Monthly Archives August 2021

Forbes Has Surprising Headline for Company HQs Exiting California

“Businesses Are Fleeing California Along With Its Residents, And President Biden Should Pay Attention” That’s the strong headline that Forbes attached to its story about the Hoover Institute’s report entitled, “Why Company Headquarters Are Leaving California in Unprecedented Numbers,” issued a few days ago. A few excerpts: “A new study finds that business headquarters are also leaving California, and at an increasing rate. Economist Lee Ohanian of the Hoover Institution at Stanford University and Joseph Vranich, president of the site selection consulting firm Spectrum Location Solutions, collected data on the relocation of California business headquarters from January 2018 to June 2021.
Read More

Companies Keep Moving HQs Out of California – Ten More Left in July and August

By Joseph Vranich The rate of California companies moving their headquarters out of state is showing no signs of slowing: Ten more relocations were discovered only one day after the Hoover Institution and my firm, Spectrum Location Solutions, released the report “Why Company Headquarters Are Leaving California in Unprecedented Numbers.” The announcement and summary is here. In the report, we predicted that the exits of California company headquarters is showing no signs of slowing, and in an interview with the Triangle Business Journal I said that more relocations are likely unless California becomes friendlier to businesses. Five of the headquarters
Read More

New Study: Company Headquarters Leaving California in Unprecedented Numbers for States With Lower Taxes, Sensible Regulations and Friendly Public Officials

McKinney, Texas (August 24, 2021) – For the first six months of 2021, the number of companies relocating their headquarters out of California is running at twice the rate of recent years and is showing no signs of slowing, according to a study issued today by Spectrum Location Solutions and the Hoover Institution. The research provides the most detailed and comprehensive data on relocations of California business headquarters from 2018 to the first half of 2021, documenting that departures during the first half of this year are double the rate for each of the three previous years. The report, Why
Read More

Another Innovative Company Leaves California: This Time for the Magnolia State

California Gov. Gavin Newsom likes to talk about innovative companies, but he is silent when they pack up and leave California’s hostile business climate. Well, today, we can report on another one that is “hitting the road” – this time for a state that is nearly 2,000 miles away. Ocean Aero, which builds and services ocean-going autonomous vehicles, is relocating its manufacturing headquarters and operations from San Diego to Gulfport, according to the Mississippi Development Authority. The project is a $4.65 million corporate investment that will create 45 jobs by the end of this year. The company’s products run exclusively
Read More

Still Another California Company Moves Headquarters to the Lone Star State

Commercial enterprises of all types continue to leave business-hostile California for friendlier locations – states that treat companies with respect and work with them on a collaborative “win-win” basis. We have another example of that today. Texas Gov. Greg Abbott announced that MD7, LLC, a mobile infrastructure consultancy, will relocate its corporate headquarters to Allen, Texas. The project will create 218 new jobs and more than $6.8 million in capital investment. The company had been headquartered in San Diego. MD7 will join an already thriving tech and telecommunications industry in Texas generally and specifically in the Dallas metro area. “We
Read More