Jacobs Engineering Group, one of the world’s largest engineering companies, is preparing to move employees from its Pasadena headquarters to Dallas, becoming the latest major corporation to relocate significant operations from California to Texas.I'm sure there's nothing to worry about, as that's what Crazy Ole Uncle Jerry tells us.
The Fortune 500 firm, founded in Pasadena more than half a century ago, already has 300 employees in downtown Dallas and is weighing a more significant relocation. Mendi Head, a spokeswoman for the firm, confirmed the plans in an interview Monday...
“It should concern everyone in the community. The kind of jobs Jacobs Engineering provides, especially at the corporate level, are exactly the type of jobs we want in our community,” said Gary Toebbin, president of the Los Angeles Area Chamber of Commerce. Professional services have been a bright spot for California, generating outsize job growth in recent years.
The engineering giant isn’t alone. Jamba Juice said last month that it would move operations from Emeryville, Calif., to Frisco, Texas, and in 2014, Toyota announced a relocation of its headquarters from Torrance to Plano, Texas.
Jacobs did not say why it is eyeing Texas, or how many employees would leave. Toyota and Jamba Juice both cited the expense of California real estate as a motivation. Texas has no personal income tax as well.
“No doubt there is a trend. Texas has been the number one destination every year for the last eight years for California companies,” said Joe Vranich, the owner of Spectrum Location Solutions, a consultant for companies considering cross-state moves.
In January, Vranich released a study showing that 1,669 companies had left California since 2007, with Texas receiving the largest number. He estimates that many more companies actually departed, but the moves weren’t publicly reported.
Wednesday, June 08, 2016
Another One Bites The Dust
Will there be any companies left in California to provide $15/hr jobs?