The exodus out of the Golden State continues with Nestle USA being the latest business to pack up its operation in Glendale, California and relocate in business-friendly Rosslyn, Virginia as a means to escape the grasp of anti-capitalist lawmakers and activists. In doing so, the candy corporation will enjoy $16 million in tax incentives not available previously.
Inverstor’s Business Daily’s Terry Jones writes:
[A]part from having higher taxes, absurd housing costs and more regulations than nearly any other state, California’s wacky laws have turned the Golden State into a venue of choice for activist groups to file costly class action lawsuits — or to launch anti-corporate PR campaigns against big, wealthy targets like Nestle.
In recent years, Nestle has faced two such activist-led actions, both spurious: One involves allegations that Nestle improperly documented its anti-slave-labor policies. Not that it employed slave labor, it just didn’t document it online.
This and other types of “corporate harassment” are helped by “top officials and local politicians — virtually all of them far-left progressive Democrats — [who] actively despise capitalism,” Jones adds.
Jones says California is one of the “worst places to do business in America.” That proud distinction not only comes from these crazed activists but also the passing of laws like Proposition 30, which essentially targeted the pay of the state’s highest earners to bleed even more taxes out of them.
The Blaze notes:
According to a report by business relocation expert Joseph Vranich, from 2008 through 2015, at least 1,687 California companies moved operations out of the state.
Toyota shifted its U.S. headquarters and thousands of jobs from Torrance to Dallas, while global oil giant Occidental Petroleum moved its corporate HQ from Los Angeles to Houston, reports IBD.
At this rate, California is seceding itself right out of the union before residents can even cast a vote. But other states will gladly take their fallout. In the years between 2004 and 2013, over one million California residents left, taking their $26 billion in taxes with them.