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A wave of corporate relocations is reshaping the U.S. economy, and Texas is emerging as the clear winner.

According to a report by CBRE, one of the nation’s largest commercial real estate brokerage firms, 561 companies have relocated their headquarters nationwide since 2018. The research shows many companies are reassessing tax climates, operating costs and growth prospects as they consider a move. 

That’s significant, because these moves are often driven by long-term financial and growth strategies, not just geography — giving business-friendly states a competitive edge. 

From Texas to Tennessee, those states are racking up new headquarters, while blue strongholds like California and New York are losing companies at a notable clip.

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The Lone Star State clearly dominates the relocation map. Dallas-Fort Worth captured 100 headquarters moves between 2018 and 2024 — the most of any metro in the country — while Austin secured another 81 and Houston added 31. Combined, those three markets accounted for more relocations than most entire states, cementing Texas' outsized role in reshaping the corporate landscape.

Meanwhile, California metros saw the steepest net losses, led by the San Francisco Bay Area with a net loss of 156 headquarters over the same period. 

THIS STATE ISN’T JUST GROWING — ITS ECONOMY IS GETTING RICHER PER RESIDENT

As blue states debate regulation and tax policy, Texas business leaders say the state's approach is paying off. Megan Mauro, interim president and CEO of the Texas Association of Business, points to the state’s tax structure and lighter regulatory climate as key draws.

"We have a light regulatory touch and no personal or corporate income tax," Mauro said, citing Texas' recent $25 billion surplus as evidence of what she calls a competitive tax environment.

Her argument aligns with research from CBRE, which found that companies most often cite lower taxes, reduced operating costs and stronger growth opportunities when relocating their headquarters.

The shift has intensified scrutiny of tax policy in high-cost states. Steve Moore, economist and co-founder of Unleash Prosperity, said those states risk driving away wealth and investment.

"It is common sense for business leaders to pick places for future financial success rather than economic suffocation," Moore told Fox News Digital.

CALIFORNIA’S LOOMING CAPITAL FLIGHT PROBLEM COULD RESHAPE STATE IN 3 KEY AREAS

He argued that proposals such as California’s 2026 Billionaire Tax Act are accelerating the outflow of the state's ultra-wealthy residents to lower-tax states like Texas and Florida. 

"These business tycoons are running to states like Florida and Texas because of lower taxes, economic freedom and future economic prosperity," he said, describing it as "voting with their feet."

That shift is also reflected in population data.

From 2021 to 2024, Texas and Florida posted the largest net population gains, while California and several northeastern states recorded some of the steepest losses, according to IRS and U.S. Census Bureau data.

Moore added that the broader economic implications extend beyond corporate balance sheets.

Growth in states like Texas can expand the tax base and provide additional funding flexibility for infrastructure, education and other priorities — often without raising tax rates.

Economic performance frequently shapes midterm messaging, and migration trends like these are poised to feature in debates over tax competitiveness.

Whether those patterns endure remains to be seen. For now, though, population flows are reinforcing a broader argument: tax policy is no longer an abstract debate — it’s shaping where Americans choose to build their futures.

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The federal investigation into the Los Angeles Unified School District superintendent, whose home and school office were raided Wednesday, may be tied to a failed multimillion-dollar AI school contract involving a potential conflict of interest.

Alberto Carvalho previously awarded a $6 million contract, paying $3 million up front, to education technology company AllHere. 

A former salesperson employed by the firm also had her Miami property raided the same day as Carvalho, according to public records cited by the Los Angeles Times. The woman, Debra Kerr, reportedly had close ties to Carvalho during his tenure leading Miami-Dade County Public Schools.

Spokesperson Jim Marshall confirmed to local media Miami Herald that "we searched a residence in Southwest Ranches today as part of this matter and have since cleared the scene."

FBI RAIDS HOME AND OFFICES OF MAJOR LOS ANGELES SCHOOL DISTRICT SUPERINTENDENT

In 2023, Carvalho secured a contract with AllHere to develop an AI chatbot called "Ed," designed to help address student issues such as absenteeism.

It ultimately collapsed in 2024 after its founder, Joanna Smith-Griffi, was accused of embezzling funds amid data privacy risks and whistleblower concerns. She was later charged with securities fraud, wire fraud and identity theft.

Kerr further claimed in AllHere's bankruptcy court filings that the company owed her commissions for helping secure its deal with LAUSD, according to education-focused outlet The 74. 

While federal officials confirmed that search warrants were conducted Wednesday, they declined to reveal the nature of the investigation, noting that the warrants remain under seal.

However, sources told the LA Times that the investigation fell under the broad category of financial issues, and that the raid focused on Carvalho rather than the California school district.  

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LAUSD released a statement saying the district is fully cooperating with federal officials.

"The LAUSD Board of Education understands that today’s news has raised questions across our school communities," it said. 

"The Board’s priority remains ensuring that our students, families, and employees experience a safe and welcoming learning environment. Teaching and learning continue across our schools. Los Angeles Unified continues to stay focused on our responsibility to serve students and our families."

The superintendent has led the nation’s second-largest school district since 2022, overseeing the education of roughly 400,000 students. He was also unanimously reappointed to the position in September 2025.  

Before moving to California, he spent 14 years leading Miami‑Dade County Public Schools, the nation’s fourth-largest school district. 

Wednesday’s raids mark the latest controversy to engulf Carvalho.

In 2020, he helped secure a $1.57 million donation from a company that had a pending contract with the district, the Miami Herald reported.

The funds reportedly went to an education nonprofit he founded, and the company’s online learning program, which was ultimately plagued with problems, was quickly scrapped.

In June 2021, the school’s inspector general determined that the donation, intended to benefit teachers, did not violate any policies but created the "appearance of impropriety," the outlet said. The foundation was subsequently urged to return the funds, which reportedly had been distributed to teachers as $100 gift certificates.

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The Federal Aviation Administration (FAA) restricted flights Thursday near Fort Hancock, Texas, after a U.S. Customs and Border Protection (CBP) drone was reportedly shot down by a laser sytem operated by the Pentagon.

While government agencies have not identified who the drone belonged to, top Democrats on the Transportation and Infrastructure Committee released a joint statement Thursday evening claiming the drone belonged to CBP.

U.S. Reps. Rick Larsen, Bennie Thompson and Andre Carson said their "heads are exploding over the news" that a CBP drone was shot down by the Pentagon with "a high risk counter-unmanned aircraft system."

The legislators added that this incident is "the result of [the White House's] incompetence" after a "short-sighted" decision to "sidestep a bipartisan, tri-committee bill to appropriately train C-UAS operators and address the lack of coordination between the Pentagon, DHS and the FAA."

REPUBLICANS RAISE ALARM OVER US VULNERABILITY TO MASS DRONE STRIKES AFTER ISRAEL-IRAN CONFLICT

In a joint statement provided to Fox News Digital, the Department of War, CBP and the FAA said the DoW used counter-unmanned aircraft system to respond to a "seemingly threatening unmanned aerial system operating within military airspace."

The departments said the engagement took place "far away from populated areas and there were no commercial aircraft in the vicinity," adding they "will continue to work on increased cooperation and communication to prevent such incidents in the future."

The departments said they are "working together in an unprecedented fashion to mitigate drone threats by Mexican cartels and foreign terrorist organizations at the U.S.-Mexico border."

"The bottom line is the Trump Administration is doing more to secure the border and crack down on cartels than any administration in history," the statement added.

FBI RAMPS UP COUNTER-DRONE EFFORTS AS PATEL WARNS OF GROWING THREATS FROM CRIMINALS, TERRORISTS

Congressional aides told Reuters that the Pentagon reportedly used the high-energy laser system to accidentally shoot down the CBP drone near the Mexican border, an area that frequently sees incursions from drones believed to be operated by Mexican drug cartels.

The FAA told Fox News Digital that a temporary flight restriction (TFR) was "already in place" around the Fort Hancock area and that the TFR "has been expanded to include a greater radius to ensure safety." 

The restriction does not impact commercial flights, the agency said.

The FAA said in a Notice to Air Missions (NOTAM) that airspace around Fort Hancock was temporarily restricted for "special security reasons."

The restriction comes a couple of weeks after the FAA grounded flights to and from El Paso International Airport for 10 days before lifting the order roughly eight hours later.

A Trump administration official previously told Fox News that the initial lockdown came in response to "Mexican cartel drones" that breached U.S. airspace.

A U.S. official later confirmed that the U.S. military had shot down what was later determined to be a party balloon near El Paso.

Fox News Digital reached out to the White House for comment and was directed to the joint statement provided by the Department of War, Customs and Border Patrol and Federal Aviation Administration.

Fox News Digital's Anders Hagstrom and Reuters contributed to this report.

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Over the past few weeks, there has been great speculation regarding the growing unrest in Iran and what action, if any, the United States will take in response. One fact that remains clear is that the Iranian regime finds itself at its weakest point since 1979. As such, the world has reached a pivotal crossroad — one that will define the course of history for generations.

First, let’s examine how we got to this point. After the attacks of October 7, Israel was determined to give new meaning to the phrase "Never Again" and has relentlessly gone after the terrorist networks that perpetrated the attack. With assistance from the United States, they tremendously degraded not only the nuclear capability, but also the missile capability and general military readiness of Iran. It is ironic to me that one of the main reasons Iran is so crippled stems from October 7, yet it serves as a silver lining that has sprung from one of the greatest atrocities in modern history, nonetheless.

The second major factor is that the people in Iran have risen up and taken to the streets by the millions. Daily life is miserable, and with no viable economic growth potential, the future remains hopeless as long as the ayatollah stays in power. The bravery of the protesters, combined with the military thrashing given by Israel and the United States, has placed this regime at a tipping point.

MORNING GLORY: WHAT WILL PRESIDENT DONALD TRUMP DECIDE TO DO WITH IRAN?

The next question, arguably most important, is where do we go from here? President Donald Trump has two lines in the water: a diplomatic line and a military line. While diplomatic negotiations are always worth pursuing within reason, my ultimate hope is that regime change will be achieved. This will come about in one of two ways: either the current regime changes its ways — which I find unlikely — or the Iranian people will take over once the regime falls.

To those who resist regime change: why do you wish to see this regime continue as it is? The ayatollah and his henchmen slaughter people for protesting, they beat young women to death for wearing their headscarves improperly, and they have overseen the largest state sponsor of terrorism for decades. Who wants that to continue? I certainly don’t, nor do the Iranian people. The people are the ones demanding regime change, and we should stand behind them.

When asked by the world media what the protesters in Iran should do, President Trump boldly said, "Keep protesting. Help is on the way." I believe that to be the correct statement, and it will be historical in nature if the regime collapses.

Trump’s support for the protesters, in conjunction with America’s display of strength in Operation Midnight Hammer, has created the largest opportunity for peace and prosperity in the Mideast in over 1,000 years. If this regime is replaced, normalization between Saudi Arabia and Israel becomes possible again. The people of Iran will chart their own destiny, and terrorist networks across the region, such as Hezbollah, Hamas, and the Houthis will atrophy even further. My trip last week to Israel, the UAE and Saudi Arabia — three states facing threats from Iran and its proxies — reaffirmed to me that each of these possibilities are not only attainable, but would be extremely beneficial to the United States and our allies.

TRUMP’S LEADERSHIP CREATES 'RARE OPPORTUNITY' FOR CHANGE IN IRAN, FORMER IRANIAN POLITICAL PRISONER SAYS

On the other hand, we must remember who we will be forced to reconcile with if the regime holds. At the helm is the ayatollah, a religious zealot who orchestrated an assassination attempt on President Trump’s life. When he chants death to America and death to all the Jews, he means what he says. If the ayatollah remains in charge after all this bluster, I fear the problems that will arise will haunt the region for decades and America even further.

With the fate of millions at stake, I am praying for President Trump as he makes one of the most consequential decisions any president can make. I know President Trump to be a man of his word. He is reluctant to get entangled in wars with no end, yet unafraid to use force.

CLICK HERE FOR MORE FOX NEWS OPINION

It is my strong view that history is watching every move we make. If we follow through by sending help to the protesters risking their lives, we will have a 21st Century Berlin Wall moment. Ronald Reagan's determination to stand up to communism paid dividends for the entire world when the Soviet Union crumbled under its own weight. What followed was a new birth of freedom around the globe, liberating millions who knew nothing but oppression.

If the ayatollah falls, it will set in motion a similar sequence of events across the Middle East. All the terrorist proxies will be left hanging, the Abraham Accords will expand exponentially, the normalization of relations between Saudi Arabia and Israel will be back on the front burner, and the Iranian people will come to know what all human beings desire most: freedom. The ripple effects of this regime’s destruction will bring forth tremendous, positive change across the region that will echo across the world.

Only time will tell what will happen next. For now, we must be smart, and we must be bold.

CLICK HERE TO READ MORE FROM SEN LINDSEY GRAHAM

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An official with the Department of Homeland Security told state election officials Wednesday that federal immigration agents will not be stationed at polling locations during the November midterm elections, as some Democrats have warned the Trump administration could attempt to interfere in the elections through intimidation or racial profiling.

Heather Honey, DHS' deputy assistant secretary for election integrity, told secretaries of state on a call that "any suggestion that ICE will be present at any polling location is simply not true," according to Arizona's Democrat Secretary of State Adrian Fontes.

A spokeswoman for Oregon Secretary of State Tobias Read, also a Democrat, said Honey likewise assured officials that immigration agents would not be stationed at polling locations. Kentucky Secretary of State Michael Adams, a Republican, also posted on X that DHS "confirms to Secretaries of State that ICE agents will not be at voting locations this year."

Honey, who has previously endorsed claims that President Donald Trump won the 2020 election against former President Joe Biden, participated in the call, which also included representatives of the FBI, US Election Assistance Commission, Postal Service and other federal agencies to discuss coordination ahead of the midterms.

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Fox News Digital has reached out to DHS for comment.

This comes as several Democrats have expressed concern that immigration agents may be placed at polling locations to intimidate Americans who fear they could be racially profiled and targeted if they show up to vote.

"I'm talking about something that I think would be extraordinary in American history, which is uniformed and masked ICE agents encircling polling places," Sen. Elissa Slotkin, D-Mich., said at a recent congressional hearing. "And it's not fantasy, and it's not made up. We need to be clear-eyed about that. These are things that the president and his cabinet have suggested."

The Department of Justice has been filing lawsuits seeking detailed voter data, though the department has not publicly detailed its specific rationale for each request.

Trump has also renewed his claims that there was widespread fraud in the 2020 election, claims that have been widely disputed and rejected by courts, and has called on administration officials to investigate that election.

Earlier this month, the FBI executed a search warrant at an election office in Fulton County, Georgia, seizing ballots and other voting records from 2020, according to local officials. A Democratic stronghold, Fulton County includes Atlanta. The Peach State went to Biden in 2020, but Trump carried the state in 2024.

Democratic officials and public interest lawyers across the country have been concerned for months about the possibility of Trump's interference in the midterms voting and ballot counting.

Democrats have pointed out that Trump was willing to attempt to overturn his 2020 election loss, pardoned those involved in the Jan. 6, 2021, Capitol riot and has filled his administration with allies who backed his attempts to overturn the election defeat.

The U.S. Constitution affirms that states run elections, not federal officials. Most states have their Secretary of State oversee elections.

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Participants on the call said Democrat secretaries of state asked Honey several questions about the administration's cuts to election security funding and its efforts to root out noncitizen voting, which is already illegal and rare, as well as concerns about federal law enforcement officers appearing at polling places.

The White House has dismissed those concerns, saying there was no disruption during last year's election when Democrats performed well.

During a congressional hearing earlier this month, Acting Immigration and Customs Enforcement Director Todd Lyons and Customs and Border Protection Commissioner Rodney Scott both said they were not involved in any efforts to patrol voting places.

The Associated Press contributed to this report.

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North Korean leader Kim Jong Un said Thursday that his country could "completely destroy" South Korea if it feels threatened, escalating rhetoric while ruling out renewed talks.

Speaking at North Korea’s week-long Ninth Congress of the ruling Workers’ Party in Pyongyang, Kim labeled South Korea the "most hostile enemy" and said "the conciliatory attitude that South Korea's current government advocates on the surface is clumsily deceptive and crude," according to state media Korean Central News Agency (KCNA).

Kim said North Korea "can initiate arbitrary action" if South Korea engages in "obnoxious behavior" directed at his country, dismissing recent efforts by Seoul to improve relations.

"South Korea's complete collapse cannot be ruled out," Kim said, according to KCNA.

TRUMP SAYS HE'D BE WILLING TO EXTEND ASIA TRIP TO MEET WITH NORTH KOREA'S KIM JONG UN

During the congress, Kim outlined sweeping five-year policy goals centered on expanding North Korea’s nuclear arsenal. The country is believed to possess around 50 warheads and enough fissile material to produce up to 40 more, according to an estimate last year from the Stockholm International Peace Research Institute.

The North Korean leader said the country's "international status has risen extraordinarily."

"It is our party's firm will to further expand and strengthen our national nuclear power, and thoroughly exercise its status as a nuclear state," Kim said, according to KCNA. "We will focus on projects to increase the number of nuclear weapons and expand nuclear operational means."

NORTH KOREA RELEASES IMAGES OF DEVELOPMENT OF NUCLEAR-POWERED SUBMARINE

Kim laid out plans for North Korea to develop more advanced intercontinental ballistic missiles capable of underwater launches, along with artificial intelligence-driven weapons systems and unmanned drones, KCNA reported.

Kim, who met with President Donald Trump three times during Trump’s first term, signaled he may be open to future negotiations with Washington but placed responsibility squarely on the United States.

"Whether it’s peaceful coexistence or permanent confrontation, we are ready for either, and the choice is not ours to make," he said.

NORTH KOREAN LEADER KIM JONG UN'S DAUGHTER SEEN AS FUTURE SUCCESSOR: SPY AGENCY

Kim said that if the U.S "withdraws its policy of confrontation" with North Korea and acknowledges the country's "current status," there would be "no reason why we cannot get along well with the U.S."

Following the congress, Kim’s teenage daughter attended a military parade in Pyongyang on Wednesday, according to KCNA. Ju Ae, believed to be 13 or 14, was photographed standing beside her father and senior military leaders.

Her appearance comes after South Korean media reported that Kim recently gave her a leadership role in the regime’s powerful "Missile Administration," which oversees Pyongyang’s nuclear forces.

Fox News Digital's Emma Bussey, along with Reuters and the Associated Press contributed to this report.

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Sen. Markwayne Mullin, R-Okla., on Tuesday urged spring breakers with plans to visit Mexico to cancel their trips due to violent clashes in the country triggered by the Mexican army's killing of cartel leader Nemesio Rubén Oseguera Cervantes, known as "El Mencho," earlier this week.

Mullin made the comments during an appearance on CNBC's "Squawk Box," in which he said his chiropractor was still planning to visit a popular tourist destination in Mexico.

"Anybody that’s planning on going to Mexico for spring break … I mean, my chiropractor called me yesterday and said he’s still planning on going to Cancún, I said, 'Are you crazy?'" Mullin said.

"No one should be going down there right now, it is very volatile and the United States is laser-focused on watching what’s taking place," he continued.

WHO IS EL MENCHO? INSIDE THE RISE OF CJNG’S FALLEN KINGPIN AND THE CARTEL HE BUILT

The senator's comments come after Mexican troops conducted operations on Sunday in Tapalpa, Jalisco, targeting El Mencho, a former police officer who became the leader of the Cartel de Jalisco Nueva Generación, which U.S. authorities have identified as a major supplier of fentanyl to the United States.

El Mencho carried a $15 million U.S. bounty and rose to power following the arrest of Joaquín "El Chapo" Guzmán, the former head of the Sinaloa Cartel. Over roughly the past 15 years, the Cartel de Jalisco Nueva Generación has expanded from a regional criminal group into a global trafficking organization operating from its stronghold in Jalisco.

The Mexican Defense Department said the operation was conducted as part of bilateral coordination and cooperation with the U.S., and that U.S. authorities provided complementary intelligence that contributed to El Mencho's killing.

After El Mencho's death, cartel members burned cars and blocked roads in several Mexican states. Violent clashes were also reported in parts of western Mexico.

Mexican authorities later said that the security situation had been "stabilized."

"The security situation has now stabilized following targeted operations in Jalisco," the Mexican Embassy in the U.S. said on Tuesday.

"Federal and State authorities are proceeding to reopen transit corridors and restore public services smoothly," the embassy continued. "Airline operations are normal, and international carriers are resuming flights today. Puerto Vallarta International Airport has reopened to domestic traffic."

The embassy added: "If traveling through Jalisco, some local security measures remain in place, while authorities are restoring airport operations to full capacity. We are working with international partners to ensure safety and stability at all transit hubs and tourist destinations."

But the U.S. State Department’s travel advisory for Mexico remains in effect. The U.S. government earlier issued a shelter-in-place order for Americans in Mexico, but that order has since been lifted.

STATE DEPT SLAMMED WITH HUNDREDS OF CALLS FROM AMERICANS TRAPPED IN MEXICO

The Cartel de Jalisco Nueva Generación is considered the most powerful cartel in Mexico with an estimated 19,000 members and operations across 21 of the country's 32 states.

The Trump administration designated the cartel as a foreign terrorist organization.

Mullin said on Tuesday that cartels splitting after Mexico's operation is a "great opportunity for us, and Mexico, to take them all out."

"Now, are we going to eliminate all the drug trafficking in the world? Absolutely not. But can we get a handle on it again? Absolutely," he added.

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