The Foundation for Economic Education (FEE) is turning into a decent source for insight on various issues. Today FEE notes another brick in the cenotaph commemorating California's descent into madness. It comes from a study at the Hoover Institution at Stanford University.
They find that 265 major companies have moved on to greener pastures since January 1, 2018. The study also reports that the rate at which businesses are leaving the state is rapidly accelerating. For the first six months of 2021, the rate is nearly twice as high as it was last year. That means more businesses have already left California this year than in all of 2020.
The state now ranks as the 50th-worst state to do business in, according to Chief Executive magazine’s 2021 survey. Meanwhile, the Small Business & Entrepreneurship Council ranks the Golden State the 49th-worst state to do business in. And the Tax Foundation reports that California has the 49th-worst business tax climate in the country. (links in original)
"More businesses have already left California this year than in all of 2020." That trend line will not please the legislature and governor, nor Californians generally.
