Good luck with “recovery” when the only ones working will be public sector union employees. November 2 is almost here!
Via the Business Relocation Coach;
The pace of businesses disinvesting in California has accelerated. In a period just shy of the first three quarters of this year, 144 companies have engaged in California Disinvestment Events – nearly three times the level detected for all of 2009.
Quite clearly, the exodus of businesses out of California continues. It makes sense for companies to reduce their California footprint considering the ample supply of attractive, lower-cost alternative locations. Unless California reduces its hostility toward business, we will see more commercial enterprises seeking friendlier locations in which to relocate entirely or at least place facilities there that used to be located here.
Sept. 23 update: See additional commentary related to this post at Fox & Hounds Daily, which focuses on California business and politics.
The figures reflect company events found in public domain information only. The real exodus of companies from California is probably incalculable because so many are implemented without public notice.
Defining “California Disinvestment Events”
Before getting into specifics, please note that this section, Part I, portrays California Disinvestment Events, which are companies that:
- Move complete HQ’s, factories, R&D labs, and other facilities out of state
- Close a facility completely – no relocation – while those jobs migrate to out-of-state competitors who gain business formerly in California
- Close only part of a facility and move it to one or more places elsewhere
- Keep their HQ here but deflect substantial capital into facilities elsewhere that in prior years would have been located in California
- Threaten to leave the state but have not yet done so
- Cancelled plans to move to California
Also, Rankings and Caveats follow in separate blog postings as follows:
- Part II: Examples of Companies Excluded from Disinvestment Event Listings
- Part III: County-by-County Losses for California Disinvestment Events
- Part IV: States, Countries That Gain from California Disinvestment Events
- Part V: California Disinvestment Events by Category or Type
- Part VI: Why California Disinvestment Events Are Greatly Understated
- More information about events listed as “Reported Here Earlier” can be found at my July 15 entry “Calif. Business Exodus ‘Explodes’ in 1st Half – Total Higher than Entire Previous Year” or earlier by searching the blog for a company’s name.
Here is a county-by-county account since January 2009:
The Business Relocation Coach Joseph Vranich argues the state is a hostile environment for business.