Yet, state officials, standing firm on their economic footing, dismiss these conclusions. Citing rising employment data and soaring business license applications, they argue that the California economy is robust and thriving.
businesses are leaving California: A Look at the Numbers
However, the reality of businesses leaving California is evidenced by a significant net loss. From 1990 to 2019, 37,313 business establishments relocated to California, but a staggering 54,630 moved out.
This has resulted in a net loss of 17,317 establishments over this 30-year period.
A recent example is the California Mexican-based company Cacique. After half a century in California, Cacique announced its move to Texas, opening a new dairy processing facility in Amarillo.
A clear illustration of businesses leaving California for better opportunities in other states, this major player in Mexican-style foods reflects a wider pattern involving giants such as Hewlett Packard Enterprise (HPE), Oracle, Charles Schwab, CBRE, Toyota, and Tesla.
businesses are leaving California: The Rise of New Business Hubs
Other states, like Nevada, Texas, Arizona, Oregon, Washington, and Florida, are becoming top destinations for these migrating companies.
