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 Flight of the Icons Anti-business policies are driving flagship firms out of California

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RR Phantom

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Flight of the Icons Anti-business policies are driving flagship firms out of California Vide
PostSubject: Flight of the Icons Anti-business policies are driving flagship firms out of California   Flight of the Icons Anti-business policies are driving flagship firms out of California Icon_minitimeWed Dec 16, 2020 4:39 pm
It’s hard to say the word “innovation” and not think of California. Technology has paced the state’s growth in everything from agriculture and oil to housing, entertainment, and aerospace. California has always been the harbinger of the American future, the promise of ever-greater economic and social progress.

Yet increasingly, many of today’s innovators are fleeing the state. This past week, one half of the company arguably most symbolic of tech development in the state—Hewlett Packard Enterprises—one part of the now broken-up old Hewlett Packard and focused on lucrative areas like cloud computing and IT infrastructure—decided to leave for Houston. Within a week Elon Musk, the latest in the line of truly transformative California tech entrepreneurs, also announced that he would move to Texas, along with Oracle, a Fortune 100 company and global leader in database management. Other recent departures also include more traditional firms as Charles Schwab, McKesson, Bechtel, Parsons Engineering, and CB Richard Ellis.

The corporate exodus accompanies a human one. The state’s population, notes demographer Wendell Cox, is now virtually stagnant, with more people leaving and fewer people coming. Millennials, particularly as they ponder family formation (as we recently demonstrated in a report from Heartland Forward), are following a similar pattern. Today, suggests Cox, California, once the ultimate land of youth, is now aging far faster than the rest of nation.

https://www.city-journal.org/california-anti-business-policies-driving-out-innovation-industries

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