Austin has nabbed more business from California, with a bio-pharmaceutical start up relocating to the city and a software developer announcing that it will open a regional office here.
Xeris Pharmaceuticals Inc., which is developing injectable products to treat endocrine and metabolic diseases, announced that it would move its headquarters to Austin from Larkspur, Calif.
Chief operating officer Yash Sabharwal said the company’s CEO was drawn to Austin’s entrepreneurial culture and its resources in the life sciences and biotech fields.
“And from a business perspective, (Texas) is the business-friendliest state in the country,” he said.
The company was admitted into the Austin Technology Incubator and is working on commercializing its first product, which treats low blood sugar in diabetics.
Xeris currently has three employees, and long-term goals call for 12 to 15 employees over the next two to three years, Sabharwal said
The company is also raising money and is “very close to a number of sizable investments,” he said.
Meanwhile, software company InteSolv is opening a regional office in Austin while keeping its headquarters in Visalia, Calif. The Austin office will focus on software development and technical support for the company, which works with a number of Adobe products.
It wasn’t clear how many people will work in the new office, but InteSolv is currently looking for .Net developers and content developers in Austin.
“We are thrilled to be here,” said InteSolv senior vice president of business development Frank Rogers. “To sustain our growth, it was imperative to find a second place for InteSolv to call home and Austin fits us to a ‘T.'”
Dave Porter, senior vice president for economic development at the Greater Austin Chamber of Commerce, said the chamber was involved in site selection for both companies and helped “sell them on the Austin region.”
While neither employer is particularly large at this point, “I’ll take 10 of these in different industry sectors, versus one larger one, because it helps the overall economy,” he said.
InteSolv and Xeris joined a parade of California companies that have established operations in Austin.
Many have cited the high costs of doing business in California and Austin’s strong talent base as reasons for their decisions.
Last month, a delegation of California legislators and Lt. Gov. Gavin Newsom visited Austin to find out what their state needed to do to keep jobs from leaving.
They met with business and government leaders to find out why Texas, and Austin, had become so attractive to California companies looking to expand.
Just a few days before the delegation arrived, the Austin City Council approved an incentives package for eBay Inc. and its PayPal subsidiary, which plan to add 1,000 jobs in Austin over the next decade.