In 2016, 1,800 CA companies “disinvested” in CA — either leaving the Golden State or expanding their businesses elsewhere
Last month I wrote about reports that McKesson, California’s second largestcorporation(after Apple), might be planning to move its HQ out of San Francisco. After the company initially denied such stories, the firm has now confirmed their planned HQ move to Texas. https://www.bizjournals.com/dallas/news/2018/11/30/mckesson-relocates-headquarters-to-north-texas.html?
One factor seems to be that the company’s top dogs are tired of paying a (now nondeductible) 13.3% California state income tax. Of course, Texas has no state income tax.
Would that this move was a “man bits dog” story. It’s not. It’s more of the same. And it’s getting worse.
The “Business Relocation Coach” tracks these California business moves, and just updated the figures. The survey found that in 2016 an… Read More