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1,800 companies left California in a year — with most bound for Texas

Posted by USFC Team on Dec 18, 2018 5:50:52 AM

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.

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Topics: California, Texas, Business, Relocation, Headquarters, D-FW, Bay Area, San Francisco

Relocating companies want 'business-friendly' states, but what does that mean?

Posted by USFC Team on Dec 18, 2018 5:31:40 AM

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.

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Topics: Texas, Dallas, Austin, D-FW, Business, economy, Business Friendly

Will McKesson’s departure trigger a stampede from California

Posted by USFC Team on Dec 18, 2018 4:54:35 AM

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.

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Topics: McKesson's, Bay Area, Texas, Growth, California, Headquarters, D-FW

$3B company relocating HQ from California to North Texas

Posted by USFC Team on Dec 17, 2018 5:22:47 AM

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.

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Topics: Texas, Dallas, jobs, Employment, economy, Growth

Is the H-1B Visa Program under threat?

Posted by USFC Team on Dec 7, 2018 6:40:40 AM

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.

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Topics: USVisa, GoldenVisa, InvestorVisa, H1-B, Green Card, Visa, H-1B, Investment, Migration, EB-5, Insider, USCIS

Why EB-5 is the Best Solution for Your H-1B Woes

Posted by USFC Team on Oct 23, 2018 4:11:01 AM

In the United States, workers from India comprise the largest number of H-1B professionals.

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Topics: EB-5, H-1B, H1-B, Immigration, InvestorVisa, Visa, USVisa

The Might of the US Dollar

Posted by USFC Team on Oct 1, 2018 6:46:13 AM
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Topics: Dollar, Rupee, Exchangerate, USD, INR, Investment

How is the Rupee slump affecting you?

Posted by USFC Team on Sep 17, 2018 6:03:21 AM

In recent weeks, the Indian rupee has seen unsurpassed volatility, influenced by higher oil prices and massive movements in other emerging market currencies. Factors such as the widening trade deficit, increased demand for the dollar, and a plunge in the Turkish lira have brought the rupee to a historical low.

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Topics: INR, Rupee, Exchangerate, USD, Dollar

The H1-B Story: From Immigration Dream to Nightmare

Posted by USFC Team on Sep 17, 2018 1:33:39 AM

In the United States, workers from India comprise the largest number of H-1B professionals. For decades, the “American Dream” has been the aspiration for thousands of Indians. Whether it’s a young Indian student looking for an innovative job, or a newly-wed couple keen to find a better quality of life, the U.S. has become a relocation hotbed for many Indians.

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Topics: H1-B, EB-5, Immigration, InvestorVisa, GoldenVisa, Visa, Migration

Dallas-Fort Worth economy remains strong & continues to grow!

Posted by USFC Team on Jul 31, 2018 1:32:01 AM

The Dallas–Fort Worth economy continues to expand. The June jobs report indicated employment growth moderated, with DFW adding jobs at the slowest pace so far this year. Overall, the DFW economy remains strong, with 3.2 percent annualized job growth year to date. The unemployment rate ticked up in Fort Worth but remained flat in Dallas. Business-cycle indexes for both metros pointed to continued expansion. Home sales growth has been essentially flat in the first half of 2018, and inventory has ticked up but remains tight.

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Topics: Dallas, Texas, economy, Employment

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