Industry Spotlight RELOCATION
has since become one of the state’s most
competitive tools to recruit and bolster
business. To date, the TEF has invested more
than $435 million, and has generated nearly
60,000 new jobs and more than $14 billion
in capital investment in the state.
Businesses are also attracted to Texas
because it’s known for having one of the
10 lowest tax rates in the country –
corporate taxes are kept low, while personal
income taxes are nonexistent. Texas also
has no state taxes on property used for
pollution control, on goods in transit, or on
manufacturing machinery and equipment.
As a right-to-work state, Texas also boasts
relatively light regulation policies and large
financial incentives, along with strict laws
regarding labor union power.
Ease of Location
In addition to the financial benefits that
come along with moving to North Texas, the
area’s infrastructure and centralized location
are other important factors that contribute
to a favorable business environment.
“We looked at Washington, D.C.,
Chicago, London and Houston,” said Keith
Stephens, senior media director at Fluor
Corporation. In 2006, Fluor relocated its
headquarters from southern California to
Irving after its then-current business climate
had proven to be less than beneficial for the
company’s bottom line. After realizing the
healthy business environment found in
North Texas and the perks that came along
with it, like its centralized location, Fluor
made the move.
“We wanted to be close to clients, first
and foremost, and also close to the financial
markets and government centers,” added
Stephens, who said the company also
wanted to be closer to its customers in the
oil, energy and chemical sectors. “When
traveling from California, it took almost a
day. So one deciding factor was DFW
Airport – we could fly almost anywhere
without a connection. There were a lot of
reasons that played into it, but the airport
was really one that helped seal the deal.”
Holly Reed, executive director of
External Affairs at AT&T agrees. “We
needed to be able to move our people
throughout the country and internationally,”
she said. “When we moved to San Antonio,
we were a five-state operation that had
investments in Mexico. Today, we’re a
global company and we need to be able to
get our folks where they need to be as
quickly as possible.”
AT&T relocated its headquarters from
San Antonio in 2008, and as a growing
company with customers across the globe,
being headquartered in North Texas,
according to Reed, has helped them operate
more efficiently, better serve clients and
broaden its global reach.
Cowboys Stadium in Arlington, home of the Dallas Cowboys and
Super Bowl XLV, at night. Photo by James Smith/Dallas Cowboys.
42 North Texas Magazine
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