Oil and gas giant Chevron Corp. said it’s selling its Bay Area headquarters and moving its employees to Houston as it pares down its office space.
Chevron is planning to sell its current East Bay headquarters in San Ramon and is offering to cover costs for employees who voluntarily opt to move to Houston, Texas, the Wall Street Journal has reported. The company said it’s now looking for a new, smaller space to lease in the Bay Area and expects to move from its existing headquarters in late 2023.
Read the full story at BizJournals.com.
27 comments
Way to go Newscum another big one leaves the state.
… no surprise .. when they closed Concord it shifted some employees to SR, some to TX, some downsized…. the employees knew the next step… SR is reeling by now the AT&T / SBC / PacBell building is not at capacity once they moved everything back to TX too… I do feel bad for the surrounding small business owners that depended on the employees from both locations for their income.
You think it’s hot here, wait til you get to Houston.
But it’s a humid heat.
…and pay cash for your home, and realize a significant drop in property taxes, and enjoy no State income tax.
@Addle
Uh, property tax rates are
significantly higher in TX…once upon a time not a big deal since the houses were considerably cheaper there compared to CA, but that’s not the case any longer.
@Addie The property tax for my old place which is valued at $85,000 is more than my current place here valued at $175,000 Sure no income tax and gas is cheap, but I made up for it in AC bills and insurance. It all kinds of evens out.
Whatever Texans save on state income tax is taken away from them via property taxes. People in Texas tell me they are taxed at 100% market value. State law requires that property taxes are reassessed at a minimum every 3 years, although everyone has said they are reassessed every year.
They have no Prop 13 there, and when asked about future housing shortages, the governor himself let slip that it’s never a problem in Texas because new homes always come up for sale when retired people realize they can no longer afford to live there, which is what exactly what led to Prop 13 in California.
Plus the weather sucks and crime is horrible in Houston.
Yet, it’s probably a better choice than California.
The talking heads said the migration would be from the pro-life states to the pro-abortion states.
Can you blame them? Commiefornia is very anti business.
That is a very large complex, wonder how many employees are currently housed there and how many will stay in CA.
Some friends of mine, who used to work for Chevron, mentioned with the closure of the concord office, which was demolished in favor for the Veranda shopping mall, the company had consolidated it’s presence to San Ramon. They felt the writing was on the wall. Eventually, with the anti-oil, anti-business sentiment of the bay area, Chevron was going to leave at some point. COVID accelerated it, with many deciding to retire early, aka, the “great resignation.”
I’ve noticed in the Bishop ranch area there, many of the corporate campuses are largely empty, due to work at home. The at&t office there, right next to target, is largely empty there. I think Bishop ranch 6 was demolished recently, to make way for some homes there. Figure these will be starting $1.5M “pack and stack” track homes.
That space will be great for more luxury apartments!!
SMART MOVE!!! Time to vote for a positive change in November, replace the financially ignorant politicians in Sacramento that are intent on destroying California.
The latest proposal coming out of the G7 meeting in Germany is to pay poor people to not use electricity. Expect to see Newsom in front of cameras soon. The G7 has become the forum of the western governments that have been taken over by operatives from WEF. Think Hunger Games……
Chevron is being targeted by WEF through ESG financing laws also. These laws make companies comply with arbitrary leftist criteria for the environment, social justice, and “democratic” (leftist definition) corporate governance. No ESG, no money from large investment banks on Wall St. Chevron should have left decades ago.
Well done California. I’m sure everyone working at Chevron is happy with the way CA has handled it politics in the past 5 years. Keep it up. It’ll be a desert in no time.
But it’s a wet heat !
.
Good on you Chevron. What took so long to realize that CA is a terrible place to do business?
.
No surprise considering how ANTI BUSINESS both CA and Contra Costa County have become.
Only about 3,000 left in SR. About half of what could be there. At one time Chevron was the largest bay area employer. Been a ears in the making to move to Houston.
That giant sucking sound you hear is jobs leaving Kleptofornica for a Red State. Get used to it!
This was announced weeks ago. The corporate headquarters will remain in San Ramon – for now. They are headquartered in California as a result of the breakup of Standard Oil many years ago. But the oil industry in the US is based in Texas, not California, so it’s not surprising they are moving more workers to Houston where they already have a large presence.
That’s a blow for San Ramon, but it’s a good business move.
I don’t know what I would do if employed there, because Houston is sweat
box for 6 months/year. Air conditioners run 24/7 for most of those hot months.
Another one bights the dust. It’s been headquartered here since the Feds broke up Standard Oil.
I don’t blame them…I would go just to get the hell out of Calif…
Gee, wonder why? When the state you work in treats your company like some evil empire, where old white fat cats smoking Cohibas plot to “screw the working man”, what do you think will happen?
While there are financial benefits to living in TX as compared to CA, property taxes are NOT one of them. They pay near the HIGHEST RATES in the nation, which on a real dollar basis used to not be a big deal since you were paying that higher rate on a much lower underlying market value, But now as home prices have skyrocketed across TX, property taxes there are crazy…and they don’t have Prop 13 there, probably the last sane thing CA has done.
TX used to be high on our list of where to go once we escape CA…but as the areas we like there become an increasingly high COL and the state rapidly turning blue, no way am I putting up with that heat,humidity, and lack of mountains to live in a place that within 10 years will be yet another state ruined by s-head leftist Californians just like OR,CO, etc.
Texas makes sense for Chevron. I knew people who were transferred there after their merger with Gulf Oil. California, on the other hand has proven itself to be an open enemy of the oil industry.
As for places to retire, Forbes and so other publications have lists of the best places to retire. We didn’t like Texas, but found a different Red state with a tax structure, political climate, health care, etc… we liked. It is not as humid or hot as Texas, but we do use the A/C a lot for about 4 months.
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