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Companies Leaving California In Record Numbers
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SumOfAllFears Offline
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Companies Leaving California In Record Numbers
See any blue states?

Companies Leaving California In Record Numbers

By Mark Perry on June 17, 2011

[Image: leaving.jpg]

California currently ranks #49 among U.S. states for “business tax climate” (Tax Foundation) and #48 for for “economic freedom” (Mercatus). It shouldn’t be any surprise then that companies are leaving the “Golden State” in record numbers this year (see chart above) for “golder pastures” and more business-friendly climates in other states.

From Joe Vranich:

“Today, California is experiencing the fastest rate of disinvestment events based on public domain information, closure notices to the state, and information from affected employees in the three years since a specialized tracking system was put into place. Out-of-state economic development officials are traveling through the state to alert frustrated business owners and corporate executives to their friendlier business climate versus California’s hostility toward commercial enterprises.

From Jan. 1 of this year through this morning, June 16, we have had 129 disinvestment events occur, an average of 5.4 per week (see chart above).
For all of last year, we saw an average of 3.9 events per week.
Comparing this year thus far with 2009, when the total was 51 events, essentially averaging 1 per week, our rate today is more than 5 times what it was then.
Our losses are occurring at an accelerated rate. Also, no one knows the real level of activity because smaller companies are not required to file layoff notices with the state. A conservative estimate is that only 1 out of 5 company departures becomes public knowledge, which means California may suffer more than 1,000 disinvestment events this year.

The capital directed to out-of-state or out-of-country, while difficult to calculate, is nonetheless in the billions of dollars. The top five destinations are (1) Texas, (2) Arizona, (3) Colorado, (4) Nevada and Utah tied; and (5) Virginia and North Carolina tied.

Based on the legislature’s recent rejection of business-friendly legislation and Sacramento’s implementation of additional regulations, signs are that California’s hostility towards business will only worsen. California is such fertile ground that representatives for economic development agencies are visiting companies to dissect our high taxes, extreme regulatory environment and other expenses to show annual savings of between 20 and 40 percent after an out-of-state move.”
06-21-2011 09:02 PM
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smn1256 Offline
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RE: Companies Leaving California In Record Numbers
Gee, higher taxes and more regulations were supposed to be a good thing.
06-21-2011 09:10 PM
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Owl 69/70/75 Offline
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RE: Companies Leaving California In Record Numbers
If the NLRB prevails against Boeing, we'll be saying this about the US as a whole.
06-21-2011 09:11 PM
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SumOfAllFears Offline
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RE: Companies Leaving California In Record Numbers
60 more firms move jobs, work out of California

June 16, 2011|By JAN NORMAN

The pace of companies moving partly or completely out of California has accelerated in 2011, according to Irvine business relocation expert Joe Vranich.

Through June 16, 129 California companies have moved jobs, work and/or headquarters out of state, says Vranich who has been tracking what he calls "disinvestment events" for three years. That is 60 more since his last round-up April 15.

So far this year, the departures average 5.4 a week, compared to 3.9 a week in 2010 and one a week in 2009, Vranich says.

Separately, Register reporter Mary Ann Milbourn reports that out-of-state recruiters are starting to come after California workers too.

"Our losses are occurring at an accelerated rate," Vranich says. "Also, no one knows the real level of activity because some companies are not required to file layoff notices with the state because of their small size.

"A conservative estimate is that only one out of five company departures becomes public knowledge," he adds, "so that means California may suffer more than 1,000 disinvestment events this year."
(This post was last modified: 06-21-2011 10:02 PM by SumOfAllFears.)
06-21-2011 10:02 PM
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RE: Companies Leaving California In Record Numbers
(06-21-2011 09:11 PM)Owl 69/70/75 Wrote:  If the NLRB prevails against Boeing, we'll be saying this about the US as a whole.

No, you could see something much worse. ...and 1861 comes to mind.
06-21-2011 10:14 PM
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tigertom Offline
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RE: Companies Leaving California In Record Numbers
(06-21-2011 09:11 PM)Owl 69/70/75 Wrote:  If the NLRB prevails against Boeing, we'll be saying this about the US as a whole.

03-yes What else is there to say. I can't believe how dumb this move could be. Beyond comprehension. 01-wingedeagle
06-21-2011 10:39 PM
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Native Georgian Offline
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RE: Companies Leaving California In Record Numbers
(06-21-2011 09:11 PM)Owl 69/70/75 Wrote:  If the NLRB prevails against Boeing, we'll be saying this about the US as a whole.
If they hold firm, Boeing's going to win this one. Of course, Boeing may simply be using South Carolina as a negotiating ploy, and have no intent of really staying there. But I think this argument is "real", and I think in the end the Obama NLRB will lose.
06-22-2011 06:16 AM
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Native Georgian Offline
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RE: Companies Leaving California In Record Numbers
With every conceivable natural advantage (location/geography, weather/climate, soil/fertility, resources, etc. etc. etc.) it is just incredible that California's economy has become so dysfunctional.
06-22-2011 06:20 AM
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RaiderATO Offline
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RE: Companies Leaving California In Record Numbers
(06-22-2011 06:20 AM)Native Georgian Wrote:  With every conceivable natural advantage (location/geography, weather/climate, soil/fertility, resources, etc. etc. etc.) it is just incredible that California's economy has become so dysfunctional.

My view is that they're exploiting the coastal geography. No matter how crappy they make it there, people will still want to live there. I'm also guessing that they feel these industries are so well rooted in CA that they won't leave.
06-22-2011 07:13 AM
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RE: Companies Leaving California In Record Numbers
(06-22-2011 06:16 AM)Native Georgian Wrote:  
(06-21-2011 09:11 PM)Owl 69/70/75 Wrote:  If the NLRB prevails against Boeing, we'll be saying this about the US as a whole.
If they hold firm, Boeing's going to win this one. Of course, Boeing may simply be using South Carolina as a negotiating ploy, and have no intent of really staying there.

I doubt they'd be wasting that much cash building a new plant in Charleston just for the sake of negotiating with a union. If the unions don't stop their BS, I could easily see Boeing moving ALL operations to SC. They'd be welcomed with open arms. Charleston is a VERY nice area. ...just stay away from North Charleston.
06-22-2011 07:25 AM
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Bull_In_Exile Offline
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RE: Companies Leaving California In Record Numbers
(06-22-2011 06:16 AM)Native Georgian Wrote:  
(06-21-2011 09:11 PM)Owl 69/70/75 Wrote:  If the NLRB prevails against Boeing, we'll be saying this about the US as a whole.
If they hold firm, Boeing's going to win this one. Of course, Boeing may simply be using South Carolina as a negotiating ploy, and have no intent of really staying there. But I think this argument is "real", and I think in the end the Obama NLRB will lose.

You don't finish and staff a plant designed to build air liners as a ploy, or a temporary fix.

Boing is, wisely, not putting all their eggs in one basket.
06-22-2011 07:42 AM
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