WSJ Editorial: Last year, California business headquarters left the state at TWICE their rate in both 2020 and 2019, and at THREE times their rate in 2018. In the last three years, California lost eleven Fortune 1000 companies, whose exits negatively affect the state’s economy. Details are in a report by the Hoover Institution and Spectrum Location Solutions, which cites a litany of #Californiaproblems, including burdensome work rules, litigation risks, high costs for labor and workers’ comp insurance, oppressive taxes, surging electricity rates, a permitting morass, diminishing quality of life, lousy public schools & exorbitant housing costs that make it difficult to retain employees. (The editorial is online today; possibly to be in print in a day or two.) See the full editorial at California’s Corporate Exodus.
More information about the report is available at Why Company Headquarters Are Leaving California in Unprecedented Numbers (a link to the full report in PDF is here). Co-authors are Joseph Vranich of Spectrum Location Solutions and Lee Ohanian, Senior Fellow, Hoover Institution and Distinguished Professor of Economics, UCLA. Spectrum Location Solutions conducts data-driven evaluations to identify optimum locations for company relocations, expansions or consolidations.