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"From an economic perspective, residents face steep housing costs, high-priced energy, expensive cost of living, and high taxes. Extortionate taxes and unaffordable housing costs alone turn California’s 14 percent average income premium compared to other states into a nearly 20 percent net income deficit.
Businesses have also given up on California. Since 2008, thousands relocated either fully or partially elsewhere.
Many that have left include “high-profile companies” such as Hewlett- Packard, whose founding is recognized as the birth of Silicon Valley; Tesla; SpaceX; and Charles Schwab, which was started in San Francisco 50 years ago. Mitsubishi, Nissan North America, Toyota Motors North America, Oracle, Palantir Technologies, and Jacobs Engineering are also on the list.
These relocations don’t happen in a vacuum and produce real-world consequences. When successful companies flee, the state loses high-paying jobs, which creates “a huge problem” for the state says Lee Ohanian, UCLA economics professor and Hoover Institution senior fellow.
Four years ago, the Pacific Research Institute commissioned a poll of 200 technology, manufacturing, clean tech, and energy industry executives. They overwhelmingly cited the state’s anti-business climate and high cost of living as reasons for leaving or not expanding their operations in California."
Businesses have also given up on California. Since 2008, thousands relocated either fully or partially elsewhere.
Many that have left include “high-profile companies” such as Hewlett- Packard, whose founding is recognized as the birth of Silicon Valley; Tesla; SpaceX; and Charles Schwab, which was started in San Francisco 50 years ago. Mitsubishi, Nissan North America, Toyota Motors North America, Oracle, Palantir Technologies, and Jacobs Engineering are also on the list.
These relocations don’t happen in a vacuum and produce real-world consequences. When successful companies flee, the state loses high-paying jobs, which creates “a huge problem” for the state says Lee Ohanian, UCLA economics professor and Hoover Institution senior fellow.
Four years ago, the Pacific Research Institute commissioned a poll of 200 technology, manufacturing, clean tech, and energy industry executives. They overwhelmingly cited the state’s anti-business climate and high cost of living as reasons for leaving or not expanding their operations in California."
