The exodus continues: Another company to relocate its headquarters from California to Texas
San Francisco, California – Joining a trend of IT and healthcare businesses moving their base of operations to more business-friendly states, Verily, a well-known life science company under the Alphabet umbrella, has revealed intentions to move its headquarters from South San Francisco to Texas. This move is going to benefit the growing biotech industry in North Texas and close the distance between Verily’s East and West Coast businesses.
Verily has found the business environment fit for expansion in Dallas since launching an office late 2021. The company praised North Texas for being “well-positioned to be a market leader in the convergence of healthcare and technology for years to come,” according to a statement on its careers page. Along with other North American sites in Boston, Raleigh, and outside Toronto, this strategic action include keeping a notable presence in Silicon Valley, where Verily still employs roughly 500 people.
Moving to the Dallas area—more especially, to the lakeside headquarters in the Cypress Waters neighborhood close to DFW International Airport—aims to maximize the local talent pool and the area’s innovative capacity in healthcare technology. This site currently employs more than 60 people, a figure that has increased consistently for the past three years.
Verily says there will be no layoffs even though the company’s headquarters are moving. The decision comes after a year of corporate reorganization that saw at least 15% of its workforce reduced and efforts on precision healthcare refocused away from some of its previous medical device development initiatives.
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Verily’s relocation to Texas fits a larger pattern seen with big corporations like Oracle and McKesson, who have both moved their headquarters from California to more central sites recently. Earlier this year, after leaving Silicon Valley for Austin, Texas, Oracle relocated its world headquarters to Nashville, Tennessee. Likewise, from San Francisco back in 2019 McKesson moved its headquarters to Irving, Texas.
This trend highlights Texas’s rising standing as a center of biotech and healthcare innovation. Dallas slowly becomes a major hub for the biotech sector. This became even more evident when the city was chosen to host one of the three new biotech research hubs for the Advanced Research Projects Agency for Health (ARPA-H), thus marking a turning point in the development of the city.
Verily’s choice, according to the Dallas Morning News, “marks another step in North Texas’s transformation into one of the country’s premier biotech hubs,” therefore indicating a bright future for the area in drawing innovative businesses and highly advanced employment.
