The Business Relocation Boom: Key Statistics on Corporate Moves

Note: Data reflects single-establishment firms only.
Source: U.S. Bureau of Labor Statistics

Recent Trends in Corporate Headquarters Relocations

Between 2018 and 2023, CBRE tracked 465 corporate headquarters relocations in the U.S., with activity peaking at 137 moves in 2023. Texas was the top destination, especially cities like Austin, Dallas, and Houston. Meanwhile, San Francisco/San Jose, Los Angeles, and New York City saw the largest number of companies move out. Relocation activity has since slowed after this five-year surge.

However, not every corporate headquarters move involved crossing state lines. According to CBRE, over the past seven years, 70 Fortune 500 companies made major changes to their headquarters but remained within the same metro area, while another four relocated elsewhere within their home state. 

Meanwhile, 29 companies chose to upgrade and reinvest in their current headquarters rather than move at all. The most frequent relocation announcements came from the tech and manufacturing sectors. Tech companies, in particular, were more flexible in choosing locations, often citing the search for more affordable talent as a key reason for relocating.

2024 Relocation Slowdown

However, in 2024, many companies paused their relocation plans due to rising costs tied to establishing new headquarters and relocating employees. High mortgage rates made it harder for talent to move, while ongoing uncertainty around return-to-office policies and the upcoming election added to hesitation. 

At the same time, corporate focus shifted toward expanding manufacturing footprints—driven by reshoring trends and federal incentives from the Bipartisan Infrastructure Law and Inflation Reduction Act. Meanwhile, some organizations began consolidating operations, closing satellite offices, and searching for more efficient, centralized locations.

How HQ Moves Impact Cities

When a company moves its headquarters, it can have a big effect on both the city it leaves and the one it moves to.

For cities that attract new headquarters, it’s a major win. These moves bring good jobs and can boost the city’s image, helping attract more businesses and development. In St. Petersburg, for example, Foot Locker’s move is seen as a sign that the city—and the Central Florida region—is on the rise.

Cities that lose headquarters, like some in California, may face a hit to their reputation. They’re often seen as less business-friendly, and the loss can affect local pride and tax income. But losing a company isn’t always bad—those cities avoid giving out big financial incentives and may also escape problems like higher housing costs or overcrowding.

Still, the appeal of landing a major company is strong. In 2025, cities looking to recover from the effects of remote work may be eager to compete again for high-profile corporate moves

Top Industries Driving Corporate Relocation in 2025

According to CBRE, among the 561 publicly announced HQ moves between 2018 and 2024 (including the 96 in 2024), the technology and manufacturing sectors each accounted for 28 moves in 2024—making them the top drivers of corporate relocation.

These industries are not just relocating—they’re strategically repositioning to reduce costs, access skilled talent, and tap into new market opportunities.

Tech companies are expanding beyond traditional hubs like Silicon Valley, favoring cities with lower expenses, diverse workforces, and strong innovation ecosystems. Manufacturing firms, on the other hand, are focused on supply chain efficiency and geographic diversification.

This shift is driving demand for experienced business movers, especially among business moving companies. 

The Shift to Remote & Hybrid Work: Impact on Office Moves

As more people started working from home, many businesses realized they didn’t need as much office space. This led to a rise in office downsizing and fewer big office moves. Companies began cutting costs by reducing their space, using less energy, and needing fewer services tied to maintaining large offices.

From 2019 to 2022, industries with more remote workers saw better productivity, even without increasing output. This happened because they spent less on things like office buildings and equipment. In fact, every small increase in remote work was linked to a noticeable drop in office space costs.

With remote and hybrid work now common, more businesses are moving into smaller spaces or skipping moves altogether. As recent corporate relocation data shows, this shift is changing how companies plan office relocations in the long term.

Warehouse & Industrial Moves: Growth in Logistics Relocations

Warehouse and industrial moves have seen major growth in recent years, especially between 2020 and 2021. This shift was largely fueled by the fast COVID-19 vaccine rollout, which helped jump-start the U.S. economy and led to a sharp rise in demand for logistics space. As the economy reopened, companies rushed to relocate, expand, or build new distribution centers—boosting overall commercial moving statistics.

E-Commerce Is Leading the Way

E-commerce continues to be the main engine behind the boom in warehouse relocations:

• Online shopping increased by $183 billion starting in March 2020.
  
• E-commerce made up 14% of all U.S. retail sales in 2020 and is on track to reach $1 trillion by 2022.
  
• The number of global e-commerce users is expected to rise by 400 million.
  
  

As a result, companies like Amazon and other large retailers need more warehouse space to meet customer demand—creating steady work for business movers and business moving companies across the country.

Reshoring Adds More Relocations 

Alongside e-commerce, reshoring is also pushing more warehouse and industrial moves. A recent report showed:

• 90% of North American manufacturers plan to bring part of their operations back to the continent within five years.
  
• Since 2019, 1.2 million manufacturing jobs have been reshored.

This trend directly contributes to the growth in corporate relocation activity, as businesses shift operations closer to home and into new facilities.

Key Industrial Stats from Early 2021  

• 109.6 million sq. ft. of industrial space was absorbed in Q1 2021 — a record high.
  
• 73.2 million sq. ft. of new warehouse space was delivered in the same quarter.
  
• 356 million sq. ft. was under construction nationwide.
  
• Major markets like Dallas-Fort Worth, Atlanta, Inland Empire, Chicago, and Phoenix saw the biggest gains.

Even emerging markets like Salt Lake City, Savannah, Stockton, and Columbus posted strong growth in warehouse demand—signaling long-term shifts in distribution strategy.

What This Means for Businesses

More companies are relocating their warehouses to support faster delivery, improve supply chains, or cut costs. In this fast-moving space, working with experienced commercial movers in NYC or national business movers helps businesses manage complex logistics without disruption.

These trends prove that warehouse and industrial relocations are no longer just a cost-saving move—they’re a growth strategy that will continue to shape the logistics industry for years to come.

What Businesses Look for in a Commercial Moving Company

When preparing for a relocation, companies are not just seeking transportation—they’re looking for reliability, efficiency, and expertise. Choosing the right office moving company in NYC is a critical decision that can significantly impact business continuity, employee productivity, and the protection of valuable assets. Understanding what businesses prioritize during this process helps moving companies align their services with client needs and stand out in a competitive market.

✓ Professionalism and Experience

Businesses prioritize commercial moving companies with a proven track record and years of experience in handling complex relocations. From dismantling workstations to securely transporting sensitive equipment, experienced movers offer the confidence that operations will resume quickly and with minimal disruption. Companies often seek references, case studies, or reviews that demonstrate a mover’s ability to handle similar-scale relocations.

✓ Comprehensive Services

One of the top criteria businesses look for in an office moving company in NYC is the range of services offered. This includes packing and unpacking, inventory management, disassembly and reassembly of office furniture, IT equipment handling, and short- or long-term storage solutions. Companies favor movers who provide end-to-end support, reducing the need to coordinate multiple vendors and ensuring a more streamlined transition.

✓ Valuation and Licensing

Trustworthy commercial moving companies like Clancy Relocation & Logistics are fully licensed and insured. Businesses want the assurance that their assets are protected throughout the move. This is especially important when transporting expensive technology, confidential documents, or large machinery. Verifying a mover’s credentials, valuation coverage, and compliance with federal and state regulations is a key step during vendor selection.

✓ Clear Communication and Project Management

Businesses value commercial movers in NYC who provide clear, consistent communication from planning through execution. A dedicated move coordinator or project manager helps ensure timelines, budgets, and expectations are met. Companies want a moving partner who is responsive, transparent, and capable of navigating last-minute changes or challenges without derailing the schedule.

✓ Custom Quotes and Transparent Pricing

Cost is always a factor, but businesses prefer commercial moving companies that offer detailed, customized estimates based on their specific needs. Clear breakdowns of pricing—covering labor, equipment, materials, and potential extra charges—help prevent unexpected costs and support better budgeting. Transparent pricing builds trust and sets the tone for a professional relationship.

✓ Specialized Equipment and Logistics Capabilities

Businesses moving large equipment, fragile electronics, or operating in high-rise buildings often require specialized tools and logistics. Commercial movers in NYC with lift gates, dollies, padding, and climate-controlled trucks demonstrate readiness to handle the job efficiently and safely. The right equipment ensures a smoother move, especially for industries with unique operational requirements.

✓ Flexibility and Minimal Downtime

Commercial clients prioritize moving companies that offer flexible scheduling, including weekends or after-hours service, to avoid interfering with regular operations. The ability to complete the move quickly with minimal disruption is a major selling point. Businesses seek movers who understand the importance of minimizing downtime to maintain productivity and customer service.

The Future of Business Relocation: What the Data Predicts

Business relocation is evolving rapidly, shaped by economic shifts, workforce trends, and strategic goals. Corporate relocation data shows that companies are no longer just moving for space—they’re relocating to stay competitive, reduce costs, and reach new talent pools.

Recent statistics reveal that corporate moves are happening at record levels. Between March 2022 and March 2023, nearly 9% of U.S. public companies relocated their headquarters, a 29% increase from the previous year. While tech and manufacturing firms lead the charge, more industries are joining in, looking for tax advantages, affordable markets, and better access to skilled workers.

At the same time, many businesses are rethinking their space needs entirely. Remote and hybrid work models have led to office downsizing and a growing preference for flexible workspaces. This shift is changing the role of traditional headquarters, with many companies opting for smaller, more efficient hubs instead of large central offices

Regionally, companies continue to leave high-cost areas like New York and California for growing business hubs in Texas, Florida, and the Southeast. These moves are not only driven by cost savings but also by policies that support innovation, infrastructure, and growth.

As the market moves forward, relocation will remain a key part of long-term business strategy. Companies are expected to continue optimizing their footprints, whether by moving closer to supply chains, reshoring operations, or consolidating office space.