Why Silicon Valley Companies Are Moving to Texas

They are fleeing high taxes, expensive housing, and governmental regulations

Silicon Valley’s mild climate, educational opportunities, and job prospects have attracted workers for more than a century and helped turn the area into the tech industry’s epicenter. However, its center-of-the-tech-universe status may be fading. Here’s why.

A Tech Exodus

An impossible housing market, high tax rates, and strict regulations have made it challenging to live, work, and do business in Silicon Valley. And now, as companies are finding success with work-from-home models during the COVID-19 pandemic, many CEOs are opting to leave California in search of lower real estate prices, better tax laws, and fewer restrictions.
Where Are the Tech Companies Going?

One state that has gained ground as a tech hub is Texas. Industry leaders such as Advanced Micro Devices and Dell already have an Austin—aka “Silicon Hills”—presence.1

2 As of November, 35 companies had relocated to or opened new facilities in the Austin area in 2020 alone, according to data from the Austin Chamber of Commerce.3

Austin has many qualities that make it an attractive option. “There are a lot of things about this community—it’s got a great local flavor, a great music scene, it’s an outdoors city,” said Laura Huffman, president and CEO of the Austin Chamber, as reported by CNN Business. “That’s where people want to be. I think 2020 has taught us all that we have more choice when it comes to where we live.”

Which Companies Are Leaving?

Here’s a rundown of some of the large tech companies that in 2020 have announced plans to leave the Bay Area for Texas.

https://www.investopedia.com/why-silicon-valley-companies-are-moving-to-texas-5092782
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Why Silicon Valley Companies Are Moving to Texas PgkowJT

Why Silicon Valley Companies Are Moving to Texas PgkowJT

Why Silicon Valley Companies Are Moving to Texas

Why Silicon Valley Companies Are Moving to Texas

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