Company location is an important part of a company’s identity, and can play a role in the perception of its customers and investors. For the location that is losing a corporate headquarters, the company may have been an integral part in helping grow an emerging cluster and relocating could impact continued cluster success.
Conversely, if a company is in need of repositioning or rebranding, a corporate headquarters move could be just the thing to help the business chart a new future. Strategic issues generally are the drivers of analysis leading to relocation. Singular issues, or a combination of many, may be at play.
These could include the need to reduce short- and long-term operating costs or selling real estate assets to raise needed capital to deploy in higher priority ways, or a need for expansion capacity and/or the ability to enhance hiring opportunities of a changing workforce. And then there’s the “millennial” factor: increasingly, people entering the workforce want to work where they want to live, and for a lot of millennials that’s a 24/7 location, like the ultra-hip Deep Ellum neighborhood that Uber selected for its new U.S. administrative hub (okay, technically not an HQ, but you get the point).
Locations that have been successful in attracting corporate HQ have responded to these needs. Here are three HQ magnets that have passed this test.
IRVING-LAS COLINAS: WHERE COMPANIES CAN HAVE IT ALL
For companies searching for a home where they can have it all, look no further than Irving-Las Colinas. Centrally located in the Dallas-Fort Worth Metroplex, Irving-Las Colinas is known as the “Headquarters of Headquarters” with more Fortune 1000 global headquarters per capita than any other city with a population of more than 2,000 in Texas—and all for good reason.
Whether companies are looking for high-quality housing and lifestyle options for their teams, an educated and diverse talent pool, a central location with global access within 10 minutes or business-friendly incentives, Irving-Las Colinas has it all.
“Our people like Texas, and Las Colinas is attractive for them because we travel so much, so being close to DFW is a great option,” said Alvaro Luque, president and CEO of Avocados from Mexico, which is headquartered in Irving-Las Colinas. “Also, with all the options that you have in restaurants and entertainment, you can find everything that you need here in the city, and that’s a great advantage for anyone that wants to live or work here in Irving, Las Colinas.” This year, Avocados from Mexico was recognized as one of Fast Company’s “World’s 50 Most Innovative Companies.”
Irving-Las Colinas offers employers the opportunity to provide their teams at-work flexibility that few cities in the region can—the time-honoring lifestyle known as the “10-Minute Life.” The phrase describes an idyllic lifestyle where all the necessities and amenities of life are literally within a 10-minute transit timespan. One can travel to the office or the store, dine at eclectic and diverse restaurants, reach miles of hiking and biking trails, pick up students from school, go to a live concert or get to two major airports—all within 10 minutes. Access to this way of life helps companies in Irving-Las Colinas move beyond the standard benefits and offer employees an array of work-life balance amenities, all within easy reach.
Earlier this year, CHRISTUS Health, an international Catholic, faith-based health system with more than 600 facilities, announced that it would relocate and expand its headquarters within Irving with the construction of a 400,000+-square-foot building. The new location will be within walking distance of more than 20 restaurants, several hotels, the city’s newest entertainment venue, the Toyota Music Factory, and multiple lifestyle housing options. State Bank of Texas also recently announced the relocation of its headquarters to Irving-Las Colinas, and will develop a 47,000-square-foot building adjacent to the CHRISTUS property.
“Irving, the chamber and the economic development partnership have been very supportive,” said Ernie Sadau, CEO of CHRISTUS. “They took a leap of faith on us nine years ago and they’re working with us again to stay in the area. When we see that and the quality of life that this area can provide, it makes us believe that we’ve made the right decision.”
Read the full story at Business Facilities.