Boston, MA 05/06/2014 (wallstreetpr) – Charles Schwab Corp (NYSE:SCHW) and Google Inc (NASDAQ:GOOG) operate in different industries, but having a big presence in Dallas is something that the two large U.S. companies have in common. In any case, there are many other large companies that are considering relocating headquarters or a big chunk of their operations to Dallas. That follows the big move by Toyota Motor Corp (ADR) (NYSE:TM).
Toyota recently announced the decision to relocate its North American headquarters to Dallas and that move is generating great interest among other large U.S. companies. Some other companies that are reportedly considering establishing significant operations in North Texas include Caterpillar Inc (NYSE:CAT), and TD Ameritrade Holding Corp (NYSE:AMTD).
Expansion into North Texas
Even before Toyota declared its big relocation move, Charles Schwab Corp (NYSE:SCHW)’s planned expansion into North Texas was already widely being discussed in and outside the company. The company was reported early this year as preparing to move a significant amount of operations and jobs to Texas and other places over the next three or five years.
In fact, the company’s spokesman Greg Gable said that the company considered Texas among the prime spots to pursue future opportunities. In addition to Texas, the company is also reportedly circling Colorado. However, given the deft move by Toyota and the growing interest among companies to gain ground in Texas, Charles Schwab Corp (NYSE:SCHW) now ranks Texas highly than it does other locations.
Cutting headquarters jobs
Charles Schwab Corp (NYSE:SCHW) could move about 1,000 jobs from California to Texas as part of the expansion into Dallas. The company has about 2,700 jobs at its headquarters in San Francisco. The company is also evaluating several other locations where it plans to make additional investments. SCHW already has a $230 million campus project in Denver that is construction currently.
In all the latest expansion efforts, Charles Schwab Corp (NYSE:SCHW) seeks to grow revenue and keep costs and expenses low so that its shareholders can obtain a greater value. In that case, the company is likely to be seen making several moves towards achieving this goal over the next few years.
