Dear Dallas

[progressiveboy]

More accolades for Dallas. The only question is if this happens, who would move from beautiful San Diego with perfect weather to the plains of Texas?




California tech firm could relocate up to 1,000 jobs to Dallas in biggest move since Comerica | Dallas Morning News

[JoninATX]

People who want to be employed by there company. Lots of California businesses have moved to the Lone Star state. Most of them seem to like it even during the brutal hot summers. Btw Dallas is a mecca area for California transplants.

[progressiveboy]

Dallas to gain "US Headquarters" for Toyota! What a "catch" with 4,000 new jobs. This is a corporate relocation from California. Looking to locate in Plano, a upscale suburb of Dallas.



Toyota moving U.S. base from California to Texas | News OK

[ou48A]

Texas has a far friendly business environment than California.
In the long run the move will be profitable for Toyota and for those individuals who make the move.

California has very serious long term problems.

[HangryHippo]

Dallas to gain "US Headquarters" for Toyota! What a "catch" with 4,000 new jobs. This is a corporate relocation from California. Looking to locate in Plano, a upscale suburb of Dallas.



Toyota moving U.S. base from California to Texas | News OK

Damn, that's a good catch for Texas. They are gaining new employers like they're growing on trees.

[onthestrip]

Texas has a far friendly business environment than California.
In the long run the move will be profitable for Toyota and for those individuals who make the move.

California has very serious long term problems.

While CA probably takes the cake for most expensive place to do business Im not sure what long term problems you are talking about. They did have a multi-billion dollar surplus last year. They have some debt but they must not be doing that bad.

[PWitty]

I don't personally know much about California's fiscal shape, but every article I have seen for quite awhile has had California in the bottom five if not dead last when they rank the states against each other. These are just the first two that popped up on Google. I've heard that California is improving, but I suppose it takes more than one year of a budget surplus to right the ship.

Ranking of States by Fiscal Position

The Best and Worst Run States in America

[Snowman]

While CA probably takes the cake for most expensive place to do business Im not sure what long term problems you are talking about. They did have a multi-billion dollar surplus last year. They have some debt but they must not be doing that bad.

One of their hardest things is going to be can they keep being bailed out by new industries spinning up or stem the long bleed of companies relocating. The aviation and defense manufactures migrated several decades ago, fortunately for the state those corporate campuses fit well for the start up that had grown near that time semi conductor manufactures and computer OEMs (most have moved or scaled back what is done in California), largely replaced by major software companies (some are still their, some have left), expanding from that has been internet companies.

[Rover]

Cal has the highest bus tax burden of all states and DC

[bluedogok]

Public pension obligations are what is going to do in California, it is pretty bad when Jerry Brown seems to be one of the "most reasonable" and "responsible" politicians in the state now. He is one of the few who publicly acknowledge the looming problem.

City Journal - California

[BG918]

Silicon Valley is still the center for technological innovation for the entire WORLD, and that isn't changing anytime soon. California has its problems but is still one of key drivers of the American economy.

[Just the facts]

Public pension obligations are what is going to do in California, it is pretty bad when Jerry Brown seems to be one of the "most reasonable" and "responsible" politicians in the state now. He is one of the few who publicly acknowledge the looming problem.

City Journal - California

That problem is not unique to California though. The unfunded portion of Oklahoma's teacher pension is larger that the entire Oklahoma state budget. The Oklahoma legislature should have fun trying to figure that one out. It makes the AICC funding issue seem like childs play.

The Shortfalls of Oklahoma's Defined Benefit Public Pension Plans > Publications > State Budget Solutions

[ou48A]

While CA probably takes the cake for most expensive place to do business Im not sure what long term problems you are talking about. They did have a multi-billion dollar surplus last year. They have some debt but they must not be doing that bad.

A multi-billion dollar surplus is not a very significant factor in major business relocation’s.

In both 2012 and 2013, Texas was ranked the best state for business in a survey conducted by Chief Executive.
California was ranked 50th.

Things like “Taxations & Regulations, Workforce, Quality Living Environment” are far more important to high quality jobs.
This trend of good jobs leaving California has been going on for several years. Things like this don't normally change very quickly.

This is just one place where we can see the real world cost and impact of the numerous excessive California laws and regulations that has caused a flow of wealth and many high end jobs to leave California.

Report: Toyota Says 'Later' To California, 'Howdy' To Texas | The Daily Caller

Occidental Petroleum (OXY) recently announced they were moving it's headquarters out of L. A. to Houston with 6000 jobs.
These are more high quality jobs packing up and leaving California.
Nissan moved thousands of jobs out of California in 2005

[ou48A]

Silicon Valley is still the center for technological innovation for the entire WORLD, and that isn't changing anytime soon. California has its problems but is still one of key drivers of the American economy.

As more corporations relocate they will either take or eventually take all or parts of their research and development staff with them..... California will need to adapt soon or they will increasingly lose major elements of their “technological innovation” ability. Without big change, increasingly California will lose it's desirability as a place to live and over 20 or so years many high skilled people will want out.

Right now Texas is just one place getting great California jobs

[progressiveboy]

As more corporations relocate they will either take or eventually take all or parts of their research and development staff with them..... California will need to adapt soon or they will increasingly lose major elements of their “technological innovation” ability. Without big change, increasingly California will lose it's desirability as a place to live and over 20 or so years many high skilled people will want out.

Right now Texas is just one place getting great California jobs

According to the Dallas Morning News, looks like Dallas possibly gain another California company. Why can't Oklahoma gain some of these "white" collar jobs? Oklahoma to heavily dependent on the oil industry. Another boom and bust cycle for OK.





Real estate brokers buzz about possible office move by San Francisco-based Charles Schwab | Dallas Morning News

[HangryHippo]

According to the Dallas Morning News, looks like Dallas possibly gain another California company. Why can't Oklahoma gain some of these "white" collar jobs? Oklahoma to heavily dependent on the oil industry. Another boom and bust cycle for OK.

I wonder that myself. Dallas seems to be raking in white collar jobs in massive numbers, but OKC doesn't benefit nearly as much when these huge relocations happen.

[bchris02]

According to the Dallas Morning News, looks like Dallas possibly gain another California company. Why can't Oklahoma gain some of these "white" collar jobs? Oklahoma to heavily dependent on the oil industry. Another boom and bust cycle for OK.





Real estate brokers buzz about possible office move by San Francisco-based Charles Schwab | Dallas Morning News

In my opinion, there are a few reasons.

1. Momentum - OKC's momentum isn't very impressive when compared to almost any Texas city
2. DFW's airport
3. DFW's massive educated talent pool - like it or not there is still brain drain out of Oklahoma and OKC

[BG918]

Interesting about Charles Schwab. The company I work for does a lot of work for them, and they are in the process of completing a huge new campus for 2,500 employees in Lone Tree, CO. We have been hearing about an even bigger campus in Austin that is in the works, but nothing about Dallas.

[ou48A]

According to the Dallas Morning News, looks like Dallas possibly gain another California company. Why can't Oklahoma gain some of these "white" collar jobs? Oklahoma to heavily dependent on the oil industry. Another boom and bust cycle for OK.





Real estate brokers buzz about possible office move by San Francisco-based Charles Schwab | Dallas Morning News

Why?

It's because our business model isn't near as business friendly and we are not nearly as aggressive with incentives... particularly at the local levels.
We have far too many people too worried about the fairness of corporate handouts when the rest of the competitive world does far more of this....As a result our growth, diversity and prosperity lags behind where it needs to be.

In places like Norman that do have a lot to offer they don't do nearly enough locally to attract the very high end jobs in the numbers that are needed to redevelop the community in ways that many want.

Get the jobs right (very high end)................ and most of the other stuff will follow on its own... As always, follow the money!

[bluedogok]

Interesting about Charles Schwab. The company I work for does a lot of work for them, and they are in the process of completing a huge new campus for 2,500 employees in Lone Tree, CO. We have been hearing about an even bigger campus in Austin that is in the works, but nothing about Dallas.

The company that I worked for in Austin used to do a bunch of Schwab offices (not the major back end type) and I think Charles Schwab may even have a residence in Austin.

I also don't think there will be a 1980's type bust in the future, there is just so much more world demand for oil and gas than there was 30 years ago. There will always be peaks and valleys but a total collapse is unlikely and if it does there will be much more than the just the energy industry in energy states affected.

[adaniel]

I wonder that myself. Dallas seems to be raking in white collar jobs in massive numbers, but OKC doesn't benefit nearly as much when these huge relocations happen.

I'm a bit confused by this statement. OKC doesn't need "big" relocations because we have a smaller population. Boeing moving 1,000 people from Long Beach and Wichita has a greater effect on our economy than Toyota moving 4,000 since DFW is over 5x the size. And you can't just look at raw job numbers. Continental only moved 400 positions to this area but they were at an average salary of well over 100K. That's the same as 2,000 jobs moving to Dallas.

[soonerguru]

Why?

It's because our business model isn't near as business friendly and we are not nearly as aggressive with incentives... particularly at the local levels.
We have far too many people too worried about the fairness of corporate handouts when the rest of the competitive world does far more of this....As a result our growth, diversity and prosperity lags behind where it needs to be.

In places like Norman that do have a lot to offer they don't do nearly enough locally to attract the very high end jobs in the numbers that are needed to redevelop the community in ways that many want.

Get the jobs right (very high end)................ and most of the other stuff will follow on its own... As always, follow the money!

Talent pool. This state is not producing enough educated workforce. It doesn't even seem to value common or higher education. Also, transportation is lacking for a major international firm. Very few direct flights and mostly on second-rate, tiny jets. Texas actually charges hefty franchise taxes to businesses; they don't just give away the farm like our current overdorks are doing. Texas is bigger.

OKC is this state's only hope (and Tulsa to a lesser degree). Norman isn't even a factor. The rest of the state is turning into Mississippi.

[progressiveboy]

I'm a bit confused by this statement. OKC doesn't need "big" relocations because we have a smaller population. Boeing moving 1,000 people from Long Beach and Wichita has a greater effect on our economy than Toyota moving 4,000 since DFW is over 5x the size. And you can't just look at raw job numbers. Continental only moved 400 positions to this area but they were at an average salary of well over 100K. That's the same as 2,000 jobs moving to Dallas.

Sorry, disagree. OKC does need big relocations like Dallas because it will bring high salaries and educated people with lots of money. OKC needs residents with "high incomes" with lots of disposable income to have high end stores that OKC seems to covet. While Boeing and GE will have a small impact, looking long term OKC is just going to need to be more aggressive in attracting educated, "great" paying jobs. If Dallas can do it, then why can't OKC get some of these desireable , coveted HQ"s? OKC cannot rest on it's laurels!

[bchris02]

Sorry, disagree. OKC does need big relocations like Dallas because it will bring high salaries and educated people with lots of money. OKC needs residents with "high incomes" with lots of disposable income to have high end stores that OKC seems to covet. While Boeing and GE will have a small impact, looking long term OKC is just going to need to be more aggressive in attracting educated, "great" paying jobs. If Dallas can do it, then why can't OKC get some of these desireable , coveted HQ"s? OKC cannot rest on it's laurels!

I agree. Like I've said before though, OKC just isn't as attractive of a location for large companies to do business as DFW. The reasons for that ranges from the size of the airport to brain drain to the policies at 23rd and Lincoln. Question is what can be done about it and is Oklahoma willing to make the political decisions necessary to attract some of those companies.

[soonerguru]

I agree. Like I've said before though, OKC just isn't as attractive of a location for large companies to do business as DFW. The reasons for that ranges from the size of the airport to brain drain to the policies at 23rd and Lincoln. Question is what can be done about it and is Oklahoma willing to make the political decisions necessary to attract some of those companies.

This has stopped. It's not that we're losing lots of smart people, it's just that we need to recruit more -- or educate more of our people to create more of them.

OKC is a far more attractive place for smart people to live than it used to be, but the idiocracy running our state and demanding media attention (Fallin, Inhofe, Kern, etc.) substantiate negative stereotypes about our state and do not make our state an attractive place to relocate for smart people.