Mike Lateur Quoted in the Austin Business Journal: Hurricanes can push corporations to relocate

Mike Lateur, a managing director in Duff & Phelps' Site Selection and Incentives Advisory practice, is quoted in the Austin Business Journal discussing the possibility of Houston corporations relocating to Austin in the aftermath of Hurricane Harvey ("Harvey"). The article examines the expected costs of Harvey, Houston's risks and major factors when considering relocation.

Harvey has proven to be a catastrophic, unprecedented storm, and its impact has worsened as the storm has continued and surpassed multiple estimates of worst-case scenarios. Despite this, it is estimated that only a handful of operations will move out of Houston after Harvey, and few are likely to move to Austin. Houston is "one of the largest and most diverse cities in the world," said Lateur, so "a mass exodus" would be a surprise. Corporations are mostly focused on how to prepare for the economic recovery and cleanup quickly. That process will take some time, "this type of analysis can take years," Latuer said.

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