Schwab Abandons High-Tax San Francisco For New $100 Million Mega-HQ In Dallas
This appears to be a trend. There are limits to what companies are willing to pay for the privilege of staying on the West Coast.
Schwab chairman and founder Charles Schwab noted that one of the drivers in the move out of California was the high cost of doing business in the state, “…the costs of doing business here are so much higher than some other place.”
Schwab said it would keep a “sizeable corporate footprint” in San Francisco, but the brokerage house will likely wind down operations in the state through 2025.