California’s Corporate Collapse? Abbott Outshines Newsom in Latest Business Migration

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158 Companies Gone and Counting – Texas Emerges as the New Innovation Empire

A major South Korean tech company has decided to abandon its California headquarters in favor of Texas, marking a new chapter in the growing wave of firms leaving the iconic Silicon Valley behind.

The company, Cupix Inc., which specializes in 3D mapping solutions for industries such as construction, defense, energy, and public administration, had been operating since 2017 out of San José, but has now relocated to Williamson County, just outside Austin.

According to Cupix Inc. CEO Simon Bae, speaking to the Austin Business Journal, the move was driven by economic factors and the attractiveness of Texas’s talent pool. This decision reinforces an already established trend, as numerous companies are fleeing California’s high costs and strict regulations for more business-friendly environments.

Texas, under Governor Greg Abbott, has become one of the most coveted destinations, contrasting sharply with Governor Gavin Newsom’s leadership in California.

Cupix Inc. joins a growing list of companies ditching California for Texas. According to Buildremote, between 2020 and 2024, at least 158 companies left California, many heading to Texas. Notable names include Chevron and Elon Musk’s SpaceX. The shift isn’t just geographical—it’s also a strategic reconfiguration of the business ecosystem.

At their new Cedar Park office, Cupix already has 6 of its 30 U.S.-based employees working in a 37 m² space, aiming to integrate into the local tech environment and continue expanding. With fewer bureaucratic hurdles, lower operating costs, and a solid talent base, Texas continues to establish itself as the new hub for tech companies looking to grow without California’s limitations.