Newsom's progressive failure: Big businesses fleeing California for Texas

Texas has become an attractive state. In recent years, a significant number of companies have decided to move their headquarters from other states across the country to Texas. One of the biggest contributing states is California. It is estimated that more than 100 companies have made this move.

The main reasons include the economy and Texas's good business environment. Additionally, lower corporate taxes, a more favorable regulatory environment, lower operating costs, and a lower tax burden for employees and businesses. Furthermore, the state offers a more affordable cost of living, which attracts both companies and its workers.

Conversely, high corporate and personal taxes, high cost of living, and strict environmental and labor regulations are just some of the reasons why several companies have chosen to flee California.

Companies that have moved their headquarters to Texas

The historic Chevron, one of the few oil industry giants still clinging to remain in California, has already announced that it will leave behind its entire history in the Golden State to head to Texas in a move that comes as no surprise to experts. However, despite the logic behind the move, with California being a state increasingly focused on renewable energy and thus a bureaucratic hellhole for oil companies, the move of this historic company is still a symbolic coup.

Tesla, led by Elon Musk, announced its move to Texas in 2021, arguing that costs in California had risen considerably, affecting the company's operational efficiency.

Likewise, Musk assured that his other two companies, X (formerly Twitter) and Space X, would also move to Texas.

Other tech giants followed suit, such as Oracle, which moved to Austin, Texas, in 2020. Oracle stressed that the move would allow greater flexibility for its employees, especially in a context where remote work has become more common.

Charles Schwab, one of the financial services giants, also moved its headquarters to Texas, arguing that the location would allow better service to its clients across the country.

Other companies that have moved from California to Texas include:

1. Dropbox: Although it did not move its entire headquarters, it has significantly reduced its presence in California and expanded operations in Austin.

2. Uber: Although it has not moved its official headquarters, it has expanded its Texas operations and moved several departments.

3. Jamba Juice: Moved its headquarters to Frisco, Texas, in 2016.

4. Toyota North America: Moved its headquarters from Torrance, California, to Plano, Texas, in 2017.

5. CBRE Group: The commercial real estate firm moved its headquarters to Dallas in 2020.

6. McKesson Corporation: The pharmaceutical distribution company moved to Irving, Texas, in 2019.

The departure of these large corporations underscores a change in the perception of the business environment in California and how the progressive left-wing policies implemented in the state have failed and collapsed its economy.