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   (The Center Square) – Leaders of corporations have been leaving   
   California for years, relocating their headquarters, or their   
   entire operations, out of state, citing high cost of living and   
   one of the highest tax burdens in the country as their reason,   
   the California Policy Center notes in its updated California   
   Book of Exoduses.   
      
   While large and small companies are relocating primarily to   
   Texas, other destinations include Arizona, Tennessee, Florida   
   and a few other states.   
      
   The first to announce its exodus this year was Digital Realty   
   Trust, a $36 billion company with over 1,500 employees. It   
   announced last month it was relocating its global headquarters   
   from San Francisco to Austin, Texas. The real estate investment   
   trust will keep some of its presence in the Bay Area but is   
   relocating the bulk of its operations to Texas. Its CEO, A.   
   William Stein, said he’s doing so because of Texas’ “central   
   location, affordable cost of living, highly educated workforce,   
   and supportive business climate.”   
      
   Stitch Fix, a personal style service, began to disinvest in   
   California and reinvest in lower-cost states last year. The $8.3   
   billion company formerly based in San Francisco laid off 1,400   
   stylists in California last June. By December, it began creating   
   a new distribution center in Salt Lake City and this month   
   announced it was shutting down its South San Francisco   
   distribution warehouse altogether.   
      
   The California Policy Center has catalogued at least 50 large   
   corporations that have left California since 2014, with the vast   
   majority leaving in 2019 and 2020.   
      
   Of the six corporations that announced their California exodus   
   so far this year, four relocated to Texas. First Foundation, a   
   California bank, moved its holding company to Dallas; Digital   
   Realty Trust moved its data center to Austin, following Oracle,   
   Hewlett Packard Enterprise and Tesla, which all announced their   
   exodus last year.   
      
   Amazing Magnets, a magnet manufacturer, already broke ground for   
   its new headquarters in Round Rock, a suburb of Austin. ZP   
   Better Together, a company providing tech solutions for the   
   deaf, also relocated its headquarters to Austin.   
      
   High profile entrepreneurs also left California last year.   
   Billionaire Elon Musk, radio host Joe Rogan and DropBox CEO Drew   
   Houston all moved to Texas.   
      
   Notable California venture capitalists David Blumberg, Keith   
   Rabois and Shutterstock’s billionaire founder Jonathan Oringer   
   left Silicon Valley for Miami, arguing San Francisco is poorly   
   managed. Tech billionaire Larry Elison left California for   
   Hawaii. Conservative talk show host Ben Shapiro left Lost   
   Angeles for Nashville.   
      
   In addition to the Silicon Valley tech companies that already   
   left California for Texas last year, Charles Schwab relocated   
   its corporate headquarters from San Francisco to Dallas. Apple   
   also announced the building of its new campus in Austin.   
      
   Survey company QuestionPro also relocated to Austin last year,   
   as did SignEasy to Dallas, Finical, Inc. to Dallas, Dasan Zhone   
   Solutions to Plano, and the $23 billion CBRE Group to Dallas.   
      
   California saw a cumulative decrease in adjusted gross income   
   between 2010 and 2018 of $24.6 billion, according to an new   
   analysis of IRS data by the independent research website   
   Wirepoints.   
      
   It also reported a population loss for the first time in its   
   recorded history according to Census Bureau data.   
      
   Increasing taxes, restrictive policies on businesses and ongoing   
   lockdowns have led individuals and Silicon Valley companies to   
   exit California over the last two years, but in 2020 for the   
   first time California lost 70,000 residents on net.   
      
   Until 2020, California had gained population in every year since   
   1900.   
      
   https://www.thecentersquare.com/california/list-of-companies-   
   leaving-california-grows-citing-high-tax-burden-cost-of-   
   living/article_b0add24a-753b-11eb-97bc-   
   5bb1b2df1e43.html#:~:text=The%20first%2   
   0to%20announce%20its%20exodus%20this%20   
   year,global%20headquarters%20from%20San   
   %20Francisco%20to%20Austin%2C%20Texas.   
      
   --- SoupGate-Win32 v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)