A life sciences sister company of Google is the latest company to trade California for Texas, reflecting the state's growing importance as a biotechnology hub and a destination for corporate relocation.
Verily Life Sciences, a subsidiary of Google parent Alphabet, is moving from San Francisco to the Dallas area by the end of this quarter, the Dallas Business Journal reported. The company is extending its lease at 2999 Olympus Boulevard in the Cypress Waters complex in Coppell.
Founded in 2015 as a biotech data company, Verily set up shop in Dallas in June 2022. It occupies the top floor of the 10-story building and is expanding its lease to include the ninth floor.
The company will double its 60-employee Dallas workforce over the next 18 months.
The move was part of the company's reevaluation of office space – it recently moved from South San Francisco to San Bruno. The Central Time Zone location will facilitate communication among its 1,000 employees in California, Texas, Boston and Raleigh. DFW's business-friendly environment and strong ties to the medical community played a major role in Verily's decision to move, said Dallas-based CEO Stephen Gillett.
“It's a growing hub and has a great talent pool,” Gillett said. “It has great universities and excellent transport links and is close to the airport.”
Major medical projects currently underway include UT Southwestern Medical Center and Children's Health's $5 billion pediatric campus. Dallas County Health and Human Services is building a $52 million laboratory on 1.6 acres near the Southwestern Medical District. And a federal agency, the Advanced Research Projects Agency for Health, is establishing one of its three headquarters in Pegasus Park near the Dallas Design District.
Billionaire Elon Musk is also moving two of his technology companies from California to Texas. X is moving to Austin and SpaceX to Brownsville.
—Andrew Terrell
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