California Companies Moving Out

A new report compiled by the Hoover Institution of Stanford University shows that California companies are increasingly leaving the state. Since 2018, 265 have moved out, with 114 heading to Texas. The number of California companies moving out of California is likely understated. From 2018 to 2020, migration has been relatively steady, but in the first half of 2021, 74 have already left. That number is projected to increase further. Here are some of the reasons companies are leaving California.

One of the reasons companies are leaving California is the high cost of living. The state has one of the highest taxes in the country, making it unattractive for many companies. Combined with high labor costs, living expenses and utility and energy costs, California is a very expensive place to be based. And since the state's economy is deteriorating, many companies have been relocating to lower-cost states.

While tech companies aren't publicly saying they're moving, more tech companies are making the move to the west. Companies like Oracle and Tesla Inc. have been moving their headquarters to Texas. Hewlett Packard Enterprise, meanwhile, is moving its headquarters to Texas, with a completion date this year. Besides, Caterpillar is moving to Texas, while hedge fund operator Citadel announced plans to move to Miami this week.

Tijuana has also become a popular destination for international manufacturing. For example, 3D Robotics, a drone manufacturer, used to be based in southern California until 2011. Then, in 2011, it moved to a tiny apartment in Tijuana. It rapidly scaled to a 12,000 square foot manufacturing facility. Now, the company produces thousands of drones - largely for the US consumer market.

Business owners may also benefit from resources and support services offered by the Governor's Office of Business and Economic Development. GO-Biz offers a wealth of information and support for expanding companies. They can help with site location, registration, permits, workforce, and regulatory boundaries. In addition, GO-Biz provides resources that help businesses grow and succeed in California. If you're planning to relocate your business to California, it may be a good idea to consider the California Business Portal Mapping Tool.

Allied Van Lines has a reputation as a top mover with over 90 years of experience. Their moving consultants specialize in long-distance and international moves and offer many add-on relocation services. These options may be a good fit for you if you're looking for a full-service move. It's also worth noting that Allied Van Lines offers a free resource guide that will walk you through moving day.

California companies moving may offer a variety of services. Pricing depends on distance, size, and date of move. A full-service moveing can be expensive, but the price can be reduced if you're on a budget. JK Moving and American Van Lines are top-rated for their full-service options, and JK Moving are two great options for financing. For smaller moves, PODS may be a good choice.