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The red-state winners in the climb to become America’s next economic powerhouse
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A corporate exodus is reshaping America’s business landscape — and deep-blue states are paying the price.
The stakes go far beyond bragging rights. Corporate headquarters bring high-paying jobs, investment and tax revenue; they also boost local economies and political influence.
According to a report by CBRE, one of the nation’s largest commercial real estate brokerage firms, 725 companies relocated their headquarters between 2018 and 2025. And the trend was clear — businesses increasingly left high-tax, heavily regulated Democrat-led states like California and New York for Republican states offering lower costs, lighter regulation and faster growth, like Texas and Florida.
AMERICANS KEEP MOVING TO TEXAS AND FLORIDA — BUT ONE OTHER RED STATE IS GROWING EVEN FASTER
Dallas recorded the highest number of corporate headquarters relocations in the country. (Beata Zawrzel/NurPhoto/Getty Images)
And as companies increasingly relocate to Republican-led states, politicians in blue states are facing growing scrutiny over whether progressive tax-and-regulation policies are driving employers away, weakening growth and eroding the tax bases of some of America’s longtime economic powerhouses.
The frequency of relocations accelerated in 2025, outpacing 2024 levels as companies looked beyond traditional coastal hubs for expansion opportunities. CBRE found the number of firms citing «growth opportunity» as the primary reason for relocating jumped nearly 47% from a year earlier.
Texas emerged as the biggest winner in the battle for corporate America.
Executives continue to reassess operating costs, tax burdens and workforce growth prospects while deciding where to invest for the future — and many landed on cities throughout the Lone Star State.
Dallas-Fort Worth captured more than any metro area in the country with 111 headquarters relocations between 2018 and 2025. Austin secured another 88 and Houston added 31 in that same seven-year span.
GOV. ABBOTT EXTENDS OFF-RAMP FOR NY BILLIONAIRES FLEEING MAMDANI’S POLICIES
Taken together, those three Texas markets accounted for more headquarters gains than many states in their entirety.
Florida, especially Miami, has also emerged as a major beneficiary of the corporate relocation wave. Over the past year, six companies moved operations to Miami from high-cost hubs including Los Angeles, the Bay Area and Boston, drawn by Florida’s lower taxes, growing tech scene and access to East Coast markets.
Companies told CBRE that Miami’s fast-growing startup culture and expanding pool of finance and tech talent make it an increasingly attractive destination, while international firms are also flocking to South Florida for its strong travel, tourism and beauty industries.
Meanwhile, deep blue California experienced the steepest losses.
CALIFORNIA’S LOOMING CAPITAL FLIGHT PROBLEM COULD RESHAPE STATE IN 3 KEY AREAS
California Gov. Gavin Newsom has previously said that he does not support the «billionaire tax» measure. The measure would levy a one-time 5% wealth tax on residents with more than $1 billion in assets, including unrealized gains. (Justin Sullivan/Getty Images)
The San Francisco Bay Area posted a net loss of 163 headquarters over the same period Texas saw its gains, according to the report.
CBRE said companies leaving California metros frequently cited high taxes, labor regulations and rising cost-of-living pressures as key reasons for relocating elsewhere.
MAMDANI’S RISE IN NYC MIRRORS ECONOMIC FLIGHT TO THE SOUTH, STUDY SHOWS
While traditional business powerhouses like New York and Chicago remain deeply entrenched in corporate America, there’s a broader debate over whether legacy cities can continue holding onto top employers and investment.
The New York City metro-area, which includes Newark and Jersey City, saw the second-highest number of departures with nine headquarters leaving for other states from 2024 to 2025. And the debate over increasingly progressive policies in the city has led to threats of more departures.
Citadel founder Ken Griffin, who relocated his hedge fund from Chicago to Miami in 2022, has repeatedly warned that rising taxes, crime and anti-business policies could drive more companies away from cities like Chicago and New York.
New York remains the nation’s largest corporate hub, home to 114 Fortune 1000 headquarters. The recent moves represent only a small slice of the region’s business base and resulted in a loss of about 5,200 jobs.
CHICAGO KNOWS WHAT HAPPENS WHEN KEN GRIFFIN TURNS ON A CITY — NOW MAMDANI MAY FIND OUT
The Citadel founder is clashing with New York City Mayor Zohran Mamdani over taxes targeting the ultra-wealthy and intensifying crime, reviving the same tensions that drove him to pull his business and billions out of Chicago. (Spencer Platt/Aaron Schwartz/Bloomberg/Getty Images / Getty Images)
The migration patterns are becoming increasingly politically significant.
Economic performance frequently shapes midterm messaging, and corporate relocations are poised to feature prominently in debates over tax competitiveness, regulation and the broader business climate.
The issue is drawing even more attention as Democrats in several blue states push billionaire taxes and other progressive policies that critics warn could drive more companies and wealthy residents out.
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Whether the trend endures remains uncertain.
But for now, the corporate migration is reinforcing a broader reality: Taxes, regulation and cost of living are no longer secondary political issues. They are increasingly determining where businesses invest, where jobs move and which states gain — or lose — economic power.
economy, politics, texas, california, republicans elections, taxes, companies
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Israeli Prime Minister Benjamin Netanyahu’s office is accusing New York City Mayor Zohran Mamdani of attacking the Jewish state to distract from his record in New York after calling Netanyahu a «war criminal.»
The prime minister’s office fired back Sunday after the Democratic mayor said his administration was exploring whether it could arrest the Israeli leader during an expected visit to the city under the International Criminal Court’s warrant.
«The ICC is a kangaroo court that has no jurisdiction over Americans or Israelis,» Netanyahu’s office wrote in an X post Sunday, amid recent reports he is nearing a trip to the White House to meet with President Donald Trump.
POTENTIAL 2028 DEM CONTENDER UNLOADS ON NETANYAHU, ADMITS US-ISRAEL TIES AT ‘CROSSROADS’
New York City Mayor Zohran Mamdani has threatened to enforce the International Criminal Court’s arrest warrant on Israeli Prime Minister Benjamin Netanyahu. (Getty Images)
«Its bogus arrest warrant against Prime Minister Netanyahu was issued by a disgraced former ICC Prosecutor, Karim Khan, a few days before allegations of sexual misconduct against him became public,» Netanyahu’s office said. «It was a clear attempt by Khan to divert public attention and seek protection from scrutiny.»
Mamdani is following the same playbook, the office added.
«Instead of backing Khan’s criminal behaviour, Mr. Mamdani should focus on fixing the damage his policies have caused New York,» the post concluded. «Like Karim Khan, Mamdani appears interested in diverting public attention from his follies and attacking the leader of the Jewish state and the only democracy in the Middle East.»
MAMDANI SPARKS FIERCE BACKLASH FOR WORLD CUP STUNT ‘PALLING AROUND’ WITH RIKERS ISLAND CONVICTS
Israel vowed to ignore the ICC warrant while it roots Hamas, «a genocidal terrorist organization ,» out of Gaza.
«Under Prime Minister Netanyahu’s leadership, Israel has taken unprecedented wartime measures to minimize harm to civilians while confronting Hamas, a genocidal terrorist organization that uses Palestinians as human shields and deliberately targets innocent Israeli civilians,» the office’s post read.
Former Secretary of State Mike Pompeo told Fox News’ «Fox & Friends Weekend» earlier Sunday that Mamdani is ostensibly hyperbolizing for «political theater.»
«This is a communist, antisemitic mayor trying to make news for his own audience,» Pompeo said. «There’s nothing more than that. This is no chance he’s going to arrest Prime Minister Netanyahu when he comes to New York in September for the U.N. General Assembly.
«It’s just simply not going to happen, and he knows it.»
Even some Democrats have rejected Mamdani’s stance, warning it could embolden terrorists at home and abroad.
«This isn’t a college protest,» former Democrat Mayor Eric Adams wrote on X. «This is the City of New York.»
«Threatening to arrest the democratically elected leader of one of America’s closest allies during U.N. General Assembly week isn’t bold. It’s reckless,» Adams continued. «American diplomats, service members, and officials are stationed in dangerous places around the world. Irresponsible rhetoric like this doesn’t stay in New York. It can put Americans at greater risk abroad. Leadership means understanding that your words have consequences. Reckless political theater can have very real-world costs.»
Sen. John Fetterman, D-Pa., has long broken with Democrats on becoming the «anti-Israel party,» telling the «clown» Mamdani to «sit down.»
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«It’s such a tough guy to say that kind of thing,» Fetterman told Fox News’ «Sunday Morning Futures.» «He has no way to do that, of course. Obviously, America is not even part of that corrupt court. And so he’s just a clown to even say that. So he won’t try that. Just sit down and focus on other the problems that they have in New York. That’s really not your purview. You and I know that. Sit down.»
israel, benjamin netanyahu, zohran mamdani, war with iran, geopolitics
INTERNACIONAL
Renunció uno de los políticos más poderosos de Alemania por tener un bebé por vientre de alquiler
El legislador Jens Spahn, uno de los políticos más prominentes de Alemania, debió renunciar a su puesto como jefe del grupo parlamentario oficialista, tras recibir duras críticas por haber tenido, junto a su esposo, un hijo mediante gestación subrogada en Estados Unidos, una práctica prohibida por la legislación germana.
El episodio en el que se ve involucrado el responsable del bloque integrado por la Unión Cristianodemócrata (CDU) y la Unión Socialcristiana (CSU) representa un nuevo problema para el canciller Friedrich Merz y su partido de cara a un otoño en el que habrá tres elecciones regionales en las que los pronósticos no son buenos para el bloque conservador. En uno de esos comicios, el de Sajonia-Anhalt (este de Alemania) existe el riesgo de que la ultraderechista Alternativa para Alemania (AfD) logre la mayoría absoluta.
El recurrir a los vientres de alquiler es ilegal en Alemania y la CDU/CSU se ha manifestado en todo momento en contra de una eventual legalización. Spahn se ha mantenido siempre dentro de la línea del partido. “Una cosa es la doctrina pura, otra cosa es la vida”, dijo en su única declaración pública desde que empezó el debate, en un pódcast del redactor jefe del diario Bild, Paul Ronzheimer.
Pero luego de la fuerte presión dentro y fuera de la alianza oficialista, Spahn debió dar un paso al costado. “En los últimos días comprendí que mi felicidad personal, que consiste en formar una familia con mi marido y convertirme en padre, es incompatible con mi cargo político”, escribió Spahn en una carta a sus colegas, un texto interno al que han tenido acceso varios medios alemanes, entre ellos la revista Der Spiegel.
La CDU, partido de Spahn y Merz, se opone firmemente a la gestación subrogada y, en un congreso celebrado en febrero, votó a favor de mantener la prohibición vigente en Alemania.
Spahn y su esposo, Daniel Funke, se convirtieron recientemente en padres gracias a una madre gestante en Estados Unidos. La noticia, revelada el jueves por la prensa alemana, provocó de inmediato críticas dentro de la CDU, incluidos llamamientos a la dimisión de Spahn, así como acusaciones de hipocresía por parte de otros dirigentes políticos.
El viernes, Spahn trató de defender su decisión al explicar en un pódcast que “durante mucho tiempo vivió un conflicto interior, especialmente sobre la cuestión de la gestación subrogada”, antes de decidir tener un hijo por ese método.
Ese mismo día, Friedrich Merz evitó pronunciarse públicamente sobre la decisión de Spahn, aunque señaló que el asunto sería debatido por el comité ejecutivo nacional del partido. El canciller añadió además que no veía “ninguna razón” para modificar la legislación alemana sobre la gestación subrogada ni para cambiar la histórica oposición de la CDU a esta práctica.
En un principio, el canciller federal había felicitado a la pareja por el acontecimiento del que fue notificado de manera privada. Pero conforme creció la indignación, tomó distancia del caso. Los medios alemanes, de hecho, aseguran que la dimisión responde a una petición del líder del partido.
“La contradicción entre mi decisión privada de tener un hijo a través de un vientre de alquiler y las expectativas comprensibles en mí como líder de nuestro grupo parlamentario se ha hecho más grande de lo que esperaba”, agregó el renunciante en la carta a su partido.
Spahn fue ministro de Sanidad entre 2018 y 2021 y su cartera tenía la responsabilidad de la ley de protección de embriones en la que está contemplada la prohibición del uso de vientres de alquiler y siempre se había opuesto a una posible legalización.
Especialmente en los estados federados de Mecklemburgo-Antepomerania y Sajonia Anhalt, ambos en el este en Alemania, había habido duras críticas a Spahn y preocupación ante la posibilidad de que el debate perjudicase a la CDU en las elecciones regionales de septiembre.
En Alemania, el derecho de familia también tiene sus contradicciones y vacíos que permiten que casos como el Spahn no sean únicos. Si bien los vientres de alquiler están prohibidos, cuando una pareja se presenta en Alemania con un bebé nacido bajo esa práctica en el extranjero, se le reconoce legalmente como padres de ese menor siempre y cuando uno de los implicados demuestre un vínculo genético.
Spahn es uno de los políticos alemanes más polémicos y con una serie de escándalos a cuestas que ahora pueden pasarle factura. Los más llamativos: la compra millonaria de mascarillas durante la pandemia, cuando era ministro federal de Salud, a una empresa donde su esposo trabajaba como director de la oficina en Berlín. O la compra de una mansión millonaria en plena crisis por coronavirus con la ayuda de un crédito bancario de una institución en la que él había sido miembro del consejo de administración.
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Platner ally Troy Jackson locks down delegates as top rivals for Democratic Senate nomination drop out
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Former Maine Senate President Troy Jackson appears to have locked up enough delegates to win the abbreviated race to replace now ex-candidate Graham Platner as the Democratic Senate nominee in the high-stakes showdown to face off with longtime Republican Sen. Susan Collins.
Delegates aligned with Jackson won the vast majority of the 500 slots that were up for grabs on Saturday and Sunday as Maine’s 16 counties held two days of delegate selection for next weekend’s nominating convention. And Jackson’s top two rivals for the nomination, Maine Secretary of State Shenna Bellows and Nirav Shah, a former top public health official, dropped out of the race on Sunday.
«In November, Mainers will defeat Susan Collins, and we will take back our Senate seat from the billionaires and corporations who think they own it,» Jackson said in a social media post Sunday evening.
While the delegates on Jackson’s slate are not required to support him at next weekend convention, he is in an extremely strong position to secure the nomination and face off in the midterm elections against Collins in what’s expected to be a combative and expensive ballot box battle that’s among a dozen nationwide which will determine if the Democrats can win back the Senate majority. The GOP currently holds the chamber 53-47.
DEMOCRACY ’26: STAY UP TO DATE WITH THE FOX NEWS ELECTION HUB
Former Maine Senate President Troy Jackson is running for the Democratic U.S. Senate nomination in the race to replace former nominee Graham Platner. (Sophie Park / Bloomberg via Getty Images)
A fifth-generation logger and a one-time conservative Republican who became a Democrat over two decades ago, Jackson came in third place last month in Maine’s Democratic gubernatorial primary.
On Saturday, in the race to replace Platner, Jackson-aligned delegates won more than 90% of the slots, including all 149 in Cumberland County, Maine’s most populous county and home to the state’s largest city, Portland.
«Yesterday was an unbelievable huge step, but our work is not finished — not even close,» Jackson said Sunday morning. And the winning streak of Jackson-aligned delegates continued throughout the day.
Over 450 of the 500 delegates elected this weekend were on Jackson’s slate. The delegates chosen will join another 101 coming automatically from the Democratic State Committee. All 601 will officially vote for the Senate nominee at next Saturday’s convention in Bangor, Maine.
Bellows, who unsuccessfully ran for the Democratic gubernatorial nomination, exited the Senate sprint on Sunday morning.
«Donald Trump’s attacks on our democracy are only accelerating, and the best way that I can serve our state and country at this moment is by focusing exclusively on my role as Secretary of State,» Bellows said in a statement that didn’t mention Jackson.
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From left, U.S. Senate hopefuls Shenna Bellows, Troy Jackson, Dr. Nirav Shah, and Jordan Wood prepare for their televised debate at the WCSH-6 studio Thursday, July 16, 2026, in Portland, Maine. ( )
Shah, a former director the Maine Center for Disease Control and Prevention from 2019 to 2023 who later served as principal deputy director of the federal CDC during then-President Joe Biden’s administration, and who came in second in last month’s Democratic gubernatorial primary, dropped out Sunday evening and backed Jackson.
«To Maine Democrats: Susan Collins will not be defeated without a united Democratic Party. And we cannot unite without treating one another with respect,» Shah wrote in a statement. «No matter whom you supported in this race, I urge us all to remember that in the weeks ahead.»
Jackson, in a social media post, thanked Shah and urged, «Now it’s time for all of us to come together, build the broadest possible coalition, and defeat Susan Collins. Let’s get to work.»
Jordan Wood, a former congressional staffer for then-Rep. Katie Porter of California who unsuccessfully ran for the Senate as well as the Democratic nomination in the state’s 2nd Congressional District this cycle, also dropped out on Sunday. Another Senate candidate, Maine Beer Company co-founder Dan Kleban, announced a campaign suspension on Sunday as well..
MAINE DEMOCRATS RALLY BEHIND PLATNER’S PLATFORM IN SPRINT TO REPLACE HIM
ORONO, MAINE – MAY 24: Sen. Bernie Sanders (I-VT) stands with Troy Jackson (L), who is running for Governor of Maine, and Democratic U.S. Senate candidate Graham Platner during a «Fighting Oligarchy» tour stop at the Collins Center for the Arts on the University of Maine campus on May 24, 2026 in Orono, Maine. Platner is the presumptive Democratic nominee and will face incumbent Sen. Susan Collins (R-ME) for Maine’s U.S. Senate seat in the general election. (Joe Raedle / Getty Images)
Along with Platner, Jackson had the support of progressive champion Sen. Bernie Sanders of Vermont as he ran for governor, and he is currently backed by ‘Our Revolution,’ the group born in 2016 out of Sanders’ first presidential campaign.
Jackson, similar to Platner, is running on a progressive and populist platform aimed at working-class voters. He backs raising taxes on billionaires, the universal healthcare system known as «Medicare-for-all,» abolishing U.S. Immigration and Customs Enforcement, and he opposes military aid to Israel at a time that Democrats are increasingly divided on support for America’s longtime Middle East ally.
Platner, a combat veteran and oyster farmer who was backed by Sanders soon after he launched his bid last August, saw his campaign quickly catch fire. Two-term Democratic Gov. Janet Mills, who was heavily recruited by longtime Democratic Senate leader Sen. Chuck Schumer to run for the Senate, suspended her campaign this spring after trailing Platner in fundraising and in the polls.
THE TWELVE RACES THAT WILL DETERMINE THE SENATE MAJORITY
Republican Sen. Susan Collins of Maine tours a food bank in Harrison, Maine, on May 5, 2026. The food bank was able to expand thanks to federal funding that the senator helped obtain. (Paul Steinhauser/Fox News)
But even as Platner steamrolled the Democratic establishment and crushed the competition last month to capture the nomination, he had already been forced on defense in the wake of a slew of scandals.
Platner dropped out earlier this month, amid calls from top Democrats in Maine and across the country to immediately exit the race following an explosive report containing an allegation of rape from a woman he previously dated. Platner denied the report but stepped aside.
While Jackson was among those who quickly called on Platner to end his bid in the wake of the rape allegation, he had previously campaigned alongside Platner and made the case that he was the best candidate to continue the fight for the progressive and populist agenda.
Democratic U.S. Senate candidate Graham Platner and Troy Jackson stand together during a «Fighting Oligarchy» tour stop at the Collins Center for the Arts on the University of Maine campus in Orono, Maine, on May 24, 2026. (Joe Raedle/Getty Images)
«This movement has always been bigger than one person. It’s about taking on a system rigged against working people, fighting for ‘Medicare-for-all,’ strong unions, higher wages, reproductive freedom, and an economy where billionaires and corporations finally pay their fair share,» Jackson said last week during a Our Revolution virtual town hall, as he pointed to Platner supporters.
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At last week’s first debate among the replacement candidates, Jackson pointed to Platner and said, «That’s the thing that I think Graham did the best: talked about fighting against the health care industry and the prescription drug industry to make sure that people in this state and this country have affordable, quality health care.»
chuck schumer, bernie sanders, politics, senate, democrats elections, midterm elections, maine
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