A large chunk of our company relocated to Raleigh, NC - so we also moved our HQ here.

They literally did a spreadsheet with different metrics they were looking for (business environment, they knew there were only some weather conditions they'd be willing to go for, looked into schools & safety for their young kids, taxes, house prices etc) graded and analyzed that data (we're an analytics consultancy so if you think about it, it makes sense :) ).

After narrowing down to 2 or 3 locations, they ended up with Raleigh. About 4 (including the first two co-founders) moved here initially, together with their families (wife & 4 kids each). Few months later others joined the team here as well, families included. We still have some collages working from Bay Area and we support them, but most of the team is here now.