Posted on 04/27/2014 4:52:00 PM PDT by Extremely Extreme Extremist
California’s inhospitable tax policies may have struck again, this time costing Los Angeles one of its largest employers. According to multiple sources close to the situation, Toyota will be relocating its US headquarters from the LA suburb of Torrance to Plano, Texas.
The company has yet to notify its employees of the news, but is expected to do so Monday, followed by a public announcement. While it’s unlikely that Toyota, which is ranked 8th on Fortune’s Global 500, will directly cite taxes as the reason for its relocation, it should come as little surprise that the financial burden of operating in California – both on the corporation and its employees personally – played a major role.
A number of early stage entrepreneurs, including Pando contributor Bryan Goldberg, have discussed publicly their decisions to start companies outside of California. Now, it appears that frustration has moved its way up the economic food chain.
(Excerpt) Read more at pando.com ...
Isn’t that the now NON-union plant where they build Teslas?
Looks like the housing market in Plano just skyrocketed.
Gov. Perry selling Texas will turn us blue-ugh.
Just remembered Nissan did the same thing in 2006.
http://articles.latimes.com/2005/nov/11/business/fi-nissan11
I believe that’s right.
Read the article at both links. Lots of comments at the Bloomberg site complaining about our lack of EPA enforcement, no rapid transit, lower wages, etc. If those are from people that are moving here from California, hope they change their mind and stay there. Apparently some of them don’t know how to use a calculator. Of course you have to have higher wages when a chunk of it goes to state income tax and union dues but you end up with the same disposable income which goes a lot farther in Texas.
We don’t need the EPA, any other Federal agency or a bunch of greenies in Texas trying to tell us how to run our state.
PS But I think they were in Fremont, CA.
Toyota just wasn’t that into them ....
Just so they don’t bring their libtards with them.
I remember when east coast libs were flocking to CA. A common bumper sticker back then was “Welcome to California, now go home.”
Sounds like the locus are on their way to Texas. Don’t let em in.
More take home pay for workers.
All Your Jobs Are Belong To Us.
Yep. They come here for jobs and opportunity and then complain how we aren’t like California. My daughter deals with them often and sweetly tells them “this is how we do things in Texas. Ya’ll can go back home if you don’t like it here”
Just wait. Sacramento will bring them to court, get a judge to sign an order preventing the move, or some such non-sense.
Actually it a 3:1 ratio. 15,000 more jobs in the area lost.
Sorry CA residents, taxes will increase to make up for this loss..
But at least the air will be cleaner.
Not true: TEXAS MORE RED FROM BLUE STATE EXODUS
New York has been offering tax free zones. Wonder why they didn’t go there instead of Texas?
I'll say this for North Texas: there's been a boatload of huge highway projects completed in the past couple of years.
Hahahahahaha. I just drove past that factory a few weeks ago. Beautiful monument to human ingenuity.
I expect Moonbeam will be introducing a “Getting out of Dodge” tax soon.
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