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Houston is the most known/successful in home grown. But regardless , they have more relocations in F500s than Austin has F500 companies in total, so I wouldn’t add them on the same list. HPE and NRG’s relocation along with AIG’s wealth management division spin-off alone match Austin’s total.
While DFW is rightfully a relocation hotspot, it’s good for entrepreneurial as well. The start ups are what pave the way for relocations after all.
HP already has that large former Compaq office in Houston anyway...no surprises about HPE (as a spin-off) headquartering there.
For some reason I've always associated NRG with Houston lol...maybe b/c of the stadium name.
HP already has that large former Compaq office in Houston anyway...no surprises about HPE (as a spin-off) headquartering there.
HPE spun off of HP a few years back and remained in San Jose. Didn’t move as a spin-off. That’s AIG’s wealth management division.
The point in the post was that in recent relocations alone, Houston F500 surpasses Austin’s total (3) as a whole so I wouldn’t put them in that conversation.
Those DFW companies also previously had large presences in DFW via acquisitions and mergers. AECOM recently acquired DFW-based Incora and also had some oil and gas assets that were centered there before they relocated there.
Most relocations start one way or another in that form, Houston’s are no different. DFW is an underrated startup hub.
Humble Oil wasn’t responsible for the majority of ExxonMobil’s structure. You list listen out where the arm that was in Houston stemmed from. The majority of ExxonMobil’s current structure dates back to Rockerfeller’s Standard Oil Company.
Quote:
Originally Posted by atadytic19
That campus has long been complete.
And Exxon isn't/ wasn't a DFW grown company.
Exxon came about as rebranding of Houston's Humble Oil and then combining with Standard Oil of New Jersey. I think Humble had already rebranded as Exxon before the merger.
After the merger of Humble Oil and Standard Oil of NJ, the resulting Exxon merged with Mobile Oil (Standard oil of New York) to form today's ExxonMobile.
I get what you are saying but to add to that, I wouldn't call those full relocations as those also had strong Houston ties.
Before the relocations NRG merged with reliant which was a Houston grien company.
HPE broke off from HP, which had merged with Compaq, a former Houston company.
What I'm trying to say is DFW seen lucky to get relocations that are less tangibly entwined with the area, while the companies that settled in Houston were pretty much already there.
If anything Exxon Mobile is just a result of patching up companies that resulted from breaking up Stand Oil of Cleveland into a ton of smaller companies such as Standard Oil of NY, Standard Oil of NJ....
The Spring Campus was finished in 2015 and already was the operations center for Exxon Mobile. Mobile's old headquarters in a Virginia was kept as the downstream headquarters for ExxonMobil after the merger up until 2015 when the headquarters was moved to the New Spring Campus. Leftover Exxon operations dating back to the Humble Oil period was also moved from downtown Houston to the Spring Campus in 2015.
Humble Oil and Texaco (Now Chevron) were the biggest brands long associated with Houston and the former headquartered in Irving and the latter headquarters in SF Bay Area didn't matter much because both kept major ties with Houston.
HPE spun off of HP a few years back and remained in San Jose. Didn’t move as a spin-off. That’s AIG’s wealth management division.
The point in the post was that in recent relocations alone, Houston F500 surpasses Austin’s total (3) as a whole so I wouldn’t put them in that conversation.
I think he is saying that HPE already had a huge Houston presence. In fact all 3 companies you mentioned already did.
American General was a Houston insurance company founded in Houston by prominent Housonian Gus Wortham (of Wortham Theater fame). American General merged with AIG and was spat back out as Corebridge so technically it has homegrown roots.
I already mentioned Compaq to HP and then HP spitting out HPE that moved (back) to Houston.
NRG grew from a Houston grown power company
Quote:
Originally Posted by ion475
HP already has that large former Compaq office in Houston anyway...no surprises about HPE (as a spin-off) headquartering there.
For some reason I've always associated NRG with Houston lol...maybe b/c of the stadium name.
Ha ha, you eased into it.
Houston Power and Lights Co => Houston Industries => Reliant Energy (reliant Astrodome and Reliant Center) => NRG ( NRG Center)
Quote:
Originally Posted by ParaguaneroSwag
Those DFW companies also previously had large presences in DFW via acquisitions and mergers. AECOM recently acquired DFW-based Incora and also had some oil and gas assets that were centered there before they relocated there.
Most relocations start one way or another in that form, Houston’s are no different. DFW is an underrated startup hub.
Humble Oil wasn’t responsible for the majority of ExxonMobil’s structure. You list listen out where the arm that was in Houston stemmed from. The majority of ExxonMobil’s current structure dates back to Rockerfeller’s Standard Oil Company.
I did say that Exxon was a result of putting back fragments of Standard Oil back together. I didn't say it was a wholly Houston company, I said that the Exxon Brand was a rebranding of Humble Oil company which merged with Standard Oil of NJ and kept the Exxon brand. So Exxon = Humble Oil. The Mobil part came from a merger with Mobil which came from Standard Oil of NJ. Both Standard oils came from Standard Oil of Cleveland but nevertheless Exxon is a rebranding of Humble Oil, another Houston Company returning to where it had roots.
If anyone is interested here is a lengthy write up on how Humble Oil became Exxon:
Quote:
In the 1960s and early 1970s the management of both Humble and Standard Oil of New Jersey had become increasingly concerned about the lack of a unified public corporate identity....In early 1972 Humble and Standard of New Jersey announced that their gasoline products were to be marketed as Exxon, that Standard of New Jersey was changing its name to Exxon Corporation
Humble didn't originally merge with Standard, Standard originally bought 50% of shares in Humble and the companies grew together until the company was unified under the Exxon name.
Last edited by atadytic19; 02-13-2023 at 03:32 PM..
I think he is saying that HPE already had a huge Houston presence. In fact all 3 companies you mentioned already did.
American General was a Houston insurance company founded in Houston by prominent Housonian Gus Wortham (of Wortham Theater fame). American General merged with AIG and was spat back out as Corebridge so technically it has homegrown roots.
I already mentioned Compaq to HP and then HP spitting out HPE that moved (back) to Houston.
NRG grew from a Houston grown power company
Ha ha, you eased into it.
Houston Power and Lights Co => Houston Industries => Reliant Energy (reliant Astrodome and Reliant Center) => NRG ( NRG Center)
Other than Tesla, all of the relocations to Texas in the past 5 or so years have had a large presence in Texas via a home grown arm before relocating there.
Other than Tesla, all of the relocations to Texas in the past 5 or so years have had a large presence in Texas via a home grown arm before relocating there.
McKesson consolidated their North Texas operations in 2016 by moving 900 already existing jobs in North Texas and consolidating in the former NEC campus. Where exactly those 900 workers originated, I don’t know but given McKessons’s heavy M&A history, I wouldn’t if some of these overlapped within the metro.
McKesson consolidated their North Texas operations in 2016 by moving 900 already existing jobs in North Texas and consolidating in the former NEC campus. Where exactly those 900 workers originated, I don’t know but given McKessons’s heavy M&A history, I wouldn’t if some of these overlapped within the metro.
Tesla is honestly the only company here I see that went from an almost non existent operation to global hq within such a short period of time.
Very true. Usually there’s no reason a company would move to an area they have no presence in. Usually they set up an office and expand that office then the HQ relo comes after.
Very true. Usually there’s no reason a company would move to an area they have no presence in. Usually they set up an office and expand that office then the HQ relo comes after.
Yeah that is the definition of relocation.
But there is a difference between a company moving to an area slowly and a company growing there from the bottom up. The latter is referred to as homegrown.
A company like Neiman Marcus has history with DFW. It is home grown. A company like McKesson that tested the waters by having some employees in the area and then decided to move the headquarters there isn't the history i'm taking about.
In its 200 year existence McKesson has spent 120 in NY, 70 in SF and like 5 in DFW. AT&T, Caterpillar, CBRE, even Exxon all had casual associations with DFW before the headquarters were moved there.
Companies get poached all across the country constantly but I think DFW has been king. The other Texas cities don't come close.
I knew this data sounded familiar, we had a similar thread last year...
2022 Fortune 1000 Headquarters By State
California 131
Texas 97
New York 87
Illinois 62
Ohio 54
Pennsylvania 45
Florida 38
Georgia 34
Virginia 34
Massachusetts 33
Colorado 31
Michigan 31
North Carolina 29
Minnesota 27
Connecticut 24
New Jersey 23
Tennessee 22
Missouri 21
Wisconsin 21
Arizona 20
Indiana 19
Washington 17
Nevada 10
Delaware 9
Maryland 8
Oklahoma 8
Nebraska 7
Rhode Island 7
Arkansas 6
District of Columbia 6
Iowa 6
Kentucky 6
Louisiana 5
Oregon 5
Utah 5
Idaho 4
Kansas 4
Alabama 3
South Carolina 3
Hawaii 2
Maine 2
New Hampshire 2
Mississippi 1
North Dakota 1
Vermont 1
2022 Fortune 1000 Headquarters By City Proper
New York, New York 69
Houston, Texas 35
Chicago, Illinois 27
Atlanta, Georgia 24
San Francisco, California 22
Dallas, Texas 19
San Jose, California 15
Columbus, Ohio 13
St Louis, Missouri 13
Charlotte, North Carolina 12
Denver, Colorado 11
Irving, Texas 11
Pittsburgh, Pennsylvania 11
Boston, Massachusetts 9
Cincinnati, Ohio 9
Cleveland, Ohio 9
Minneapolis, Minnesota 9
Seattle, Washington 9
Santa Clara, California 9
San Diego, California 8
Omaha, Nebraska 7
Phoenix, Arizona 7
Indianapolis, Indiana 6
Milwaukee, Wisconsin 6
Washington, District of Columbia 6
Reston, Virginia 6
Detroit, Michigan 5
Jacksonville, Florida 5
Los Angeles, California 5
Nashville, Tennessee 5
Philadelphia, Pennsylvania 5
St Paul, Minnesota 5
San Antonio, Texas 5
Spring, Texas 5
[url]https://fortune.com/fortune500/2022/search/[
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