🚗 The Pandemic Quickened the Pace of U.S. Businesses Moving South

What We’re Showing:

This chart tracks the annual net migration of U.S. firms by region from 1994–2021, according to data published by the Bureau of Labor Statistics in 2024.

🤔 Companies Keep Fleeing South

Since the 90s, businesses from the Midwest and Northeast have consistently migrated to the West and South.

But during the pandemic there was only one winner: the South.

It gained nearly more than 1,000 firms from the rest of the country in two years.

Texas, particularly, saw an influx of tech companies in 2020–21. Tesla and HP are some of the bigger names that moved their headquarters from California.