Oracle and Hewlett Packard are among the tech giants who have recently announced plans to move their headquarters to Texas. Austin's tech talent has been growing for several years, and as more people move to the Texas capital, more companies are expected to move to the area. For example, Oracle moved out of the Bay Area last year and is now a major employer in Austin. Large companies, such as Oracle, attract a large volume of tech talent, often attracting other technology companies to the area hoping to tap into the local talent pool.
So far this year, companies have moved from places like San Francisco, Portland, North Carolina and Dallas. To keep track of technology companies opening Austin headquarters, Built In created an updated list of these relocation companies. Tesla CEO Elon Musk announced Oct. 7 that the company would move its headquarters to Austin and officially made the move in December, according to an SEC file.
Tesla is in the process of building a four to five million square foot gigafactory near Austin-Bergstrom International Airport. The gigafactory could employ at least 5000 people. In mid-August, Green Dot announced that its corporate headquarters will be moving from Pasadena, California, to Austin. Founded in 1999, Green Dot is a digital banking and fintech company that has served more than 33 million customers.
The company, which is actively hiring for dozens of remote stations, is also a provider of reloadable prepaid debit cards. Government software provider GoVos announced plans to move its headquarters from Dallas to Austin in August. It plans to hire at least 40 new employees by the end of the year. Markaaz uses AI-based software to connect SMEs with customers and services.
The company announced its move from Los Angeles to Austin in April. According to Austin Inno, Markaaz plans to incorporate 70 people by the end of the year. Originating from Portland, Oregon, it is the real estate investment platform CrowdStreet. When the company moved in March, it planned to hire 80 new employees, CEO and co-founder Tore Steen previously told Built In.
Harmonate is another company moving from California to Austin. Harmonate, which specializes in streamlining private equity document processing and data operations, announced the move in late March. With an area of more than 3.8 million square feet on 95 acres of land, Amazon's logistics center in Pflugerville is one of the largest buildings in the city, employing more than a thousand people and becoming one of the largest employers in the city. Although SpaceX is still officially headquartered in California, Elon Musk's space company has two existing facilities in Texas and is working on a third manufacturing plant here in Austin.
Musk is slowly moving his business out of California to Texas, citing Texas tax rates and trade regulations as the appeal to the Lone Star State. One of the biggest companies to move to Austin was Tesla. Construction of the 7.9 million square foot Gigafactory is underway. When complete, it will be equivalent to about 138 football fields and employ 5000 people.
In many cases, those transplants are moving to Texas because their companies decided to move here first, and in some cases, those companies receive big incentives from local government in the Austin area. Other such moves include Palantir, who camped for Denver, while Musk said last month that he had moved to Austin.