Thank you Wall Street Journal for reporting on my new, comprehensive study of the who, what, when, where and why companies are leaving California for business-friendly locations. Their editorial, entitled, “High-Tax State Exodus” said:
Jobs and businesses have fled California’s high taxes and regulation. A study by consultant Joe Vranich estimates that 1,800 businesses shifted jobs or capital out of state in 2016 and about 13,000 companies left the state since 2008. In the last decade $76.7 billion in capital and 275,000 jobs have moved out of the state.
Considering that I worked on the report for two years (!), this kind of recognition is really gratifying.
I also appreciate today’s Dallas Morning News for quoting that “from 2008 to 2016, Dallas ranked sixth nationally as a winning destination of companies fleeing California” [a finding in his] “637-page report chronicling the moves.” I’ll add that Texas was the No. 1 state to which California companies moved to each year for the last nine years that I studied.
Now, based on the number of announcements I’ve seen in just the September – December period, it appears that California company exits are accelerating. I’m hardly surprised because I looked ahead and forecast that California’s business environment will only worsen based on the business-unfriendly temperament of Gov. Gavin Newsom and his Democrat allies in the legislature.
Note: Anyone purchasing this new study is entitled to a one-hour no-cost, no-obligation phone session with Joe Vranich. The offer applies regardless of whether you are with a Corporation, Small Business or Economic Development Agency. See a summary of the report here:
Joe Vranich provides location advisory services whose motto is “Helping Businesses Grow in Great Locations!” His company is Spectrum Location Solutions LLC, but he also has been known as the Business Relocation Coach. If you found this posting useful, please forward it to a friend and subscribe to Joe’s blog here.