Business Exodus From California Is More Troubling Than Sanctuary Policies
May 4, 2018
http://chiefexecutive.net/business-exodus-california-troubling-sanctuary-policies/
California is facing a bigger issue than its tussle with the Federal government over sanctuary cities. According to a November report from the U.S Census Bureau, the Golden State has had 142,932 more residents exit to live in other states than people arriving from other states. This domestic outmigration was the second largest outflow in the U.S. behind New York and New Jersey. It was up 11 percent (13,699 net departures) compared to 2015.
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What is more serious is the number of California-based companies that have left or signaled their intention to leave the state. Last year marks the first anniversary of the announcement that Carl’s Jr., a California burger icon for more than six decades, was relocating its headquarters to Nashville. It’s a symbol for what’s become a stream of businesses that have quit California. What was once an almost quiet exodus of companies now looks more like a stampede.
Among the roll call of businesses abandoning California for more hospitable business environments includes Toyota which has left Torrance and will complete the move of its U.S. headquarters to Dallas in the coming month. Also having left for Dallas is Jacobs Engineering Group, $6.3 billion firm formerly based in Pasadena that has more than 230 offices across the world, employs 60,000 and generates $12 billion in annual revenue.
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Mad Poet Strikes Again.
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