Another year, more California 'exes' are living in Texas

Walt said:
Basically, with computer tech you can divide all startups into three roughly equal groups. There is Silicon Valley and the San Francisco area, there is the rest of the USA, and there is the rest of the world. So while it sometimes seems like all innovation comes from Silicon Valley, only about half of American computer innovation comes from there. Which is more than can be housed there, so Silicon Valley is constantly pumping out innovation to the rest of the country.
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So you say. I'll make a note of your opinion, and accord it every iota of the gravitas that I deem it deserves, Salty.
 
ExpressLane said:

Another year, more California 'exes' are living in Texas​


Another year, and a similar pattern continues: Many California businesses keep leaving.



Despite claims by California Gov. Gavin Newsom that California is “the beating heart of the American economy,” companies keep relocating. Their primary destination is Texas.

More than 360 companies have exited California since 2018, according to the California Policy Center’s California Book of Exoduses, which tracks corporate exits from California. Since 2005, more than half that left had relocated to Texas by 2023, The Center Square reported.

Among those exiting this year was Global tech company Simplilearn. Relocating from San Francisco to Plano, “one of the most dynamic tech communities in the United States,” was “a key contributor to its revenue,” Krishna Kumar, Simplilearn’s founder and CEO, said. Moving to Texas in October marked “a pivotal moment in our journey, driven by our commitment to being at the forefront of a thriving tech ecosystem and tapping into a diverse talent pool.”

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Resources Connection Inc., a management consulting firm, relocated its headquarters from Irvine, California, its headquarters of nearly 30 years, to Dallas on Nov. 1.

Medical device company Koya Medical, Inc. relocated its headquarters to Dallas from Oakland, expecting to create more than 200 new jobs. It received financial incentives from the Dallas City Council to do so.

ABBYY, a data analytics and AI company, relocated its global headquarters from Silicon Valley to what is now known as Silicon Hills in Austin. “Relocating our headquarters to Austin, where our product leadership team already is, places us at the heart of a growing tech ecosystem,” Ulf Persson, ABBYY’s CEO, said. The company began operating in California in 1999 and its headquarters in Silicon Valley in 2019.


FreshRealm, a meal kit company that fulfills and produces meals for retailers like Amazon, Kroger, Blue Apron, and others, relocated its headquarters from California to Lancaster, Texas. It broke ground in 2023 on an 88,000 square foot space to expand operations in Texas, which offers a “rich heritage of hard work” in a “dynamically growing region that is actively investing in its people and businesses,” its president, Snow Le, said.

At the beginning of the year, Graze Inc., a California robotic lawnmower firm, announced its move to Plano, “home to some of the world's most innovative companies …” and “the epicenter” of a “thriving economy.”

Companies based in other states that had operations in California also pulled them as Californians continue to face a homeowner insurance crisis. Galveston, Texas-based American National Insurance said it was pulling its homeowners insurance policies in California and other states due to “persistent underwriting losses over the last 10 years,” Insurance Journal reported.

State Farm, Allstate, AIG, Chubb, Falls Lake Insurance, AmGUARD, Tokio Marine America Insurance Co., and Trans Pacific Insurance Co. all announced they are leaving California, not writing any new homeowner insurance policies or renewing them, Insurance.com reported.

Every year, as California ranks last or near last, Texas ranks first as the best state for business, for attracting new businesses, first for job creation, job growth and economic expansion, The Center Square has reported.

In 2023, Texas gained 500,000 residents, with the most – more than 102,000 – coming from California, according to Census data. People are flocking to Texas because it has no personal income tax, a state government that supports law enforcement, its businesses are leading the U.S. in job creation and growth, and its economic expansion dominates, Gov. Greg Abbott argues.....
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Libratards are ruining California. I hope they don't ruin Texas while they are at it.
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I love watching how hung up on California's amazing success you sour trumppers are.

California has been a victim of their amazing success, and they need some people to move out.
 
cawacko said:
This may be behind a paywall but was in the Chronicle a few days ago.

This addresses the state losing power and the housing issue, which makes it so difficult for people to move here.

There’s no protecting California values without building more housing​

Slow housing production is a threat to the state’s political values and power in the aftermath of the presidential election​


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A lot of the difficulty is due to planning permission, isn't it?
 
cawacko said:
Why do we need people to move out?
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Many parts of the state are overcrowded. Traffic is terrible and housing costs are sky high. If enough people left, both problems would be solved. There are lots of reasons so many people want to live in California, but as the population grows, the problem of such popularity (overcrowding) makes some want to leave.

Id love to live in San Diego or San Francisco, but I cant afford it. If enough people left supply and demand would dictate that housing prices would drop and I could afford it.
 
cawacko said:
No, there's not going to be some mass exodus from the state (like millions of people leaving). But the state is very reliant on the top 1% and businesses for revenue, so if even a small number do start to leave the state will feel the effects materially.

The state essentially says to people here 'you may complain about the high taxes, regulatory environment, etc. etc. but at the end of the day we don't think you'll leave (because where else where you go)'. And clearly most don't. But there are more businesses and rich people leaving.

As far as people moving to California it's only going to be so many as we basically refuse to build new housing. So unless you are rich or are young and willing to do what it takes (multiple roommates etc.) there is a certain barrier that prevents a number of people from coming, even if they want to.
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Okay but for every barrier there is a magnet and the California magnets have never changed.
What magnet? The magnet of "making it big"...just like The Big Apple, New York City.
The other magnet is the weather.

The high taxes are a part of living in this place because people expect something in return.
Personally, I get the chance to breathe easier thanks to the cleaner air, I lived here back when you could barely see two blocks.
 
Jarod said:
Many parts of the state are overcrowded. Traffic is terrible and housing costs are sky high. If enough people left, both problems would be solved. There are lots of reasons so many people want to live in California, but as the population grows, the problem of such popularity (overcrowding) makes some want to leave.

Id love to live in San Diego or San Francisco, but I cant afford it. If enough people left supply and demand would dictate that housing prices would drop and I could afford it.
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My family moved to California in 1981. If memory serves correctly the population was somewhere around 22 million. Anti-growth measures were already being put in place (in 1981) because people said the state was over crowded and we had too much traffic. Today our population is 40 million.

A big reason for the high cost of housing is we make adding new supply extremely difficult. Demand plus no new supply equals extremely high costs which equals a less dynamic state (and that's not good for the country either).
 
cawacko said:
My family moved to California in 1981. If memory serves correctly the population was somewhere around 22 million. Anti-growth measures were already being put in place (in 1981) because people said the state was over crowded and we had too much traffic. Today our population is 40 million.

A big reason for the high cost of housing is we make adding new supply extremely difficult. Demand plus no new supply equals extremely high costs which equals a less dynamic state (and that's not good for the country either).
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Correct, yet the state is still incredibly popular. So supply must go up, and that is not happening, or demand must go down. Its would be a good thing for California if 5% of the population would leave.

Whatever California is doing keeps the demand very high.

High housing prices is a reflection of the demand. Demand is a reflection of the people's desire to live there.
 
Jarod said:
Id love to live in San Diego or San Francisco, but I cant afford it. If enough people left supply and demand would dictate that housing prices would drop and I could afford it.
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I'd love to move back to Venice, where I lived in the Eighties but you have to be a millionaire to live there now, a multimillionaire. So I'm in Whittier-Pico Rivera instead, or as some call it, East L.A.
It's actually not too bad...it used to be a horrible area but it's nice now, and relatively affordable.

I also own a condo up in Santa Clarita but I'm not too fond of 100 degrees in the shade seven months out of the year. The condo (3 BR-2.3 BA) is for sale right now under 500k so it's a steal.
 
Checkerboard Strangler said:
I'd love to move back to Venice, where I lived in the Eighties but you have to be a millionaire to live there now, a multimillionaire. So I'm in Whittier-Pico Rivera instead, or as some call it, East L.A.
It's actually not too bad...it used to be a horrible area but it's nice now, and relatively affordable.

I also own a condo up in Santa Clarita but I'm not too fond of 100 degrees in the shade seven months out of the year. The condo (3 BR-2.3 BA) is for sale right now under 500k so it's a steal.
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High housing prices is a reflection of the demand. Demand is a reflection of the people's desire to live there.
 
cawacko said:
I actually don't disagree with your position that the headlines showing certain businesses moving states isn't necessarily a huge deal. At a certain point though, the numbers start to add up and from a California perspective if the businesses replacing the ones leaving don't produce at the same level then it becomes an issue.

California is going to remain the most populous state and still wield lots of power, however it will be less power as we lose electoral college votes and Congressional seats.
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Wouldn't it be a better idea to retain your businesses and add more businesses?
 
Checkerboard Strangler said:
Okay but for every barrier there is a magnet and the California magnets have never changed.
What magnet? The magnet of "making it big"...just like The Big Apple, New York City.
The other magnet is the weather.

The high taxes are a part of living in this place because people expect something in return.
Personally, I get the chance to breathe easier thanks to the cleaner air, I lived here back when you could barely see two blocks.
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The natural beauty (and weather) is like nowhere else. You can't beat it. And whether it's LA (for entertainment) or SF/Silicon Valley (for tech) young people from across the U.S. and the globe will continue to want to come here to, your point, make it big.

But among our many challenges, the cost of living is off the charts. We have the most wealth and highest poverty rate. A working class/middle class person has very limited chances to own a home. Teachers, first responders etc. not being able to live near where they work is a very real issue.
Having spent time in LA I can recall hearing the long time Angeleno's talk about the smog.
 
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