Austin, TX
Study finds that Texas is top state gaining business headquarters
AUSTIN, Texas — A study looking at headquarter relocations in the U.S. found that Texas was the number one state business headquarters moved to in the past five years, with Austin being the top city on the list.
The study was done by CBRE, a global commercial real estate services and investment firm, to look at the trends in headquarter relocations and what the implications of those trends mean for businesses. It reviewed nearly 500 publicly announced relocations from 2018 to 2023.
Some of the key findings of the study were that it was an active five years in relocations, with 2021 having the most relocations at 137, and the technology industry saw the most movement, with the manufacturing industry following close behind.
It would then make sense why Austin came out on top because of its emergence as a tech hub, with the city being dubbed by some as the new Silicon Valley.
“Austin has emerged as a global tech hub, offering cost and culture advantages,” the study said. “An HQ relocation from Silicon Valley to Austin typically saves 15% to 20% in tech employee wages. Austin also has a markedly lower cost of living than Silicon Valley (although not to the extent of other Texas cities).”
One of the major relocations the study discussed was Elon Musk’s decision to move his Tesla’s headquarters to Austin back in 2021.
In total, the study said Texas gained 209 business headquarters, with 66 of those moving to Austin, 32 to Dallas and 25 to Houston.
“Today, 55 of the Fortune 500 companies are headquartered in Texas, the most of any state,” the study said. “Major firms like Oracle, HPE and Charles Schwab moved there after the pandemic began.”
Outside of Texas, Nashville and Denver rounded out the top five cities, with 21 and 11 headquarters added, respectively.
The cities that lost the most headquarters included two California cities, San Francisco/San Jose at 79 and Los Angeles/Irvine at 50, and New York City, which lost 21 headquarters.
The study found that the most common reason for businesses to move were tied to cutting costs, which made Texas a favorable place because of its lower taxes. Some other reasons the businesses mentioned included regulatory policies, crime, homelessness and other social factors.
Austin, TX
No shots fired at Rodeo Austin, crowd panic triggered by fight between minors
AUSTIN, Texas — Rodeo Austin and the Travis County Sheriff’s Office cleared up confusion after a scare in the rodeo’s carnival area Tuesday night.
Deputies and multiple law enforcement agencies working off-duty at the event received reports of shots fired around 9:20 p.m. after a large crowd began running and dispersing from the carnival area. Investigators found no guns, no evidence of gunshots and no injuries, the sheriff’s office said.
ALSO | Deadly SE Austin fire that killed three children has estimated $120k worth of damages
The incident was later determined to have started as a physical altercation between minors.
In a statement, Rodeo Austin said on-site law enforcement responded quickly to defuse the situation:
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“On Tuesday night, during the $2 Tuesday promotion, a disturbance occurred in the carnival area, which caused confusion for attendees. Rodeo Austin’s on-site law enforcement responded quickly to help defuse the situation and ensure all guests were safe. There is no evidence of any gun shots fired at the event. We will continue to work diligently with law enforcement and our full safety team to ensure Rodeo Austin is a safe environment for all attendees,” a spokesperson said.
Austin, TX
Rents in this Texas city among biggest decreases in country, report says
Photo: Julius Shieh (FOX 7 Austin)
AUSTIN, Texas – Texas rent prices have been declining faster than the national average, a new report says, and one major city in particular is leading the charge.
New rent price study
After a steep climb in nationwide rent prices following the COVID-19 pandemic, the numbers have been either staying flat or slowly decreasing across the country year by year since then, according to a new study released by ApartmentList.com.
Texas prices have been declining at an annual rate of about 2.9% on average since 2021, the report says. In comparison, the nation’s prices decreased by 1.5% as a whole in the past year.
Austin sees sharpest drop
Austin has seen the nation’s fastest drop among comparably-sized cities, the report says, with a 5.9% decrease in the past year. It’s down a total of 20% since its peak in 2022.
The report says the city is also significant for permitting new homes at the fastest pace of any large metro in the country, indicating the impact of new supply on softening rents. San Antonio is similar in this regard, the report says.
Photo: Julius Shieh (FOX 7 Austin)
Cities with fastest growth
The other side:
On the reverse, Virginia Beach, VA saw the fastest growth in the nation over the past year with 5.3%.
Two Bay Area metros, San Francisco and San Jose, were next in line for fastest growth. The report says this is largely due to the AI boom and steep climb in tech jobs in the area.
FILE-View of the Golden Gate Bridge from Marine Headlands with San Francisco, California, USA in the background. (Wolfgang Kaehler/LightRocket via Getty Images)
The Source: Information in this article comes from ApartmentList.com.
Austin, TX
Award-winning Austin brunch spot opens in West Highland
An Austin diner is launching its first location outside of Central Texas in Denver’s West Highland neighborhood this week, breathing life into an ample corner property amid mounds of cheddar hashbrowns and biscuits.
The operators of Paperboy first announced their expansion to Denver in October. Founder Ryan Harms conceived the restaurant as a food trailer in 2015 and opened its second Austin locale last year. It’s one of Austin’s best-rated brunch spots by customers and local publications, including Eater and Austin Monthly Magazine.
Its Colorado arrival repurposes the interior of the former Rooted Craft Kitchen and FNG (3940 W. 32nd Ave., Denver) as a blue-and-yellow diner serving breakfast and lunch through the early afternoon. Its menu of Southwest-inspired dishes — cheddar and poblano biscuits, pork hash, chorizo and potato empanadas, cornmeal pancakes and mascarpone-topped cinnamon toast — and cocktails are translated to the Denver location.
Two of the concept’s leaders, including executive chef Pat Jackson, are overseeing operations in Denver.
The West Highland location sits 75 people inside and 20 on its patio. Paperboy opens at 8 a.m. every day, closing at 2 p.m. during the week and 3 p.m. Friday and over the weekend.
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