Something big has been happening in Dallas-Fort Worth. And if you’re in the energy sector—whether you’re hiring or thinking about your next move—you’ve probably felt it.
Between 2018 and 2024, the Metroplex pulled in 100 new corporate headquarters. More than any other metro in the country, according to CBRE research. That’s not a slow trickle. That’s a flood. And it’s completely changed how companies compete for executive talent around here.
“The conversation with executive candidates has completely changed over the past five years,” said Jim Hickey, President Managing Partner at Perpetual Talent Solutions, a Dallas-Fort Worth executive search firm. “When we approach a VP of Operations or CFO in California or New York about a Dallas-based opportunity, the tax savings alone often move the conversation forward faster than any other factor.”
The Tax Math That Gets Executives to Pick Up the Phone
Texas doesn’t have a state income tax. Zero. And that’s not just a policy—it’s in the state constitution now, locked in after voters approved an amendment in 2019.
Compare that to California, where high earners pay 13.3 percent on anything over a million. Or New York City, where combined state and local rates can hit nearly 16 percent, as The Hill reported.
Let’s make this concrete. Say you’re an energy executive making $500,000 in base salary, plus bonuses and equity. Move from California to Texas? You’re keeping an extra $60,000+ every year. And it gets better: when you cash out stock options or sell a business, California taxes those gains at up to 13.3 percent. Texas? Nothing.
“Energy executives are sophisticated financial thinkers,” Hickey explained. “They understand that over a ten-year career span, the cumulative tax savings can amount to over a million dollars. When we present opportunities in Dallas-Fort Worth, we can demonstrate concrete financial benefits that make relocation an obvious choice.”
Over a million dollars. That’s not a perk. That’s a second career’s worth of savings.
It’s Not Just Personal Taxes—The Whole Business Environment Is Different
Here’s what I think gets overlooked: Texas doesn’t just make life easier for executives. It makes running an energy company easier, too.
The state deregulated its energy market back in 2002. That means businesses can shop around for electricity providers and negotiate rates that actually work for them. Texas also runs its own power grid and has serious infrastructure for pipelines and refineries. If you’re in energy, this stuff matters.
The Texas Economic Development Corporation lists a whole menu of incentives: sales tax exemptions on manufacturing equipment, franchise tax breaks for certain energy businesses, property tax abatements. It’s no accident that Texas is now home to 52 Fortune 500 companies.
And the numbers back it up. According to industry data, Texas GDP has crossed $2.6 trillion. If it were its own country, it’d be the eighth-largest economy in the world. The state grew 3.9 percent in 2024—faster than the national average—and energy was a big part of that.
But Here’s the Catch: Everyone Figured This Out
All those advantages? They’ve attracted a lot of competition.
The total market cap of public companies in the Metroplex has doubled to $1.5 trillion in just five years, according to Visual Capitalist data. That’s a lot of companies, all hunting for the same C-suite talent.
“We’re seeing energy companies offer increasingly competitive packages to secure top executives,” Hickey noted. “The candidates understand their leverage. They know that Dallas-based companies are competing not just with each other, but with Houston firms and legacy energy centers like Denver and Oklahoma City.”
The Federal Reserve Bank of Dallas says 60 percent of businesses moving to Texas pick either Dallas or Houston. Great for the talent pool. Tough for anyone trying to stand out.
Companies can’t just wave the “no state income tax” flag anymore. Everyone’s waving it. Now you need something more—culture, growth trajectory, a real vision for where the industry’s headed.
The Talent Pipeline Is Real Now
One thing that’s changed: you don’t always have to convince people to move here anymore. A lot of them already want to be here.
Texas universities—UT, Texas A&M, Rice, SMU, University of Houston—are pumping out engineering and finance grads with energy-specific training. A Development Counsellors International study found that over three-quarters of site selection consultants say talent access is the number one factor in where companies decide to locate.
And it’s not just new grads. Mid-career executives, senior leaders—they’re looking at Dallas-Fort Worth and seeing a place where they can advance without the tax hit and cost-of-living squeeze they’d face elsewhere. The Texas workforce is over 15.5 million people now, and the state is attracting more Gen Z and Millennial talent than anywhere else.
“The talent ecosystem in Dallas-Fort Worth has matured significantly,” Hickey observed. “Ten years ago, we often had to recruit executives from other regions. Today, many of our placements involve candidates who are already in Texas or who have long planned to relocate here. The infrastructure for energy executive careers is now fully established.”
What It Takes to Win Now
Look, the tax advantages still matter. They get candidates interested. But they’re table stakes now, not a differentiator.
In 2024, 96 companies announced headquarters moves nationally—up from just 18 in 2023, per CBRE analysis. Texas grabbed the biggest share, with 19 companies moving in.
So what separates the companies landing top executives from the ones who keep losing out?
It comes down to story. Where’s the company headed in the energy transition? What does leadership development actually look like? How does equity participation work? Is there a strategic vision that feels real, or just corporate talking points?
“The companies winning the talent war are those that can articulate a clear vision for how they’re leading the energy transition while leveraging the advantages Texas provides,” Hickey concluded. “Executives want to know they’re joining an organization positioned for long-term success, not just one that offers tax savings. The smartest energy companies use the Texas advantage as a foundation and build from there with differentiated leadership opportunities.”
Dallas-Fort Worth has become one of the best places in the country to build an energy career. The taxes, the regulations, the infrastructure, the talent—it’s all here now. But that also means the bar is higher. The companies that win aren’t just selling location. They’re selling a future worth being part of.
