SAN FRANCISCO—Financial technology company Hewlett Packard Enterprise (HPE) announced on Tuesday, December 1 that it will relocate its global headquarters from Silicon Valley to Houston, Texas.

In its fourth quarter press release, the company called Houston “an attractive market to recruit and retain future diverse talent” and said its future headquarters is currently under construction.

HPE also said that its revenue is back to “pre-pandemic levels of $7.2 billion, up 6% from the prior quarter and flat from the prior-year period.”

Houston Mayor Sylvester Turner said on Twitter that HPE’s announcement is “something we should all celebrate” and said Houston’s efforts to “bolster” its “position as a leading digital tech hub & global headquarters city are paying off.”

Texas Governor Greg Abbott took to Twitter regarding HPE’s announcement and called the state “the best place in America to do business.”

HPE is one of the oldest technology companies in the Bay Area.  Its current San Jose campus will remain put and the move to Texas will be voluntary for workers. There will be no layoffs.

HPE CEO Antonin Neri said on the company’s website that the on-going coronavirus pandemic “changed how and where we will work.”

In addition, Neri explains why HPE chose Houston as its future global headquarters, saying the city “has long been our largest U.S. employment hub” and states that Houston is America’s largest city as well as “the most diverse city in America.”

HPE’s new headquarters should be completed in the year 2022.