Yogi said:
I think Waco's window has closed in terms of being a white collar town in the Texas Triangle. There's just too many competing metros for these types of things.
Waco's economic reality is blue collar, manufacturing, warehousing, construction, and education jobs.
There may be some potential for service sector jobs, but you're not going to see too many HQ's move to Waco. The support and infrastructure just aren't there.
Outside of Austin, Waco is the second largest metro in Central Texas with a metro population of over 302,000, but consider that Temple-Killeen has over 476,000 with Temple poised to go over 100,000 this year. (Aggieland has a little over 277,000 by comparison.)
The fact of the matter is Waco not only has to compete with the major metros, but also the numerous metros in the State between 100,000 and 500,000 residents.
And none of those metros in our demographic are drawing white collar jobs, either. So, there's nothing wrong with trying to attract them here, but Waco just doesn't have what it takes to make it stand out, and it is the slowest growing metro in the area to boot. So, our chances just aren't as great to bring in corporate jobs.
Now, say Magnolia becomes an national empire, then Waco could serve as a reasonable HQ, but most HQ's in Waco would have to be homegrown.
I disagree.
I would think that as land gets sparse in other areas (Austin, DFW, Houston, etc.), companies flee high tax states/cities and traffic gets worse companies will keep looking to move their headquarters to less populated areas.
Like Exxon did with their new headquarters, companies that have left Cali and NY, all the companies that have moved to Frisco over the last ten years or so, etc.
Waco was rumored to have been in the running for a few companies to move their headquarters here or at least partial headquarters and plants- like Catepillar.
I think many of the reasons you list could also be reasons to entice a company to move here- coupled with things like good area schools, 3 higher education spots in town (BU, MCC (and their partnerships with TT/Tarleton) and TSTC), cheap land, tax incentives the city/county would give, etc.
As for Magnolia they are already a national empire.... but that is a different thread.