CHEVRON…is leaving California, heading for TEXAS
Front Page: Chevron is California’s largest corporation, but it seems to be making the move to becoming Texas’ largest corporation instead.
Employees at Chevron’s San Ramon corporate headquarters received an unexpected email yesterday. It notified them that a quarter of their jobs are being moved from California to Texas.
That’s 800 jobs out the door which gives Chevron a larger presence in Texas than it still has in California.
Forbes noted that Comcast shut down its Northern California call centers this year, citing “the high cost of doing business in California.”Some 1,000 workers lost their jobs.
Campbell’s Soup, which padlocked its Sacramento factory, displacing some 700 workers. The company decided to move production to Texas, North Carolina and even Ohio of all places.
Anywhere but California. The new motto is no longer “Go West, Young Man.” That dates back from the days when you could escape over-regulated areas for a fresh start in the West. Now it’s “Go East, Young Man.”
Forbes magazine this month ranked California one of the 10 worst states for businessbased on six factors: business costs, labor supply, regulatory environment, current economic climate, growth prospects and quality of life.
The Mercatus Center, “Freedom in the 50 States,” ranked California’s regulatory climate the fourth worst among the states. California has the fourth-highest tax burden, according to a study by the Tax Foundation. And energy costs here in the Golden State are 33 percent above the national average.
But surely this is another problem that can be solved with more taxes. If we just invest more money in the schools, then the next generation of Californians will be divided between those who stay and collect welfare checks and those who get the hell out.
I say they get what they vote for. Combine low information voters approving Proposition 30 and corporate taxes down, I wouldn’t be surprised if more businesses start leaving the state.
h/t Laura
DCG