Monthly Archives May 2021

Decline in COVID Prompting Spike in Company Relocations

A new report in the Dallas Business Journal quotes yours truly as saying, “The interest in relocating seems to be exploding at this point.” Writer Brian Womack asks, “Why the overall interest by companies in looking elsewhere? [Joe] Vranich pointed out that some relocation planning might have been put on hold during the worst of COVID-19 because of so many uncertainties. Now that the country is opening up, some of those efforts could be moving forward.” The story revolves around an apparent increase in companies moving to the Dallas-Fort Worth Metroplex not just from California but from the Northeast. “At
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Dun & Bradstreet Moving NJ Headquarters to Florida; Pennsylvania Jobs to India

Dun & Bradstreet, an international company that provides 23 million businesses worldwide with commercial data, announced plans May 20 to relocate its corporate headquarters from Short Hills, New Jersey to Jacksonville, Florida. The move will bring 500 jobs to the city and a $75 million investment in the next five years. Anthony Jabbour, who serves as Black Knight CEO, a Jacksonville-based investor group, and also leads Dun & Bradstreet, said the choice to move was a strategic investment to grow the company. “Jacksonville is an attractive market to recruit and retain future, diverse talent and we look forward to building
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Two More Companies Move HQs Out of California

Yesterday I posted details regarding 15 companies that moved their HQs out of California and other business-unfriendly states, which were discovered in just a one-month period. Today, we see two more announcements about headquarters leaving the formerly Golden State. DARVIS, which stands for Data Analytic Real-World Visual Intelligence System, will move its headquarters from San Francisco to Nashville, Tennessee effective in June. Joel Stinnett reports in the Nashville Business Journal that the company uses artificial intelligence to automate procedures in the health care industry. See (subscription required) San Francisco-based health-tech startup DARVIS to relocate HQ to Nashville. The Mutual UFO
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What do Governors Gavin Newsom, Andrew Cuomo, J.B. Pritzker and Phil Murphy Have in Common?

Answer: Each runs a state whose hostility to business is entrenched, so much so that they continue to lose companies that move to friendly states. Not one of those Governors has the common sense to end their state’s short-sighted policies, nor will any take the blame for companies leaving their states. Think of it. When have you ever heard of one of those Governors argue to ease business burdens such as excessive taxation and punitive regulations? All of their states – California, New York, Illinois and New Jersey– continue to lose companies that move their headquarters, back offices, factories and
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CEO Magazine: Texas, Florida Best States for Business; California, New York, Illinois the Worst

The following is from the Spring 2021 edition of Chief Executive magazine regarding their 2021 “The Best and Worst States for Business” …  While the top (Texas, Florida) and the bottom (just guess) of our annual rankings remain unchanged, what has changed are the stakes, with a growing number of CEOs we polled open to a post-Covid change of locale. Governors, take note. DESPITE A GLOBAL PANDEMIC, near-economic collapse, civic unrest, just-plain-insane election cycle and everything in between during this crazy Covid year, when it comes to the places CEOs like to do business, the old saw is true: The
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