The Texas Two-Step
Choreographing business success in Dallas-Fort Worth
Since 2010, more than 280 corporate headquarters have relocated to the Dallas-Fort Worth area, alongside numerous others that have expanded their operations here.
Of course, not every company begins its tenure with big splash. Often, a small presence grows through the years, the benefactor of pro-business policies and a strong economy. Some companies relocate to North Texas following an acquisition, many expand significant operations here even bigger, while others grow by tapping into the region’s established industry clusters.
That’s what we call the Texas Two-Step. Success building on success.
The companies that choose Dallas-Fort Worth — like Verily, Caterpillar, Jacobs, Toyota, McKesson — are leaders in their industries, and innovative thinkers. Drawn by a favorable business climate, a highly skilled local workforce, and great quality of life, these additions have created the industry diversity that powers today’s local economy.
Why Companies Like Dallas-Fort Worth
Regional prosperity and a strong economy:
- Industry diversity with a track record for attracting international investment;
- Move-in ready corporate real estate options, and room to grow — supported by traditional and digital infrastructure;
- Opportunities for collaboration across-industries and 100+ communities;
- Concentration of high value manufactured goods and professional services;
- No personal income tax statewide; Texas named the ‘best state for business’ for 20 consecutive years;
Low unemployment and a strong talent pipeline:
- Quality educational system from kindergarten through post-secondary — more than 97-thousand Bachelor’s, Master’s, and PhD degrees were awarded by North Texas public and private universities in 2023;
- 400+ new residents per day creates a big — and growing — footprint;
Quality of life that helps recruiting:
- Relative affordability and regional amenities like two airports and world-class healthcare — plus a diverse population;
- Central North American location between Mexico City, Toronto, and the middle of the United States with transportation and shipping options by air, highway, and rail;
Business Two-Steps to Success
While every business journey to Dallas-Fort Worth is filled with unique details, there is a common thread: companies find success here and want to build on it, whether that means an HQ or large operations.
The following are examples of 19 companies that have two-stepped their way to prosperity. We highlight their journeys through growth, expansion, and establishing headquarters. Take a look and see how your company might benefit from tapping into this ecosystem too.
Two-Step: Acquisition then Headquarters
Left to right: CBRE Group headquarters and Jacobs headquarters, both in downtown Dallas; Charles Schwab headquarters in Westlake.
AMN Healthcare
“By providing pathways to better health, through wellness programs, emotional and family support and other channels, employers can enhance employee satisfaction and retention. In the larger contest of the healthcare system, better employee health, with an emphasis on prevention, also reduces utilization of expensive, interventional services and thereby reduces overall costs.”
–CEO Cary Grace (D Magazine, 2014)
AMN Healthcare is a $4 billion dollar company. It entered Dallas-Fort Worth in 2005 after acquiring Irving-based MHA Group, and established its second headquarters in 2017.
In 2023, AMN expanded again, buying MSDR, a company specializing in the recruitment and placement of psychiatrists, anesthesiologist, radiologists, and surgeons.
AMN is now the largest health care staffing company in the nation and believes its location in Cypress Waters has been a key growth driver. The original HQ is in San Diego.
Jacob’s Engineering Group
“As we continue to focus on transforming our business in terms of efficiency and high-growth in the engineering and constructuion industry, our new headquarter location ensures access to top talken and postiions Jacobs for convenient access to our clients.”
— Former Chairman and CEO Steven Demetriou (Dallas Morning News, 2016)
Jacobs had a small presence in North Texas, beginning in 1987 and got bigger after acquiring Fort Worth-based Carter & Burgess Engineering Group in 2007. In 2016, it moved its headquarters from California, where it was founded.
Jacobs is one of the world’s largest and most diverse providers of full-spectrum technical, professional and construction services for industrial, commercial and government organizations globally.
Today, the company employees 50,000 people and operates in more than 30 countries. Roughly one thousand of those employees are based in Dallas-Fort Worth.
Charles Schwab
“Schwab’s announcement solidifies that notion that Westlake is in fact the financial hub of DFW and perhaps the entire country … We are incredibly thankful to be as the center of this seismic marriage between two financial giants.”
— Westlake Town Manager, Amanda DeGan (Dallas Innovates, 2019)
AMN Healthcare is a $4 billion dollar company. It entered Dallas-Fort Worth in 2005 after acquiring Irving-based MHA Group, and established its second headquarters in 2017.
In 2023, AMN expanded again, buying MSDR, a company specializing in the recruitment and placement of psychiatrists, anesthesiologist, radiologists, and surgeons.
AMN is now the largest health care staffing company in the nation and believes its location in Cypress Waters has been a key growth driver. The original HQ is in San Diego.
CBRE Group
“Dallas has lots of things, including lots of companies. We want Dallas to have a commercial real estate company that the world never thought would have existed.”
–CEO and chair, Bob Sulentic (Dallas Morning News, 2024)
CBRE Grop first came to North Texas in 2006, when it acquired Dallas-based Trammell Crow, which is now a wholly owned subsidiary.
In 2020, the firm announced it was relocating its corportate headquarters from Los Angeles. And in 2013, it m moved its executive offices to he Park District building overlooking Klyde Warren park. Also in 2023, it launched Crow Holdings Renewables, which works with landowners and industrial property owners to uncover the benefits of switching to renewable energy, like solar.
For 12 consecutive years, most recently in 2015, CBRE Group received the World’s Most Ethical Companies recognition from Ethisphere, a global leader in defining and advancing the standards of ethical business practices.
Two-Step: Expansion then Headquarters
Left to right: Chairman and CEO of Verily, Stephen Gillett; Caterpillar; Hilti headquarters in Plano
Verily
“I said, let’s look at Boston, let’s look at Dallas, Raleigh-Durham … We put all of the office options inthe mix for consideration, and Dallas was the clear choice because of the strong business environment, not only from the Verily teams, but from Google.”
–Chairman and CEO, Steven Gillett (Cypress Waters grand opening, 2024)
CBRE Grop first came to North Texas in 2006, when it acquired Dallas-based Trammell Crow, which is now a wholly owned subsidiary.
In 2020, the firm announced it was relocating its corportate headquarters from Los Angeles. And in 2013, it m moved its executive offices to he Park District building overlooking Klyde Warren park. Also in 2023, it launched Crow Holdings Renewables, which works with landowners and industrial property owners to uncover the benefits of switching to renewable energy, like solar.
For 12 consecutive years, most recently in 2015, CBRE Group received the World’s Most Ethical Companies recognition from Ethisphere, a global leader in defining and advancing the standards of ethical business practices.
Caterpillar
“We believe it’s in the best strategic interest of the company to make this move, which supports Caterpillar’s strategy for profitable growth as we help our customers build a better, more sustainable world.”
–Chairman and CEO, Jim Umpleby (NBC Chicago, 2022)
In 2024, Caterpillar announced it was expanding its footprint in Irving — just two years after relocating its global headquarters from Deerfield, IL. The company is a leading manufacturer of construction and mining equipment, as well as off-highway diesel and natural gas engines, and diesel-electric locomotives.
Caterpillar has had a Texas presence since the 1960s and employes more than 1,000 people in Dallas-Fort Worth.
Hilti
“Moving the corporate headquarters to the Dallas Metroplex puts us in the middle of a top five construction market and gives us greater access to a much larger talent pool as we expand our business over the next decade.”
–Former Hilti North America President and CEO, Cary Evert (DMN, 2014)
Hilti landed in Dallas-Fort Worth in 2014, after deciding to relocate from its first North American headquarters in Tulsa. After an exhaustive search across 18 cities, the company picked Plano for its new home; it expanded in 2016, opening an in-house software development shop. It has also opened its Western Hemisphere Product Development and Tool Center facility in Irving.
McKesson
“Moving the corporate headquarters to the Dallas Metroplex puts us in the middle of a top five construction market and gives us greater access to a much larger talent pool as we expand our business over the next decade.”
–Brian S. Tyler, CEO (DRC Accolades, Economic Development Guide, 2024)
McKesson is a key part of the health and wellness supply chain, providing supplies, health information management tools, and one third of all pharmaceuticals used i North America. In 2016 the company consolidated operations in the Dallas metro and opened a regional office in Irving. Two years later McKesson decided to move its headquarters here.
The company employes employs 23 hundred people in Dallas-Fort Worth, and 51 thousand people across all locations. It was named “Best Place to Work for Disability Inclusion” for six consecutive years. It also earned 100 on the 2023 Disability Equality Index and was recognized by Forbes as one of “America’s Best Employers for Women.”
Ruiz Foods
“As a national business it is important that we can effectively and efficiently serve our customers and facilities. Being centrally located in a larger metropolitan market allows us same-day access to all of our facilities, puts us closer to our customers and provides us with greater access to talent for recruitment.”
–Kimberli Carroll, president and CEO (Ruiz Foods press release, 2024)
Ruiz Foods Products, Inc. — a manufacturer of frozen Mexican food — opened its 25 thousand square foot headquarters in Frisco, in March 2024. The family-owned company was founded in 1964, in California. It named the Frisco facility as a regional headquarters in 2022, and decided to make it the company’s sole headquarters in 2023.
As part of the economic incentives package, the city Frisco agreed to pay Ruiz Foods $250,000 over four years, and the company will employe more than 100 workers in Dallas-Fort Worth by August 2026.
Two-Step: Location spurs growth
Left to right: Schneider Electric integration facility in Red Oak; Liberty Mutual Regional Headquarters in Plano; Texas Instruments’ 300mm semiconductor wafer fab facility in Sherman
Siemens
“You have everything that you need to make it work here–plus two airports that make travel easy.”
–Homero Javalera, senior director of operations
With three plants in close proximity, DFW is Siemens’ largest manufacturing hub in North America.
For more than 160 years Siemens’ technology has been supporting the infrastructure and industries that form that backbone of the American economy. The company works across industries, including manufacturing, infrastructure, mobility, and healthcare. And since 1995, the Dallas-Fort Worth region has played a critical role.
In the mid-nineties the German company opened its first Grand Prairie facility, and subsequently added another plant, about seven miles down the road.
In 2025, the company expanded its North Texas footprint again, opening a $190 million facility in Fort Worth. It is expected to create 800 jobs by 2026. To meet the company’s goal of net-zero carbon emissions by 2030, the Fort Worth facility is carbon-neutral and aims to set the standard for sustainable manufacturing.
“The explosion of cloud computing, social media, and video streaming, requires exponentially more storage and processing,” said Homero Javalera, senior director of operations. “But increasing capacity and capabilities requires a lot of sophisticated buildings and data centers. That’s where we come in; we power those buildings.”
Siemens Digital Industries Software, which helps manufacturers speed time to market, is also globally headquartered in Plano.
StatLab
“McKinney is perfect for a medical supply company like ours. We have room to expand as we grow, and you can’t beat the location.”
— Sung-Dae Hong, StatLab CEO
StatLab Medical Products, a leading developer and manufacturer of diagnostic supplies and equipment, was founded in 1976 and moved global headquarters to McKinney from Lewisville in 2008.
Since then, it has grown with the region, adding a distribution center and an additional manufacturing plant in the DFW area. “Between access to transportation and talent, this has been a terrific spot for us to grow our business” said Dan Bickel, VP of Product Development and one of the original founders who established the business in the DFW area.
In 2021, the company expanded business operations with a 50,000-square-foot dedicated distribution facility in McKinney, tripling the amount of temperature-controlled and flammable storage space.
In 2022, Statlab acquired Wales-based CellPath Ltd. — a company with a long history of developing and manufacturing injection molded tissue cassettes. In DFW, this triggered an expansion, and in early 2024 StatLab opened a new, 35,000-square-foot histology consumable manufacturing facility in Arlington, Texas.
Along the way the company also acquired Germany-based, Knittel Glass. It also made further investments in its Arlington facility to include glass slide manufacturing and blow molding for bottles.
Vice president of Human Resources, LeAnn Collins notes, “We’ve added more than 60 local jobs over the past 4 years, with no plans to stop growing anytime soon. The fact that a local Dallas-area regional distribution business could grow into one of the top global players in the anatomic pathology market is a testament to the ingenuity and determination of the people who call Dallas their home. We’re grateful to be here.”
Texas Instruments
“If you have an electronic device, you almost certainly have a TI semiconductor chip inside of it. So we have 80,000 products that ship out to 100,000 different customers.”
— CFO, Kyle Flessner, SVP of Texas Instruments’ technology and manufacturing group (CNBC, 2023)
It’s easy to think of TI as a homegrown company, since it’s been here for 90+ years. But it’s roots can be traced back to Tulsa, Oklahoma, where it was known as the Geophysical Research Corporation. The founders moved the company to Dallas in 1930.
In 1951 the company name was changed to Texas Instruments, and it was listed on the New York Stock Exchange two years later. In 1958, an employee in Dallas named Jack Kilby invented the integrated circuit, commonly known as a ‘chip.’ Today it powers much of the technology we use daily.
TI has grown steadily over the years, and in 2025 it held a ribbon-cutting ceremony to mark the opening of its 300mm semiconductor fabrication plant in Sherman, about 50 miles north of Dallas.
Merck
“Merck is recognized as a leader in cancer research and shares our commitment to accelerating the development of candidates targeting HIF-2α to help patients with advanced cancers and other diseases.”
— Peloton CEO, John Josey (Dallas Innovates, 2019)
In 2019, Merck &Co. entered the market by acquiring Dallas-based Peloton Therapeutics just before it was set to go public. Now, five years later, Merck has a small location near DFW International airport, that focuses on animal medicine.
Peloton was founded by UT Southwestern Medical researchers. A clinical-stage oncology company, it developed small molecule drugs to treat kidney cancer and other diseases. The deal was valued at $2.2 billion.
Liberty Mutual
“After an extensive and rigorous review, we came to the indisputable conclusion that Plano is the place for Liberty to grow. Its welcoming business environment, beautiful neighborhoods, top-rated schools and talented people made it an obvious choice for us.”
— Former CEO, David Long (Liberty-Mutual press release, 2015)
Liberty Mutual moved into the market in 2017 when it opened its Plano facility–its first significant new campus outside the Northeast. The $325 million regional campus sits at the corner of Dallas North Tollway and Highway 121. Encompassing two 18-story towers at Legacy West, the location includes an on-site medical center, and two rooftop gardens. It has capacity for five thousand employees.
In 2019, the company and the city of Plano each contributed $1 million for a new accessible playground. The 20,000 square feet of play space includes 40 percent sensory play activities and 60 percent physical play structures.
In 2024, the company launched its practice for mid-sized companies in the life sciences sector.
Rudolph Foods
“We have a new major plant expansion in Dallas that we’re really excited about. I think one of the trends that you’re going to see is a continuous exploration of the world’s flavors. Maybe Moroccan, North African flavors. I think we’re going to see more hot honey. I think it’s a great time to explore flavors.”
— Mark Singleton, VP of sales and marketing (2022)
Rudolph Foods was started in 1955 by John Rudolph who saw an untapped market for pork rinds. But the company didn’t come to Texas until the early 1990s, after acquiring a facility in Dallas. The company got a big boost when both President George H. W. Bush and later, President George W. Bush brought pork rinds to the Oval Office.
Rudolph remains a family-owned company with 11 plants in the U.S., Mexico, Brazil, and Denmark. One of the largest is in Dallas where it produces 15 million pounds of pork rinds per year.
Verizon Communications, Inc.
“We’re putting the pieces together to create an incubator space for small developers and small business to work with Verizon to create technologies that will ride on the new 5G technology.”
— Realty Vice President, James Tousignant (Dallas Innovates, 2018)
Verizon was created in 1998, when New York City-based Bell Atlantic Corporation merged with GTE, which was in the process of relocating its headquarters from Stamford, Connecticut to Irving.
Verizon is still based in New York, but over the years, the company added more than two million square feet to existing buildings in Hidden Ridge, at a cost of $1 billion. It opened the expanded North Texas operations in 2023. In 2024, Verizon acquired Dallas-based internet provider Frontier Communications
Schneider Electric
“From digitizing and electrifying processes to providing critical infrastructure—the software and technology needed to transition from fossil fuels to electricity—we’re helping customers build a new energy future with innovative and cost-effective solutions.”
— SVP and CEO Joshua Dickinson (Dallas Innovates, 2022)
Based in France, with a Dallas presence for more than 50 years, Schneider Electric is a global leader in the digital transformation of energy management and automation.
In 2024, Schneider and Compass Datacenters opened a state-of-the-art, 105,000-square-foot facility in Red Oak. It builds prefabricated modular infrastructure for U.S. customers. The companies announced plans for the facility in 2023, when they also announced an extension of their relationship.
In 2021, Schneider signed a $10 million contract with the UNT Health Science Center at Fort Worth to support current and future research programs.
Two-Step: Expanding in an Industry Cluster
Left to right: Fidelity’s Westlake Campus; Wells Fargo’s 22-acre campus in Las Colinas; Goldman Sachs groundbreaking in Downtown Dallas with Hunt Consolidated Inc. Executive Chair, Ray L. Hunt, Hunt Realty Investments CEO, Kris Kleinert, Dallas Mayor Eric Johnson, Goldman Sachs President and COO, John Waldron, and Hillwood Chairman Ross Perot, Jr.
Goldman Sachs
“This region continues to be a hub for talent, innovation and opportunity. It is this incredible promise that binds Goldman Sachs to the area and is driving us to expand our presence in Texas. ” — COO, John Waldron (DMN, 2023)
Goldman Sachs has called Dallas home since 1968, making moves to both streamline operations and expand its base. The company continues to invest in the region and strives to be an environmentally responsible employer.
In 2018, Goldman Sachs consolidated its North Texas operations, moving more than 1,000 employees to its current downtown office.
In 2023, Goldman Sachs broke ground on its new campus. Centrally located downtown, it is expected to be complete in 2027 and is aiming for both LEED and WELL certifications. It will have capacity for more than 5,000 employees.
Wells Fargo
“We’re thrilled to have a new state-of-the-art campus where we can bring the majority of our local workforce together for an even better employee experience, which prioritizes wellness and sustainability.”
— Head of auto, Tanya Sanders (Dallas Innovates, 2024)
Wells Fargo has a long history in Dallas, and has grown over the years. In 2022 it decided to consolidate multiple offices into one facility, made up of two buildings, overlooking Lake Carolyn in Irving. It’s expected to open at the end of 2025.
In addition to on-site gyms with wellness classes, it’s also expected to have walking and bicycle trails nearby as well as opportunities to stand-up paddle board, cycle, and play golf.
The campus will pursue a LEED Platinum certification and is expected to generate more energy than it consumes through use of solar panels, electric vehicle charging stations, and indoor vegetation.
Fidelity
“We take a long-term view to investing in our overall workforce and our people, just as we do in our businesses. We encourage our associates to ask, ‘What’s next?’. And the Dallas market has one of the best talent pipelines we’ve ever seen.”
— Head of talent acquisition, Kirsten Kuykendoll (Dallas Innovates, 2023)
Fidelity has become a staple of the Dallas-Fort Worth business community, growing steadily through the years. A major local employer, Fidelity has a 337-acre campus in Westlake, which employs more than 6,000 people.
The Boston-based firm started with just 50 employees — the result of a legendary snowstorm up north. While it might have been the blizzard of ’78 that led to initial investment in Dallas-Fort Worth, Fidelity has consistently looked to expand and grow. In 2011, the Westlake campus received a $4 million dollar Texas Enterprise Fund grant and a 50% rebate on sales tax in return for $200 million dollar capital investment and 850 new jobs.
In 2020 the firm added 300 financial analysts and 500 customer-facing jobs.
Dallas Regional Chamber Economic Development Services
Serving as the region’s voice of business, the Dallas Regional Chamber champions economic growth and prosperity across Dallas-Fort Worth. The DRC’s economic development team serves as a single point of contact for companies, site selection consultants, and corporate real estate executives examining the region. For more information on how DFW can further your company’s success, connect with our team below.
Mike Rosa
Senior Vice President
214.746.6735
mrosa@dallaschamber.org
Kevin Shatley
Vice-President
214.746.6641
kshatley@dallaschamber.org
Kelly Cloud
Vice-President, Life Sciences
214.746.6749
kcloud@dallaschamber.org
Elizabeth Koestler
Vice-President
214.746.6730
ekoestler@dallaschamber.org
Ruth Liu
Coordinator
214.746.6642
rliu@dallaschamber.org