This exodus is unparalleled. According to a recent analysis from the Hoover Institution, more California corporate offices are moving out-of-state than ever before.
In total, 153 California firms moved in 2021, which was twice as many as the previous year. Texas, Tennessee, Nevada, Florida, and Arizona top the list of states where businesses have shifted operations. Toney Sebra, a native of California, is currently leaving the state.
“We chose Utah because it is very business-friendly, among other factors, Sebra added. “The current state of business has worn us out. We made the decision to leave because we were sick of the political climate and all of these other factors put together.”
Josh Wood, the CEO of Region Business, a grouping of companies in Sacramento, claimed that he is also witnessing a departure of his members.
“It is the result of 1,000 cuts added up. The prices are wages. It’s bureaucracy. Timing and processing are involved, “explained Wood. And it’s a fact that entrepreneurs and business owners choose to locate themselves where success is likely to be found.
Sebra’s Californian fantasy has become a reality in Utah.
Although the majority of our friendships are also in California, Sebra remarked that they weren’t enough to keep them.
According to the report, California will keep losing enterprises, both big and small, some of which could grow into tomorrow’s industry titans, unless legislative reforms are made.