Tesla CEO Elon Musk announced the company is moving its headquarters from Palo Alto, California to Austin, Texas.
Musk made the announcement during the company's 2021 Annual Meeting of Stockholders, the meeting was presented from Tesla’s Gigafactory in Austin on Thursday.
Musk announced that southeast Travis County would be the site for the company's new gigafactory just last year. The projected move was expected to create thousands of new jobs and generate over $1 billion in capital investment.
Texas Gov. Greg Abbott welcomed the company after the announcement.
“The Lone Star State is the land of opportunity and innovation," said Abbott.
Austin Mayor Steve Adler released a statement welcoming the company home and said "Tesla fits right in," to the city's environmentally focused culture.
“It’s a tech company that creates the clean manufacturing, middle-skill jobs Austin needs. We’re one of the safest big cities, with a strong innovative, entrepreneurial, environmentally focused culture and Tesla fits right in. Tesla is now an even larger part of a community that works together to meet our challenges and to enjoy a magical city,”
Musk promised the creation of an "ecological paradise," as the company displayed a logo that read "don't mess with" under a seemingly unified 'T'.