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Report says rate of business exodus from California is accelerating

Businesses headquartered in the Golden State fled at twice the rate last year than they did in 2020 and 2019, and at three times the rate of 2018, according to a
new report
from Stanford’s Hoover Institution.

moves by marquee companies
such as Tesla, Oracle, and HP Enterprise, who have relocated their headquarters (if not their entire operations) grab headlines, the report found smaller companies are increasingly looking for the exit, as well.

“California… is risking its economic future as much smaller but rapidly growing unique businesses are leaving, taking their innovative ideas with them,” researchers Lee Ohanian and Joseph Vranich said in the report.

“Why are companies leaving? Economics, plain and simple,” Vranich and Oahnian wrote.

“California state…

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