The Texas economy is one of the most robust in the world. Wildly profitable companies and ingenious entrepreneurs call this state home, and what happens here influences businesses around the nation. Here’s a slice of the profits, losses, big deals, and backroom decisions happening across Tex
Mi Cabana Es Su Cabana
The parent of the Tex-Mex restaurant chain Taco Cabana announced this week that it will relocate its headquarters to Addison in January. Fiesta Restaurant Group Inc., which is currently based in Miami and also owns Pollo Tropical Restaurants, will receive a $100,000 incentive package from the Town of Addison in exchange for moving there and keeping 55 employees on its local payroll for at least three years, the Dallas Business Journal reports.
Fiesta’s CEO, Timothy Taft, is no stranger to the Texas restaurant industry: He was previously the president and CEO of Whataburger Inc., based in San Antonio.
The Bottom Line: Addison has a reputation for being a restaurant-friendly community—Bar Louie moved there last year, and the north Dallas suburb is also home to the headquarters of Fogo de Chao, Twin Peaks Restaurants, and Razoo’s.
BP: Less Polluting, More Computing
The Houston Business Journal reported this week that BP is moving forward with construction on a new supercomputing center—“the largest commercial research supercomputer complex in the world,” according to the company—at its U.S. headquarters in Houston. After finally settling its oil spill lawsuit for $4.5 billion last month, the London-based energy giant is ramping up its efforts in computing, which will allow it to use global geologic data to “better identify oil and gas exploration targets” and reduce costs by improving efficiency, the newspaper reports.
The Bottom Line: BP plans to invest more than $100 million in supercomputing in the next five years. The new Houston facility is expected to be