Goldman Sachs moving to Dallas? (Houston, Austin: movers, houses, neighborhoods)

[potatocoins]

Originally Posted by numbersguy100

GS still has big plans for Dallas for middle office and back office employees. These are objectively well-paid people but they aren’t going to be moving to Preston Hollow or Park Cities (in general). Goldman is targeting more of its executives and rainmakers for its West Palm office.

But it’s no surprise that every expansion/relocation has one thing in common - very low tax/regulation jurisdictions. I already know tons of family offices, hedge funds, and private equity funds moving to Austin and Florida. If Goldman successfully hollows out a large portion of its NYC offices, NYC is going to be in an even bigger fiscal crisis than it is already facing. I am not sure how it replaces that lost tax income.

Think of the snowball effect these relocations have as well. Goldman setting up shop in Dallas is a huge signal to other companies that maybe they also need to do what Goldman (and many other companies) are doing.

[R1070]

That’s what I’m hoping happens.

[HP48G]

Originally Posted by potatocoins

Think of the snowball effect these relocations have as well. Goldman setting up shop in Dallas is a huge signal to other companies that maybe they also need to do what Goldman (and many other companies) are doing.

This seems more like an expansion, not abandoning NYC.

[ParaguaneroSwag]

Originally Posted by HP48G

This seems more like an expansion, not abandoning NYC.

You must be new here. Every time a business opens an office in DFW, their headquarters is automatically set to relocate.

[michaeltx9412]

Originally Posted by ParaguaneroSwag

You must be new here. Every time a business opens an office in DFW, their headquarters is automatically set to relocate.

That's true. It's highly likely that their HQ is considering a move to Dallas.

Interestingly enough, DFW has been getting companies relocating there the most in the state.

Houston still has the most fortunate 500, but it seems like Dallas is the most favorite Texas city in the country these days.

[ParaguaneroSwag]

Originally Posted by michaeltx9412

That's true. It's highly likely that their HQ is considering a move to Dallas.

Interestingly enough, DFW has been getting companies relocating there the most in the state.

Houston still has the most fortunate 500, but it seems like Dallas is the most favorite Texas city in the country these days.

Actually, DFW had more last year Houston did this year. Dallas lost a few (JC Penny most notoriously) and Houston gained a few. It usually flip every 5 years or so. For now, DFW and Houston are tied at 2 relocations a piece in F500 since 2020. Dallas got CBRE and Aecom. Houston got HP Enterprise and NRG. But from 16-19, Houston didn’t get any notable F500 relos while Dallas scored some impressive ones.

Like Dallas is more likely to score relocations, Houston has been more known to grow companies from within. Aside from HPE and NRG, Houston’s other F500s gained in the last couple of years are Crown Castle, KBR, and Academy Sports + Outdoors became F500s via growth. There about 3-4 more companies set to emerge into the F500 in the next couple of years but I won’t mention them here.

What impresses me about Houston is that all of their new F500 aren’t O&G companies. Back in 2015, the Houston F500 list looked like an oil company like with a couple of exceptions like Sysco and Waste Management.

[TeeeBK]

Originally Posted by numbersguy100

GS still has big plans for Dallas for middle office and back office employees. These are objectively well-paid people but they aren’t going to be moving to Preston Hollow or Park Cities (in general). Goldman is targeting more of its executives and rainmakers for its West Palm office.

But it’s no surprise that every expansion/relocation has one thing in common - very low tax/regulation jurisdictions. I already know tons of family offices, hedge funds, and private equity funds moving to Austin and Florida. If Goldman successfully hollows out a large portion of its NYC offices, NYC is going to be in an even bigger fiscal crisis than it is already facing. I am not sure how it replaces that lost tax income.

It clearly says they are looking to consolidate workers that are already spread out in various Dallas offices.

[Gree Mountain]

Any corporation that announces relocation plans to Texas should become the target of instant economic protest until their CEOs start using their leverage to help force political change in the state.



The Republican majority that governs the state is hostile to the urban centers that corporations find attractive, and without which Texas would be nothing in an economic sense. Furthermore, how many educated professionals want to live in a state that prioritizes funding to address a non-existent problem at the border over critical infrastructure, unrestrained gun possession over reproductive rights, and voter suppression over democratization?



If corporations want to relocate to Texas, the citizens of Texas need to make them support policies that improve the lives of the state's growing population instead of those that satisfy conservative ideologues and culture war grifters.

[numbersguy100]

Originally Posted by Gree Mountain

Any corporation that announces relocation plans to Texas should become the target of instant economic protest until their CEOs start using their leverage to help force political change in the state.



The Republican majority that governs the state is hostile to the urban centers that corporations find attractive, and without which Texas would be nothing in an economic sense. Furthermore, how many educated professionals want to live in a state that prioritizes funding to address a non-existent problem at the border over critical infrastructure, unrestrained gun possession over reproductive rights, and voter suppression over democratization?



If corporations want to relocate to Texas, the citizens of Texas need to make them support policies that improve the lives of the state's growing population instead of those that satisfy conservative ideologues and culture war grifters.

I don't agree with a lot of the state-level politics in Texas but the idea that things will get better if corporations get MORE involved in politics feels like insanity to me. Why would the citizens of Texas (who elected our current leaders) have any interest in forcing corporations to existing policies? If we don't like them, we should vote out the current leaders rather than turning to private businesses.

[potatocoins]

Originally Posted by Gree Mountain

Any corporation that announces relocation plans to Texas should become the target of instant economic protest until their CEOs start using their leverage to help force political change in the state.



The Republican majority that governs the state is hostile to the urban centers that corporations find attractive, and without which Texas would be nothing in an economic sense. Furthermore, how many educated professionals want to live in a state that prioritizes funding to address a non-existent problem at the border over critical infrastructure, unrestrained gun possession over reproductive rights, and voter suppression over democratization?



If corporations want to relocate to Texas, the citizens of Texas need to make them support policies that improve the lives of the state's growing population instead of those that satisfy conservative ideologues and culture war grifters.

Why do you assume we are all on the same page as you on the policies of Texas? Clearly enough people do support these policies if they are voted on time and time again and Texas continues to attract many people and businesses.