Now, this from today: businesses exiting California surges in 2021, dealing 'death knell' to state's economy. Link: https://www.foxbusiness.com/economy/businesses-exiting-california-2021.
California has seen 265 companies relocate their headquarters outside of the state. I'm waiting for Chevron to move out of San Ramon, California.
Since the beginning of 2018, California has seen 265 companies relocate their headquarters outside of the state – 74 of which left in the first six months of 2021, according to a new analysis published by the Hoover Institution, a right-leaning think tank at Stanford University. By comparison, 62 businesses moved outside of the state in 2020, while 78 relocated in 2019. In 2018, 58 companies exited the state.
The migration is taking place across a broad range of industries, such as manufacturing, aerospace, financial services, real estate, chemicals, health care and technology. The headquarter exits include Big Tech legacy firms like Hewlett-Packard Enterprises and Oracle, but also smaller, rapidly growing firms like Darvis, which helps digitize hospital logistics, hygiene and documentation.
And that's why I love Tim Cook. Sees the writing on the wall and moves Mac Pro to Texas.
Speaking of which, I forgot to post this story: 660 companies moving facilities out of California with many bound for Dallas-Fort Worth. It's behind a paywall but I was able to access the entire story earlier on my iPad. This is the interesting story. The headline would be a bit more accurate to say that these 660 companies are pretty much located in two geographic areas in California: the Bay area in the north, and Los Angeles County. I doubt many companies are leaving beautiful San Diego, and there are "no" California companies north of 38.4404°N.
So, these 660 companies are leaving a relatively small geographic area of California.
On the flip side, these companies moving to Texas are mostly moving to DFW area, and more specifically, to the north side of the metroplex, and even more specifically, to three cities: Plano, McKinney, and Frisco. The sleeper is Las Colinas, Irving, on the southeast side of the airport, closer to Dallas than to Fort Worth.
Twenty years from now the population center of the DFW metroplex will be 10 miles west of the airport, on TX-114.