A long time ago, California was the place every business wanted to be. It was an attractive place for companies to set down roots. But that is sadly no longer the case. The state’s liberal supermajority has hammered CA with so many taxes and regulations, that some businesses have no choice but to make some hard decisions.
Famed entrepreneur, Elon Musk, made waves months ago when he built a new plant far away from California. Instead of trying to encourage Musk to continue to invest in CA, liberals blasted him and insulted him. Well, it seems like he got the message because he’s moving his entire company to the Lone Star State.
Tesla’s CEO Elon Musk made a pretty major announcement at its 2021 annual meeting of stockholders on Thursday – the company will be moving its headquarters to Austin…
“It’s tough for people to afford houses, and a lot of people have to come in from far away. And so it’s we’re taking it as far as possible, but there’s a limit to how big you can scale in the Bay Area.”
Tesla’s CEO Elon Musk shocked the state of California by announcing he was moving its headquarters to Texas. While there are probably many reasons why he is making the move, he cited one major issue: the cost of living in the Bay Area.
Musk explained that they are recruiting talent from all over the world. But moving them to the San Francisco area is getting harder and harder. The heavy taxes and outdated construction rules prevent housing from expanding. What little is left is extremely expensive.
Compare that to Texas, which continues to grow as more people move in. Texas is a pro-business state, with low taxes and fewer regulations. Americans and businesses from all over the country have been flocking to the Lone Star State, because of that.
Meanwhile, California continues down a path that is driving up the costs of living and house. High taxes and a lack of housing is hurting their economy. More and more people are being driven into poverty and homelessness. The state has no clue how to remedy it.
If you think this is the last of top businesses moving to Texas, think again. With Tesla moving to Texas, more companies will be looking to dump California. Not that we are at all surprised.
- Elon Musk announced he is moving his company’s headquarters to Austin, TX.
- He cited the lack of housing in the Bay Area, as taxes and laws create a housing crisis.
- Many people have left California in recent years, due to skyrocketing costs.