Posted on 12/20/2020 8:53:40 PM PST by SeekAndFind
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.
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. 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.
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.”
Here’s a rundown of some of the large tech companies that in 2020 have announced plans to leave the Bay Area for Texas.
Some CEOs are moving to Texas, too, as reported by TheInformation.com, a website that covers the technology industry.
Florida—with its sunshine, affordable real estate, and low tax rates—is also growing as a tech and startup hub. Reddit co-founder Alexis Ohanian moved from San Francisco to Florida several years ago. What's more, New York–based Goldman Sachs is considering moving some of its operations to Miami, according to the New York Times.
According to TheNextMiami.com, three tech investors have announced their moves to Miami. David Blumberg, founder and managing partner of the venture capital firm Blumberg Capital; Keith Rabois, a general partner at Founders Fund and a former executive at PayPal and LinkedIn; and Jon Oringer, a former New York resident who is the founder and executive chairman of Shutterstock. Oringer recently bought a $42 million house in Miami.
Silicon Valley—and its numerous tech firms—have attracted talent for decades. Now, though, exorbitant housing costs, high taxes, and strict regulations have made it a challenging place to live, work, and do business. A silver lining of the COVID-19 pandemic is that many firms have successfully implemented work-from-home strategies. Moving forward, this will give companies and employees alike more flexibility over where and how to work.
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Texas is a much better choice than Florida, Tennessee also is a no tax state and has 4 seasons and wonderful biscuits and gravy.
So Texas and Florida will be overrun with H1B Indians and all the filth they bring?
My impression is that this is mostly GOP CEO’s finally putting up the white flag re CA’s costly impositions.
“Why Silicon Valley Companies Are Moving to Texas [And Florida as well]”
To win electoral votes. This is the final FU from Big Tech.
They have in tow tens of thousands of new progressive voters who will be re-locating at their behest.
We are overrun here with Indians, already, my neighborhood is mostly Indian.
I hope Texas isn’t cutting these companies sweetheart tax deals to lure them in. Some day, it’s always time to pay the piper and they’ll move on to the next idiot state willing to burden their future citizenry with excess taxes.
Problem is that these big tech companies are moving from California to the most liberal large city between San Francisco and Boston.
and some of the nicest people I’ve ever met. I had a customer in eastern Tenn and enjoyed my visits there.
Oh, great. They’ll flip both states to the rats.
Why?
Because they screwed up California supporting socialism until they can’’t afford the taxes and since TX doesn’t have a state income tax yet they will move there and screw it up as well.
Unfortunately, they’ll bring their policies and liberal voters with them.
If they like liberal policies why would they not stay in CA?
TX & FL is full of red necks.
My daughter & her husband both work in silicon valley and love the mild climate year round there. TX & FL are hot & muggy 10 months in the year.
Are you in Dallas area?
Texas at least has decent schools in the larger metros. Florida does not.
Enjoy the Asian and white liberal Democrat transplants from Cali Texas Freepers! 😂
Austin ?? Hmmmm they had a big Cyber Hacking there last Week so hurry they might need some Tech help . NOT
As for Flori-duh, you’d be hard pressed to find a southern accent anywhere south of Daytona. I knew more folks (like me) from NY than who were actually born there when I was in high school in Boca Raton from 91-94.
Never forget the filthy H1-B Indians are here because the natural born citizens in congress passed the laws to make it possible. And who hires those H1-B workers? American companies.
Point is never blame the beggar for accepting a large gift. It is always the gift giver in charge.
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