More Business News

Two great business articles in one day from the local paper, the Austin American Statesman, regarding companies relocating their HQ here.  The first is a financial tech firm called Green Dot (never heard of them) who is moving here from where else but California!  Two of reasons for the move is Austin’s location and the talent pool in our area.  Green Dot has been around since 1999 and provides financial services to consumers and businesses alike with debit cards, prepaid and payroll cards, and checking.  It also provides processing services, tax refunds, and more.  These are all clean industry type services vs. heavy industry such as making tires.  The point being is that this kind of industry is easy on the environment.  Green Dot didn’t state how many employees will be coming to Austin or the site of the new HQ, but their Pasadena, California facility that they will lease out has 160,000 square feet, so I expect that the size of the new facility will be as large or larger and it will take a lot of folks to fill that space.

Also as reported in an article in the Austin American Statesman this week, another California firm has relocated their HQ from California to Austin.  The software maker NinjaRMM (never heard of them) has relocated from San Francisco to our fair city and according to CEO Sal Sferlazza, they plan on hiring dozens of employees with an approximate total employee count between 75 – 100.   NinjaRMM makes endpoint monitoring and management platforms (what’s that?) that will enable companies to secure computer devices.   Sferlazza stated that several employees asked that the company move out of the City by Bay and relocate to Austin.  The reasons for the move are becoming well known as being universal:  1.  The affordability of Austin vs. San Francisco, 2. The area’s friendly business environment, 3. The talent pool that the Austin area offers.

And you ask why the Austin area has such a traffic problem!

The relocation of these headquarters to Austin, coupled with the others that have come our way or expanded their Austin area operations (remember Tesla, Oracle, Amazon, and Apple) are all great reasons for owning Austin area residential rentals and making them a part of your overall investment portfolio.  And as you build up equity in your rental you can pull out cash tax free in a refinance or other loan.  Not bad!