When Charles Schwab recently announced its $26 billion mega-merger with TD Ameritrade, the company also announced that it will be relocating the massive company’s headquarters from San Francisco to North Texas.
And, as The Dallas Morning News noted this weekend,Schwab isn’t the only Fortune 500 company to leave California for Texas in the past decade. However, up to now, these major relocations have been to major hubs like Houston, Austin and Dallas.
Many companies are looking to what they see as pro-business policies in Texas, combined with low taxes and fiscal restraint. Still, it remains to be seen if West Texas cities like Amarillo will be able to mimic the relocation successes of the state’s bigger cities, by touting such additional benefits as low commute times and lower cost of living.
Indeed, according to INC Magazine, when compared with midsize cities like Amarill, costs in bigger cities are:
- 23 percent higher for costs and access
- 19 percent higher for overall costs
- 16 percent higher over a general business index
- 13 percent higher for environment
- 10 percent higher for lifestyle.