Dickies, long a staple in the Texas apparel industry, has announced the relocation of its headquarters to California, shaking up its centennial roots. According to an official statement from the company, they will settle into a new base in Costa Mesa, California. The move, scheduled to occur in early 2025, reflects California's allure as a business hub, boasting the world’s fifth-largest economy and the majority of Fortune 500 companies residing within the state.
The governor of California, Gavin Newsom, weighed in on the company's relocation decision, stating, "California continues to lead the way with a strong job market and consistent economic growth. We are pleased to welcome Dickies to the Golden State — the fifth largest economy in the world and a welcoming place to grow and support their ongoing success." The inclusion of Dickies is anticipated to swell the job market and accentuate the state’s dominant economic position. This move positions the workwear and lifestyle brand alongside Vans, its sister company under the VF Corporation umbrella, which already calls California home.
Per the U.S. Bureau of Economic Analysis, the state of California maintained its rank as the fifth-largest global economy for the seventh year running in 2023, charting a nominal GDP nearing $3.9 trillion and an impressive year-on-year growth of 6.1%. On a comparative scale of large economies, California also ranks the second-largest globally when assessed per capita.
California hosts the highest number of Fortune 500 firms, trumping competitors like Texas and Florida. Amidst 1.7 million private sector establishments, California's businesses contribute to almost 87% of the state's employment opportunities. The state prides itself on having equitable tax structures and has consistently led the nation in various sectors, including new business starts, venture capital funding, and high-tech industry innovation, as well as in the manufacturing and agricultural arenas.
The entrepreneurial spirit is matched by the state's vibrant tourism sector, with a record-breaking $150.4 billion in travel spending in the previous year, beating the pre-pandemic high of $144.9 billion initiated in 2019. The fiscal contribution of tourism to state and local taxes amounted to $12.7 billion last year, fabricating, cumulatively, a considerable number of employment opportunities in the region. By continuing its strategic push towards economic expansion, the California governor's office aims to promote job creation and statewide economic development through initiatives like the forthcoming California Jobs First Economic Blueprint, which will strategically guide state investments into the next decade.
