Tech companies like Slack, Square and Coinbase have announced their businesses will be remote-first. Others, like Pinterest, Salesforce and Yelp, are shedding office space. Now, according to a new report, more companies have already moved their headquarters outside of California so far in 2021 than in 2020.
If the pace keeps up, the number will double what it was last year, according to the report from Stanford’s Hoover Institution, a conservative think tank. So far, its data shows that 74 companies have already moved their headquarters to other states in 2021, surpassing the half-year average for 2019 and 2018. It’s also more than the number of companies that moved away in all of 2020.