Tech companies are moving to Texas and other states. Facebook says "employees who want to stay in California can work remotely from there for the rest of the year."

Facebook, Apple, Tesla, HP and Dell are moving their operations to Texas, spurred by remote work and a lower cost of living.<br><br>Apple CEO Tim Cook announced plans last month to build a second campus in Austin, Texas. Facebook CEO Mark Zuckerberg, meanwhile, said this week that the social media company could have half of its 50,000-strong workforce working remotely permanently in the next five to 10 years. That includes employees who want to stay in California but work remotely from there for the rest of the year. It’s the latest sign of a shift away from Silicon Valley that’s been spurred by the pandemic and a lower cost of living in states such as Texas.<br><br>Dell Technologies CEO Michael Dell and Hewlett-Packard Enterprise CEO Antonio Neri are also building new headquarters in Texas. Tesla CEO Elon Musk, meanwhile, announced plans last month to move the car company's headquarters from Palo Alto to Austin, Texas.