In a significant corporate shift, Chevron (NYSE:CVX), a stalwart of California since 1879, has unveiled plans to relocate its headquarters to Texas.
What Happened: The oil behemoth joins an expanding roster of companies that have chosen to uproot from California and set up shop in Texas. This decision comes in the wake of a lawsuit California lodged against Chevron and other energy firms, accusing them of understating the risks associated with fossil fuels.
Texas Gov. Greg Abbott (R) extended a warm welcome to Chevron, referring to Texas as its "true home" in a recent post on X.
According to global real estate firm CBRE (NYSE:CBRE), which itself transitioned from Los Angeles to Dallas in 2020, eight Fortune 500 companies have migrated from California between 2018 and 2023, with 10 making Texas their new home, reports The Business Insider.
Chevron intends to shift its headquarters from San Ramon to Houston by the close of 2024. The company posits that this move will foster improved collaboration and engagement with executives, employees, and business partners. Currently, Chevron has approximately 7,000 employees in the Houston area and 2,000 in San Ramon.
Other prominent companies that have relocated to Texas include Tesla Inc. (NASDAQ:TSLA), Oracle (NYSE:ORCL), AECOM (NYSE:ACM), and Charles Schwab (NYSE:SCHW).
Why It Matters: The trend of companies leaving California for Texas has been gaining momentum over the past few years. Factors such as lower taxes, less regulation, and a more business-friendly environment have made Texas an attractive destination for corporations.
This exodus could have significant implications for California's economy, which has long relied on the presence of large corporations for job creation and tax revenue.
Conversely, the influx of businesses to Texas could stimulate economic growth and job creation in the state.
自1879年以来一直是加利福尼亚州的坚定支持者雪佛龙(纽约证券交易所代码:CVX)公布了将其总部迁至德克萨斯州的计划,这是一次重大的公司转变。
发生了什么:这家石油巨头加入了越来越多的选择离开加利福尼亚并在德克萨斯州开设商店的公司。该决定是在加州对雪佛龙和其他能源公司提起诉讼之后做出的,指控他们低估了与化石燃料相关的风险。
得克萨斯州州长格雷格·阿伯特(R)对雪佛龙表示热烈欢迎,在最近一篇关于X的文章中称得克萨斯州为 “真正的家园”
据《商业内幕》报道,全球房地产公司世邦魏理仕(纽约证券交易所代码:CBRE)本身于2020年从洛杉矶过渡到达拉斯,八家财富500强公司在2018年至2023年间从加利福尼亚迁出,其中10家将德克萨斯州作为新家。
雪佛龙打算在2024年底之前将其总部从圣拉蒙迁至休斯敦。该公司认为,此举将促进改善与高管、员工和业务合作伙伴的协作和互动。目前,雪佛龙在休斯敦地区拥有约7,000名员工,在圣拉蒙拥有2,000名员工。
另请阅读:雪佛龙为第二季度印刷做准备;这些最准确的分析师在财报电话会议之前修改了预测
其他迁往德克萨斯州的知名公司包括特斯拉公司(纳斯达克股票代码:TSLA)、甲骨文(纽约证券交易所代码:ORCL)、AeCom(纽约证券交易所代码:ACM)和查尔斯·施瓦布(纽约证券交易所代码:SCHW)。
为何重要:在过去的几年中,公司离开加利福尼亚前往德克萨斯州的趋势一直在增强。较低的税收、更少的监管以及更有利于商业的环境等因素使德克萨斯州成为企业的有吸引力的目的地。
这种外流可能会对加州的经济产生重大影响,加州经济长期以来一直依赖大公司的存在来创造就业机会和税收收入。
相反,企业涌入德克萨斯州可能会刺激该州的经济增长和创造就业机会。