Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.
Catch up on the day's biggest business stories
Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter
Stay on top of the latest market trends
Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.
Sports news worthy of your time
Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.
Tech news worthy of your time
Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.
Get the inside stories
Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Want a daily digest of the top Denver news?
Get a daily digest of the most important stories affecting your hometown with Axios Denver
Want a daily digest of the top Des Moines news?
Get a daily digest of the most important stories affecting your hometown with Axios Des Moines
Want a daily digest of the top Twin Cities news?
Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities
Want a daily digest of the top Tampa Bay news?
Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay
Want a daily digest of the top Charlotte news?
Get a daily digest of the most important stories affecting your hometown with Axios Charlotte
Sign up for Axios NW Arkansas
Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters
Photo: Marijan Murat/picture alliance via Getty Images
Hewlett-Packard Enterprise, one of two public companies that now bear the HP name, said Tuesday it's moving its corporate headquarters from San Jose, California, to Houston.
Why it matters: The move isn't financially huge, as HPE already had a significant number of employees based in Houston, the old hometown for Compaq, which merged with HP in 2001. But the symbolism of a Silicon Valley icon picking up and leaving is not a good look for the Bay Area.
Details: HPE said it doesn't plan layoffs and it will keep a significant presence in California.
- Silicon Valley "will continue to be a strategic hub for HPE R&D, innovation and technical talent," it said in a blog post.
The big picture: Enterprise cybersecurity firm Tanium is also leaving Silicon Valley for the Seattle suburbs, as reported by GeekWire.
- "San Francisco is not the city it was 20 years ago," CEO Orion Hindawi told GeekWire.
Yes, but: HP Inc., the company that makes PCs and printers, is staying put in the Bay Area, a spokesperson told Axios.
Between the lines: Taxes surely played a role, as Texas has lower corporate taxes and no state income tax. However, it's not that simple, some experts say, noting Texas has higher sales and property taxes.
My thought bubble: The threat to Silicon Valley's industry centrality is less from changes in the region than from the way the pandemic has opened the floodgates to remote work, offering employees that want more space or better schools an option to get those benefits without changing jobs.
Editor's note: This headline has been updated to reflect that Hewlett-Packard Enterprise is not "part of HP."