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In a reversal from last year, the U.S. dollar has strengthened against other major currencies in 2018, ...
1,800 companies left California in a year — with most bound for Texas
A record number of companies are leaving California for states with a better business climate, and a new report shows that Texas remains their No. 1 destination.
Topics: California, Texas, Business, Relocation, Headquarters, D-FW, Bay Area, San Francisco
Relocating companies want 'business-friendly' states, but what does that mean?
Texas typically ranks highly in listings of the best states for business. But what factors play into a business-friendly climate, and what states offer the most competition for Texas in the battle for corporate expansions and headquarters relocations?
Site selectors weighed in on that topic among the many discussed at the Dallas Business Journal’s NTX HQ Corporate Relocation Summit held Nov. 5 in Irving.
Brian Corde, co-founder and managing partner of New Jersey-based site selection firm Atlas Insight LLC, said many companies zoom in on right-to-work states and also focus on the ease in which they can get things such as permitting through the government.
“Regulatory environment, setting up a good quality of place, good educational environment, places where people can graduate and then walk back to and live — I think those are the things that keep Texas strong in those rankings,” Corde said.
State and local governments will go to great lengths to cut through red tape for companies.
For example, in an incentive package for Amazon’s HQ2 project, the city of Dallas offered to create a concierge municipal department called the “Amazon Go Team” to expedite and prioritize all things Amazon.
“The 'Amazon Go Team' will be your friends at city hall, reachable by cell phone, obsessed with customer service, and ready to assist with any issue,” the city’s missive to Amazon said. “A permit is being held up? Got a zoning issue? Need to know where to get the best barbecue in town? Call the Go Team.”
Seattle-based Amazon (Nasdaq: AMZN) initially said its HQ2 project would have 50,000 jobs and $5 billion in investment. The e-retail and tech giant ultimately split its HQ2 between New York City and the Washington, D.C. area.
Topics: Texas, Dallas, Austin, D-FW, Business, economy, Business Friendly
Will McKesson’s departure trigger a stampede from California
McKesson’s decision last week to move its headquarters from San Francisco to North Texas raises the prospect that more companies could decide it’s time to move to lower-cost, lower-tax cities.
Topics: McKesson's, Bay Area, Texas, Growth, California, Headquarters, D-FW
$3B company relocating HQ from California to North Texas
A global medical technologies company is relocating its corporate headquarters from California to North Texas.
The latest in a steady stream of moves from California to Texas, DJO plans to move its operations from San Diego to Lewisville within the first few months of 2019, according to a release.
The corporate office will be located at 2900 Lake Vista Drive.
The company provides products that assist in injury prevention, rehabilitation and more. DJO's product lines include orthopedic bracing, hot and cold therapy, therapeutic shoes and inserts and compression garments, among others.
DJO, which recorded $1.2 billion in sales in a recent 12-month period, said that the move will create hundreds of new job opportunities in the region. The company already employs 200 at a new distribution center in Fort Worth that opened a few months ago.
DJO President and Chief Executive Officer Brady Shirley said the company made the decision to move to the region due to its "strong and larger" talent pool, more efficient access to customers, and to take advantage of Texas' "better" corporate environment.
This relocation comes less than a month after the company announced it was changing ownership. On Nov. 19, Colfax Corporation (NYSE: CFX) said it had entered into an agreement to acquire DJO from Blackstone in a $3.15 billion all-cash deal.
The Maryland-based company, which specializes in technology that provides air and gas handling and fabrication products and services, said the move reflected Colfax's intent to diversify its portfolio at the time of the deal's announcement.
"We see significant opportunities to apply our proven Colfax Business System across DJO to create a continuous improvement culture, further improve productivity and margins, and accelerate innovation and new product development," said Matt Trerotola, president and CEO of Colfax, in the release.
DJO's Bracing and Supports and Consumer units will remain in San Diego. It had EBITDA of $269 million for the twelve-month period ending September 2018.
DJO is following a Fortune 500 health care giant into Texas.
Two weeks ago, McKesson Corp. (NYSE: MCK) announced plans to move its global headquarters from San Francisco to Las Colinas.
"Making this move will improve efficiency, collaboration and cost-competitiveness, while providing an exceptional work environment for our employees," John H. Hammergren, McKesson’s chairman and CEO, said in a prepared statement.
Topics: Texas, Dallas, jobs, Employment, economy, Growth
Is the H-1B Visa Program under threat?
On Monday, December 3rd, 2018, the US Citizenship and Immigration Services (USCIS) published striking news that will reverberate through the homes of many Indian immigrants. In its published notice of proposed rulemaking, USCIS announced that it has submitted certain regulatory changes around H-1B petitions. These regulatory amendments could have a profound effect on the future of all H-1B petitions filed, as they intend to put in place a greater favorability in H-1B selection towards U.S. master’s degree holders, who are described as “more meritorious” than other beneficiaries.
Topics: USVisa, GoldenVisa, InvestorVisa, H1-B, Green Card, Visa, H-1B, Investment, Migration, EB-5, Insider, USCIS
Investment Outlook: December 2018
US Freedom Capital
Investment Outlook
December 2018
From: David Gunderson, Chief Investment Officer
Topics: Dallas, Texas, Investment, USD, real estate, Hedge, volatility