Texas No.1 destination for companies leaving California for last 12 years
4 Dec 2019
Texas held the No. 1 rank for attracting California companies – which has been the case every year for 12 years, according to a report by Spectrum Location Solutions. Roughly 660 California companies moved 765 facilities out of state in 2018 and 2019.
"California companies leave because the state's business climate continues to worsen, particularly with the harsh employment, immigration and spending measures that Gov. Gavin Newsom has approved," said Joseph Vranich, the author of the study. "I foresee more exits because California politicians have a level of contempt for business that has reached epic lows."
With no state income tax or corporate income tax, Texas continues to draw businesses from overtaxed California.