On October 7, 2021, during a shareholders meeting, Elon Musk announced that Tesla would be moving its headquarters to Austin. The announcement is a momentous event for our region, solidifying Austin’s position as the hub of the tech industry.

The Fortune 100 company had previously announced the construction of a Gigafactory and intentions to hire for 10,000 jobs in the region. Musk cited the high cost of living and long commute times at its current headquarters in the Bay Area as reasons he is moving the HQ to Austin.

“Tesla’s move to Austin is a home run for our entire region,” Laura Huffman, president and CEO of the Austin Chamber of Commerce, said. “This decision cements our reputation as a global innovator and a local creator of opportunity. We are looking forward to the positive impact Tesla will have on our region.

“All eyes are on Austin as Elon Musk has said that Austin is the greatest boomtown in America, and he has shown he believes that statement with his actions today. This is Austin’s seminal moment: we are now the hub of the tech industry, and we aren’t going anywhere.”

In this CBS Austin interview, Huffman shared:

“We are already seeing a lot of traffic from tech companies moving to Texas, so this announcement will spur even more of that,” said Huffman, “we are known for having so much talent in our community, and people are moving here to tap into that talent.”