Fox Factory Plans to Move HQ from California to Georgia [Updated]
Fox Factory has announced that it will be relocating its corporate headquarters from Scotts Valley, California, to its existing offices in Hall County, Georgia, by the end of 2018. In addition, FOX plans to relocate its aftermarket bike products distribution, sales, and service operations from Watsonville and Scotts Valley, California, to Reno, Nevada.
Dan S. Robbins, the Head of Corporate Marketing at FOX, clarified that the bike division will be largely unaffected as all the bike OEM sales, marketing, engineering, and development teams will remain in Scotts Valley.
 | We are building a new service center in Reno, which our aftermarket sales and distribution service teams will be going to. That move is to better serve our customers. It gives us more of a one and two day shipping time for the west. We'll have faster turnaround times for service and getting product out of the warehouse to customers. That's the extent of what's going on in the bike world. What we're doing with Georgia is we're moving our corporate headquarters there. Some of our executive level team will be moving out there. What that does is that opens up space here in Scotts Valley, which allows the bike group to grow. We're not pulling them out of here. |
While the CEO and the senior level executives will move to Georgia, the majority of the employees of the Powered Sports who currently work in Scotts Valley will also be remaining in Scotts Valley.
| The main driver is the ability to recruit top-notch talent. There are a lot of good schools out on the east coast, but trying to get a new college graduate to come to California where houses cost a lot of money, versus Georgia, is hard. We're also right next to Silicon Valley, so there is a lot of competition for good engineering talent. It just gives us the opportunity to expand. |
The company said that the new 23-acre site that they've agreed to purchase in Hall County, Georgia, will allow Fox to expand and diversify their manufacturing platform and provide additional long-term capacity to support growth in its Powered Vehicles Group.
| FOX believes the creation of a campus environment in Hall County, Georgia will allow its Powered Vehicle Group to continue to grow efficiently and foster increased innovation and collaboration between its teams and customers. FOX plans to invest up to $50 million in capital expenditures and employ up to 800 personnel over the next five years, dependent on market and general economic conditions in Georgia. This planned capital investment is consistent with the Company’s previously announced capital expenditure expectations in the range of 5% to 6% of sales for 2018 and 2019 to support the demand and strength of its business. |
You can find Fox Factory's press release here.
MENTIONS: @foxfactory
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Lol, doubt very seriously this will benefit the consumer $$$ just FOX.
Contrary to popular belief, companies in the south treat their folks good, they vote regularly to not unionize, and they can live the same or better than they can in the NE or the West Coast.
Gas alone is .75$ gal less average.
The reason we have SO MANY companies coming here is a very favorable business environment, because we can see the logic in collecting (as an example) 10% tax from 7 businesses over collecting 70% tax from 1 company, please don't blame the people who use logic. The money the state is collecting from all the other tax that is a result of people working (sales tax, vehicle tax, property tax etc.) will more than make up the low business tax. Need to stop looking at the business as an EVIL entity who needs to be taxed to oblivion because they show a profit (god forbid) and realize that jobs create taxes and support more businesses in the community.
When are you guys going to blame government inflation instead of the symptom??
I don't know if Fox intends to use any of these tactics to increase their margins, I was simply replying to SnowshoeRider's sentiment.
As far as Fox goes, from what I've heard they are extremely fair and even above average in their compensation and benefits to employees. I seriously doubt Fox's history in regard to treatment of employees is going to magically change and they are going to become a shitty company just because they opened an operation in Georgia. People just want something to bitch about and think they objectively know everything, this is the internet. There is a reason a good amount of movies are now being filmed in Georgia. Including the TV show Halt and Catch Fire which had episodes filmed on the farm that my family leases as a recreational horse barn. There is a reason Porsche opened their North American HQ in Atlanta(back to the movies, did you know the Avengers base was actually the Porsche building?) There is a reason Kubota manufacturers all their utility side x side vehicles for the whole world market in Gainesville. I could go on and on. People need to take their tinfoil hats off.
Fox does what is good for Fox. f*ck your feelings. We all do what is good for us first. That's human nature. Just because you want cheaper Fox forks doesn't mean Fox should cater to your childish dreams. Why do people act like these workers have no other options and Fox is a slave plantation owner?
The market provides
Hope you don't have kids who need schoolin':
www.forbes.com/sites/reneemorad/2018/07/31/states-with-the-best-public-school-systems/#599a8c8d3897
Google is amazing, just try "Why are companies leaving California" CA over taxes and over regulates business- it's really that simple.
I work in Hazardous Waste. I have a pretty firm grip on how insane CA regs are. We get that thank ca for every product in American being labeled as a possible carcinogen.
www.theatlantic.com/technology/archive/2018/06/how-amazon-helped-kill-a-seattle-tax-on-business/562736
I guess you can’t call it slave labor in California when they’re undocumented, homeless, unemployed, and getting free socialist government handouts. It’s a terrible thing actually being able to live in a state where you can afford a house, you know. Your pals left the state for a reason otherwise had it been better to stay they would have.
And I’m not pissed off, just shaking my head feeling sorry for you not knowing any better. The coffee is boiling over and burning on the stove yet you don’t even smell it still ...
Nevermind im sure everyone loves moving away from their families to die. My B!
I’m not going to hold out for cheaper forks in the future.
Repeat after me boys: it's greedy to keep your own stuff; it's not greedy to take from others!
We need to abolish the federal government bring back true freedom. Completely get rid of taxes (thus, welfare/social security programs) and see prosperity explode. Hopefully people learn this time if that's ever accomplished.
www.npr.org/2018/10/01/649701669/the-american-dream-is-harder-to-find-in-some-neighborhoods
well, your name says it all
The article said it anyway: housing is too expensive in CA to attract new talent. Boom.
Quantitative Easing: an expansionary monetary policy whereby a central bank buys predetermined amounts of government bonds or other financial assets in order to stimulate the economy and increase liquidity.
Literally an action between the central bank + government that buttf*cks every individual's savings by devaluing a worthless currency that solely depends on the government to keep its value.
Basically, who/what controls the currency supply? Not f*cking Fox suspensions.
Fox gives you a choice. Here's the price and buy if you want.
Governments/Central banks gives you anal beads. Here's the size and we decide how much to randomly yank or shove in you.
well, your name says it all
Someone doesn't get sarcasm....
Hitler, Stalin and Mao were not "Left wing". They called themselves Socialists, but were Totalitarians. Focused on controlling all aspects of the constituents' lives, including religion (or not allowing) and other beliefs. Basically the worst of the Left and the Right all rolled into one. This can be seen today by the extremes of the GOP and Dem parties - they want to control your beliefs on the Far-Right, and the Far-Left wants to have government take care of all aspects of your well-being - give them all you earn and they will give you food coupons, health care, education, blah, blah... A bit of Socialism is good. It makes for things like Fire Departments, Police, Insurance, roads, state parks where you can ride, etc.... The problem is when government takes money that people voted for for a purpose, and then re-direct the funds to other projects or pockets. CA is very guilty of that. So are a lot of other states, and our Federal Gov't. as well. We, as citizens need to stop voting Party and vote for the person(s) we think will do the best job, whether Dem, GOP or Independent and get our gov't under control.
Rant over...
So The Lovin' Spoonful wanted me to ask you, do you believe in magic?
youtu.be/jUljHEpeIgs
But in this case the bigger trick is how CA manages to continue to pick the pockets of so many businesses. California's economy and regulatory environment is such an absolute joke in so many ways, I really don't think most people have much of a clue what a hassle it is to run a business there. Factor in the housing and competition for talent, and the move is a much easier decision than you'd think.
BTW, our company offers benefits to our employees. As a matter of fact my truck drivers get an annual bonus of 4% of their earnings. I know there are still the stereotypical day labor type agencies out there, but that's not who Fox is working with in CA....
Check out Murray Rothbard's "The Case Against the Fed" and "A Monetary History of the US". The central bank inflation benefits the politically connected (big banks, wall street, and other recipients of government printed money) at the expense of normal folks, especially those retired on a fixed income. Basically they are crooks hiding behind academia (bought and paid for).
Feel free to explain the mechanisms of deflation that have an outcome with long term viability. Anyone who produces anything or carries debt will tell you you're delusional. Is Fox paying cash for their $50 million dollar investment? What's deflation going to do to a company with that kind of encumbrance?
There's so much knowledge available and if this is the conclusion people come to, then there is no way you are convincing/educating them via pinkbike comments.
"I would shed zero tears for corporations" but you expect them to basically shed tears for "workers". Get f*cked Marxist retard
[QUOTE]he has a little hissy fit then goes off into some forum to complain about how dumb everyone is compared to himself [/QUOTE]
I could say the same to you. You asked for "some magical overhead reduction you can key us in on" and I showed you a possible 21% savings just in workers comp costs between CA and GA. So what of your debate about the favorable business environment?
But now we're talking about the value of inflation vs. deflation and the role of the federal reserve.
But I still want to know how deflation is economically viable. Anyone?
Tell me how inflation is better than not having inflation.
Your second argument of inflation being necessary for corporate financing or debt use is completely wrong. Debt has been used and will always be used in periods of deflation, inflation or neither. Also, I never made the argument that we NEED deflation. I'm just saying I think it's unreasonable to fear deflation when we are living in an inflationary environment and have been so for 100 years (again look at the value of a dollar over that period).
mises-media.s3.amazonaws.com/What%20Has%20Government%20Done%20to%20Our%20Money_3.pdf?file=1&type=document
www.huffingtonpost.com/2009/09/07/priceless-how-the-federal_n_278805.html
let me know what you think.
Liberty is key.
Unfortunately liberty and 'common sense"(good book BTW) and conservatism isnt taught, but only this foreign to usa philosophy of socialist/progressivism is championed by those in the coasts with loud mics.
investor.ridefox.com/static-files/2b76698b-1d03-4ea7-8a32-58fc436e6a71
For water lovers, Gainesville sits on the relatively large Lake Lanier, so bring a wakeboard. You're also about five hours from some really good surfing in Charleston, and maybe two hours from some high-quality whitewater rafting.
Regarding politics, the South is a lot like everywhere else: the cities are diverse and accepting, and rural areas can be more narrow-minded. The rural areas of the South can be a bit more narrow-minded than elsewhere, but you will find kind and open-minded people if you look. Further, you can follow my lead and just hide away in your own little forest paradise. Land is cheap, and often cheaper if it's covered in hardwoods. Build a house in the middle of the trees, cut yourself some trails, and smile every time you realize you don't have to worry about money anymore. When you do interact with narrow-minded individuals, don't simply attack them and tell them they are wrong. Tell them why their views are harmful, and give examples and facts. You'll be surprised how well they listen to even-tempered people.
Sincerely,
Progressive guy raised in Alabama and living in Arkansas
P.S. The quality of a Waffle House is positively correlated to the stickiness of the tables. Walk in, put your arms on a table, lift your arms, and only stay if some of your arm hairs remained on the table.
I do miss me some country ham on occasion.
that's a quote from the first paragraph of the press release that Fox released on Global News Wire.
There's a lot going on in Watsonville. Killer brewery right there too.
I haven't been there, yet. But I have been to Alvarado Street in Monterrey ;p
Any guess what the certain corporate functions are?
Hookers n blow
That's a friggin huge company!
Think about payrol every two weeks. More than half a million dollars to employees every two weeks.
Mountain bike products are probably a small percentage of what Fox makes.
Still does anyone care if they moved HQ ?
Nope.
But they have a new and improved damper in the works.
Again.
If the head lines were: Fox is bringing back the coil spring for forks the comments would be about 200 thick.
mountain bike suspension company.
Besides you don't see a lot of fox product outside the MTB area, well, except those big shocks on the raptor
www.canecreek.com/product/helm-coil-29
Coastal towns like the Outer Banks and College towns are the only exception. Otherwise....still redneck central.
I’ll totally admit the cost of living is a MF but can’t say it’s not worth it.......right now. We’ll see how we feel about it when we’re not doing as much outdoor activity as we do now!?
We were lucky enough to spend time in many places growing up as my fathers job moved us a lot. The Outer Banks (Kitty Hawk), Asheville, Chaple Hill, Charlotte...etc. But also we were in some really not great places I couldn’t wait to rid myself of. But anyone thinking that the South isn’t still the South is either ill informed.....or part of the southern problem.
But if you're into cross country or gravel grinding there's plenty.
I will elaborate on the riding in that area of Georgia. It's freaking beautiful country there. Tons of trees and rolling hills. Tons of trails. Very nice people. Not the vertical you have in Santa Cruz but not nothing as the desert man said. It's expanding. The cross country vibe is strong out there. Especially with the youths.
Just keep me away from Atlanta. lol.
Better corporate tax rate.
#MFGA
As someone who just moved to your state, it's sad to see you have this sort of attitude. Hope you vote wisely with both your wallet and your ballot, or California will lose even more businesses like Fox.