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RELATED: California companies flee business-hostile state in droves (Dec, 2018 -- Investor's Business Daily)
Elon Musk's Tesla to Texas? Calif. business exodus may shift into high gear because of this
https://www.foxnews.com/opinion/elon-mus...uck-devore
EXCERPT: Tesla founder and CEO Elon Musk threatened to move [...Tesla...] out of state — to Texas and Nevada. Neither Texas nor Nevada has an individual income tax and their corporate taxes are lower, as well. With California’s higher taxes, greater red tape compliance costs, higher labor and land costs, and more litigious environment, business analysts estimate that companies can save 32 percent of their operating costs by moving out of California to states such as Texas.
California Gov. Gavin Newsom, a Democrat, gave the clearance for manufacturers in California to reopen on Friday, but Alameda County has extended its local shutdown order indefinitely. The county lockdown order brought Musk’s frustration into the open, as it prevents his flagship Fremont assembly line from reopening. The Fremont location has manufactured cars since 1916 [...] Tesla took over the location in 2010. It’s now California’s last remaining automobile manufacturing facility.
Musk announced via Twitter that “Tesla is filing a lawsuit against Alameda County immediately. [...] “Frankly, this is the final straw. Tesla will now move its HQ and future programs to Texas/Nevada immediately. If we even retain Fremont manufacturing activity at all, it will be dependen (sic) on how Tesla is treated in the future. Tesla is the last carmaker left in CA.”
Musk appears to be channeling his inner Davy Crockett, who after losing his campaign to get reelected to Congress in 1834 said “…you may all go to hell and I will go to Texas.”
Texas immediately welcomed Musk to move [...] California can ill-afford to chase away more jobs ... Even before the virus hit ... John Ghiselli saw California’s deepening financial crunch as likely to lead to further tax increases. He moved to Texas last year and has created a company — Waterloo Capital Private Equity — that will arrange financing to move companies out of California... (MORE - details)
RELATED: Elon Musk defies virus rules, daring arrest
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Thinking of Relocating Your Business to California? Don't! (Nov, 2019)
https://www.kiplinger.com/article/busine...ornia.html
EXCERPT: “I own an IT company with 20 employees on the East Coast, and we are tired of shoveling snow. [...] But I have read about California employers having a gun held to their heads by law firms filing suits ... Many have paid hundreds of thousands of dollars in what appears to be legalized extortion ... What is your opinion? Should we stay where we are, and all go out and buy new snow shovels or sunscreen and swimsuits? Thanks, Jim.”
H. Dennis Beaver: I am embarrassed and horrified by what can only be described as a war on business enabled by my state’s legislature, and I am not a card-carrying, conservative Republican. Any company thinking of relocating here needs to Google “California Legal Hell Hole” and “California Pay Stub Violation Penalties,” then ask itself why the following large corporations — among hundreds — have moved out of California [...]
I spoke with business relocation expert Joe Vranich, president of Spectrum Location Services, which was based in Irvine, Calif., but relocated to Cranberry Township, a suburb of Pittsburgh. He has been tracking the exodus of companies from California and noted that, “A rule of thumb among business site-selection experts is that five companies leave for each one that actually gets reported in the press. So, it’s probable that as many as 10,000 companies have left California in recent years.” (MORE - details)
Elon Musk's Tesla to Texas? Calif. business exodus may shift into high gear because of this
https://www.foxnews.com/opinion/elon-mus...uck-devore
EXCERPT: Tesla founder and CEO Elon Musk threatened to move [...Tesla...] out of state — to Texas and Nevada. Neither Texas nor Nevada has an individual income tax and their corporate taxes are lower, as well. With California’s higher taxes, greater red tape compliance costs, higher labor and land costs, and more litigious environment, business analysts estimate that companies can save 32 percent of their operating costs by moving out of California to states such as Texas.
California Gov. Gavin Newsom, a Democrat, gave the clearance for manufacturers in California to reopen on Friday, but Alameda County has extended its local shutdown order indefinitely. The county lockdown order brought Musk’s frustration into the open, as it prevents his flagship Fremont assembly line from reopening. The Fremont location has manufactured cars since 1916 [...] Tesla took over the location in 2010. It’s now California’s last remaining automobile manufacturing facility.
Musk announced via Twitter that “Tesla is filing a lawsuit against Alameda County immediately. [...] “Frankly, this is the final straw. Tesla will now move its HQ and future programs to Texas/Nevada immediately. If we even retain Fremont manufacturing activity at all, it will be dependen (sic) on how Tesla is treated in the future. Tesla is the last carmaker left in CA.”
Musk appears to be channeling his inner Davy Crockett, who after losing his campaign to get reelected to Congress in 1834 said “…you may all go to hell and I will go to Texas.”
Texas immediately welcomed Musk to move [...] California can ill-afford to chase away more jobs ... Even before the virus hit ... John Ghiselli saw California’s deepening financial crunch as likely to lead to further tax increases. He moved to Texas last year and has created a company — Waterloo Capital Private Equity — that will arrange financing to move companies out of California... (MORE - details)
RELATED: Elon Musk defies virus rules, daring arrest
- - -
Thinking of Relocating Your Business to California? Don't! (Nov, 2019)
https://www.kiplinger.com/article/busine...ornia.html
EXCERPT: “I own an IT company with 20 employees on the East Coast, and we are tired of shoveling snow. [...] But I have read about California employers having a gun held to their heads by law firms filing suits ... Many have paid hundreds of thousands of dollars in what appears to be legalized extortion ... What is your opinion? Should we stay where we are, and all go out and buy new snow shovels or sunscreen and swimsuits? Thanks, Jim.”
H. Dennis Beaver: I am embarrassed and horrified by what can only be described as a war on business enabled by my state’s legislature, and I am not a card-carrying, conservative Republican. Any company thinking of relocating here needs to Google “California Legal Hell Hole” and “California Pay Stub Violation Penalties,” then ask itself why the following large corporations — among hundreds — have moved out of California [...]
I spoke with business relocation expert Joe Vranich, president of Spectrum Location Services, which was based in Irvine, Calif., but relocated to Cranberry Township, a suburb of Pittsburgh. He has been tracking the exodus of companies from California and noted that, “A rule of thumb among business site-selection experts is that five companies leave for each one that actually gets reported in the press. So, it’s probable that as many as 10,000 companies have left California in recent years.” (MORE - details)