This is a record. To lose 1,800 companies in one year? How can that be? What’s really amazing is that taxes aren’t the only reason. But first lets look to where they’re going. Here’s a list of destinations and what counties are losing the most.
- Texas, which has held the first-place distinction for at least a decade
- North Carolina
The top California counties losing the most companies were:
- Los Angeles
- Santa Clara
- San Francisco
- San Diego
- San Mateo
- San Bernardino
I see that five of the 10 states are southern states. In the past nine years ( 2016 is the last year these stats are available ) 13,000 companies have left. What’s that mean in dollars and cents? Over 76 billion in Capital funds spent elsewhere. 2750,00 jobs. Gone. And finally 133 million square feet of building space. I can just imagine the tax money lost year in and year out. Bad laws, Taxes, expensive housing, high utilities, labor costs, and the list goes on.
So what happens when businesses leave? What happens when the middle class shrinks? What happens when you have a open border policy? A third of the nations welfare recipients. Is there any relief in site? Not when other states are business friendly and want you for what you provide, not how much more in taxes and regulations you’re willing to put up with.
Read this from Investors Business Daily.
A new report from business-relocation expert Joe Vranich says that the business climate has gotten so bad that, for the first time ever, he is actively telling clients “to leave the business-hostile state because its business climate continues to worsen.”
And, no, he isn’t a hypocrite. He’s followed his own advice. Earlier this year he relocated his own successful consulting business from Irvine, California to Cranberry Township, Pa., a suburb of Pittsburgh.
Maybe that shouldn’t come as a surprise. It’s not exactly news that California’s legislature is the most left-wing, high-tax and business-unfriendly in the nation. California is a virtual one-party state. Lawmakers and regulators recently even tried to tax cellphone texts, but push back from voters made them drop the plan just this week.
So in closing, why would you want to stay knowing that other states want you and openly come and seek you out. What say you?
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I have been writing on and off the past 46 years. First piece I ever wrote was my high school underground newspaper. A father of two twenty somethings. Happily married and presently living in Ohio.