Austin, TX

Study finds that Texas is top state gaining business headquarters

Published

1 year ago

January 21, 2024

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.

What You Need To Know

In total, the study said Texas gained 209 business headquarters, with 66 of those moving to Austin, 32 to Dallas and 25 to Houston

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

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

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.

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Austin, TX

Resolution Economics Expands its Financial Advisory Services Practice with Addition of Austin, Texas office

Published

6 hours ago

January 28, 2025

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Resolution Economics Expands its Financial Advisory Services Practice with Addition of Austin, Texas office

LOS ANGELES, Jan. 28, 2025 /PRNewswire/ — Resolution Economics, LLC (“Resolution Economics” or “ResEcon”) announced today that it has expanded its services and geographic footprint through the opening of its new Austin, Texas office. Jeff Andrien, M.B.A., Partner, will lead the new office, which will be part of the Financial Advisory Services (“FAS”) practice group.

Resolution Economics (PRNewsfoto/Resolution Economics, LLC)

Now in its 27^th year, Resolution Economics is a leading specialty consulting firm providing economic and statistical analysis and regulatory compliance advice to companies, law firms, non-profits, universities, and others. The firm has expertise in labor and employment matters, finance/forensic accounting analysis, valuations, artificial intelligence bias audits, and life sciences. ResEcon’s Financial Advisory Services team provides analysis in a wide range of consulting situations to help companies understand their internal compliance circumstances and provides expert assistance and testimony in a variety of commercial dispute settings.

Mr. Andrien holds an M.B.A. from the University of Texas. Joining Mr. Andrien as a Director in Austin is Prateek Shah, M.P.A, CPA. Mr. Andrien, Mr. Shah and their Austin-based team bring more than 25 years’ experience analyzing damages issues pertaining to antitrust, intellectual property, marketing, securities, other commercial damages, as well as valuations for businesses and law firms. They have authored numerous expert reports and testified as expert witnesses in state and federal courts throughout the United States. Mr. Andrien and Mr. Shah teach undergraduate and graduate level courses in finance at the McCombs School of Business at the University of Texas.

“While our work is nationwide, we are thrilled to have an on-the-ground presence in the thriving business market of Texas,” said Ali Saad, Managing Partner at ResEcon.

“Resolution Economics has long been known for its consistent high quality, thoughtful and innovative work,” said Mr. Andrien. “We are delighted to join such a well-respected group and expand the firm’s reach.”

J. Duross O’Bryan, head of ResEcon’s FAS practice group said: “We know there are many opportunities for Jeff and his team to provide their significant experience in the valuation and damages area. This is a good fit for both of us and we are very excited to have them join our team.”

The Austin office is located at 15918 W Courtyard Drive, Suite 250A, Austin, TX 78730

Resolution Economics is a portfolio company of Levine Leichtman Capital Partners (LLCP).

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Austin, TX

2 confirmed cases of measles reported in Texas

Published

17 hours ago

January 28, 2025

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2 confirmed cases of measles reported in Texas

Measles in Texas

The Texas Department of State Health Services has confirmed the first cases of measles in the state since 2023.

AUSTIN, Texas – The Texas Department of State Health Services has confirmed the first cases of measles in the state since 2023. Health officials say those two reported cases are in Houston.

There have not been any confirmed cases in Central Texas, but Austin Public Health is asking residents to be proactive.

What is measles?

The backstory:

Measles is a highly contagious and, in some cases, deadly disease. Symptoms develop 7–14 days after infection, according to health officials.

“You could experience a very high fever, cough or runny nose, things like that, watery red eyes. A few days later, you’ll start to get a rash, and so that rash will start to look like white spots on the inside of your cheeks and then a rash that usually starts on your face and spreads down your body,” says Chief State Epidemiologist Varun Shetty.

Chief state epidemiologist Varun Shetty says measles is an airborne disease.

“Measles spreads through coughs and sneezes. It can stay in a room for up to two hours. Someone could get measles just simply by being in the room where someone who is sick had it. If you are not protected with the vaccine,” says Shetty.

Why you should care:

This month, the Houston Health Department identified two cases of measles associated with international travel.

Health officials said to prevent the spread of the disease, getting vaccinated is recommended.

“Typically, the vaccine that you receive from your doctor is called the MMR vaccine. It stands for measles, mumps, and rubella. It’s a two-dose vaccine. Two doses of this vaccine are highly effective at protecting against measles. In fact, it prevents 97% of cases of measles,” says Shetty.

Shetty says if you are not vaccinated, and you are exposed to the disease, take the proper precautions to protect yourself and the public.

“The most important thing is to isolate yourself, stay away from other people so you can reduce the risk of spreading it to others. Then we would recommend you to call your doctor on the phone ahead of time and let them know that you’re concerned about that so that you can arrange a safe way to get evaluated and get tested and then follow those doctor’s instructions,” says Shetty.

Health officials say those most at risk are pregnant women, children and those with weak immune systems.

The Source: Information from interviews conducted by FOX 7 Austin’s Tan Radford

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Austin, TX

How many immigrants have been arrested? See which Texas cities had ICE raids this weekend

Published

1 day ago

January 27, 2025

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How many immigrants have been arrested? See which Texas cities had ICE raids this weekend

Within a week of Donald Trump’s second term as president, several raids were conducted by ICE agents throughout Texas as well as the rest of the U.S. Upon entering office last Monday, Trump delivered on a campaign promise and issued an executive order to “protect the American people against invasion.” His administration has said the aggressive deportation efforts would prioritize “violent offenders.”

The Drug Enforcement Agency, the FBI and the Bureau of Alcohol, Tobacco, Firearms and Explosives assisted with the Texas operations.

An ICE spokesperson confirmed the raids in North Texas in an emailed statement to Texas Public Radio:

“U.S. Immigration and Customs Enforcement along with our federal law enforcement partners began conducting enhanced targeted operations today in North Texas and the state of Oklahoma to enforce U.S. immigration law and preserve public safety and national security by keeping potentially dangerous criminal aliens out of our communities.“

How many undocumented immigrants have been arrested?

Beginning Thursday, Jan. 23, ICE has reported single-day U.S. statistics for the number of individuals arrested and charged with a crime as well as those detained.

Jan. 23: 538 arrests, 373 detainers lodged
Jan. 24: 593 arrests, 449 detainers lodged
Jan. 25: 286 arrests, 421 detainers lodged
Jan. 26: 956 arrests, 554 detainers lodged

Similar operations occurred in Arizona, California, Colorado, Florida, Georgia, Illinois, Massachusetts, Michigan, Minnesota, Nebraska, New Jersey and New York, according to various news reports.

It is unclear how many of these arrests and detainments occurred in Texas. However, several cities across the Lone Star State saw these “enhanced targeted operations” on Sunday.

Where did the ICE raids happen in Texas?

Officials have yet to confirm how many undocumented immigrants were apprehended in Texas Sunday. However, local news outlets suggest the following areas have been subjected to the raids: