Oil and gas giant ExxonMobil is considering registering in the Lone Star State after 144 years in New Jersey.

The company announced the news Tuesday in a proxy filing. Its headquarters are already in Spring, Texas, so the shift would put its legal and physical base in the same state. Exxon Mobil Chairman and Chief Executive Officer Darren Woods also explained Texas’ appeal to businesses in Tuesday’s news release.

“Over the past several years, Texas has made a noticeable effort to embrace the business community. In doing so, it has created a policy and regulatory environment that can allow the company to maximize shareholder value,” Woods said. “Aligning our legal home with our operating home, in a state that understands our business and has a stake in the company’s success, is important.”

This sentiment was echoed in the filing.

“The Board believes Texas legislators, judges and juries who might make decisions that impact Exxon Mobil are generally more familiar with our business and operations,” ExxonMobil stated.

Investors will vote on the transfer in May during ExxonMobil’s annual shareholder meeting.

Another motivating factor may be the legal battles the company has faced in recent years. In 2022, the State of New Jersey sued Exxon Mobil and several other major oil companies for allegedly misleading the public about climate change and the environmental impacts of fossil fuels; the case was later dismissed. Meanwhile, in Texas, a 2025 law now requires investors to own at least $1 million in stock before filing a shareholder proposal — adding to the state’s desirability for large corporations.

Along with business-friendly laws, the Lone Star State also has one of the most business-friendly tax systems in the country — with no personal income tax and no traditional corporate income tax. It also offers lower operating costs, a large workforce and economic growth, an expansive industry ecosystem and government incentives. These factors increase profitability and reduce regulatory and legal risks.

Here is a handful of companies to move headquarters to Texas over the past few years: