. Army’s tech arm, Army Futures Command, also made Austin its headquarters, 500 personnel work.
Austin’s tech and healthcare industries are expected to grow 12 to 15 percent by 2023, according to an analysis by the San Antonio Economic Development Foundation.
This article was first published by The Center Square.