Cushman & Wakefield- Sponsor of the Pulse Blog

Corporate Headquarters Are On the Move

Jul 5, 2023

Florida, Texas, and Arizona are among the states increasing the number of corporate headquarters that are based there, according to a  new study from Hire A Helper based on Securities and Exchange Commission findings that was reported in the World Property Journal

“About 9% of corporations in the United States moved their headquarters within the past fiscal year — the highest percentage since 2017,” the article reported…”States like New York and cities like Seattle are seeing corporate headquarters move away, while smaller cities outside large urban centers are becoming new homes to big companies in tech and pharmaceuticals.”

According to the article: “Florida had 86% more corporations move their HQ there, compared to the number of companies that chose to move their head office out of Florida — the highest net gain of any state…Texas, the state that in the last year has officially moved their welcomed Hewlett-Packard and Caterpillar Inc, among other companies, saw the second highest net gain (71%). Two other states had notably strong showings, Arizona (+65%) and Utah (+57%), both saw very impressive growth in the number of HQs of America’s corporations they now host. ..The state that corporations were most likely to abandon was, surprisingly, Washington, with 83% more companies leaving it than moving in. Notable departures include media company Arena Group, and Clearsign Technologies, a developer of emission control solutions. New York (-51%) and California (-46%) aren’t far behind Washington, ranking second and third among the states that lost the most corporate HQs, respectively.”

David Harrison