Another hi-tech company has given up the ghost and decided to leave Austin for the Dallas suburb of Plano. General Bandwidth, funded by Sevin Rosen and lead by Charles Vogt, is on its second business plan after raising $195MM (revenues are estimated at $9MM). Their new facility can house 75 people (they already have an R&D facility in Richardson with 79 employees).
This loss follows several high profile losses for the city including Tyco‘s departure last year. And one of several big wins for Dallas including Wednesday’s announcement of QI System’s move to the city from Canada. I think we are witnessing a gravitational shift from Austin to Dallas – Austin will still be important, but the resources (human and otherwise) available in Dallas will irresistable for companies seeking a place to live.
[Update: General Bandwidth will be keeping a large workforce in Austin, they are justing moving their HQ to Dallas – a representative from the company called to correct me]