201 large companies of 100 employees or more have moved out of California from 2018 to 2022. But just this year alone, the number has nearly doubled to 354 — with 153 and counting leaving the state this year so far.
A website named BuildRemote has been tracking the fleeing companies, so we won’t put a list here. But the site also listed some phrases companies used to announce they were leaving the state.
Here are a few of those phrases that show just how unfriendly California is to business:
- Finding a place that is “easier to hire talent.”
- In search of a “great talent pool” (in the new city and state)
- Seeking a “more sustainable place to do business.”
- There is an “increasing intolerance and monoculture of Silicon Valley.”
- Seeking “a strong economic climate with low taxes, reasonable regulations, and a high-caliber workforce.”
- Moving for “our business needs, opportunities for cost savings, and team members.”
- There were “some symmetries in the way that the Bay Area works that just didn’t work well for us.”
- “Arizona provided the ideal conditions of being business-friendly, offering a high quality of life at a reasonable cost”
- Employees can be homeowners in Texas, “which in the Bay Area is virtually impossible.”
- “In California, local rules could dictate how the company chooses board members, for instance.”
The site added that more than 350 are gone:
- 2021: 153
- 2020: 75
- 2019: 78
- 2018: 46
And where are they going? Why, Texas, of course.
- Texas: 27 (44%)
- Arizona: 5 (8%)
- Colorado: 4 (7%)
- North Carolina: 4 (7%)
- Florida: 3 (5%)
- Tennessee: 3 (5%)
- Ohio: 2 (3%)
- Multiple locations: 2
- 11 states: 1
Cross-Posted With IPatriot
