Wednesday, July 13, 2011

California companies continue to flee state over taxes, regulatory environment

CNN ran another article on businesses leaving California for more favorable tax and regulatory climates. Lieutenant Governor Gavin Newsom is promising an economic development plan soon, but the bad news for most of my clients and for the state's economic prospects is that they are unlikely to be assisted by it, in that it appears it wiltarget only specific industries and even then likely primarily larger and more politically connected companies:
Newsom's plan will focus on California's premier industries, including biotechnology, agriculture and digital media. It will highlight the state's strengths in innovation and research and cultivate more manufacturing and exports. It also will examine how to address executives' concerns about regulation, taxes and layers of bureaucracy.
See also:

Amazon sales tax battle centers on jobs, LA Times, July 12, 2011

CEOs rank California 51st in the nation

California scheming

August 2011 Update: Lt. Governor Newsom released his short-on-specifics economic agenda for California, to a mixed response on July 29, 2011.


California Lemon Law said...

Any business that expanded or moved into California I highly suggest you consider not buying their stock. The well run companies are moving out! Look into those and see who they are. Contact the companies and ask them about their new business environments and why they would suggest the new state! California will one day be a big welfare state that is the northern part of Mexico the way our government is running it.

California Lemon Law

California disability attorney said...

It's sad how businesses are leaving California for "greener pastures". The best way for the state's economy to flourish again is to find solutions to make it favorable for the business sector to relocate to the state. No business means no jobs, simple as that.

- California disability attorney

Darren Chaker said...

Good statistics from the various counties. Very useful info. I agree California will be, if not already a big welfare state. The State does all it can tax companies into leaving. Keep up the good work! Darren Chaker