November 11, 2015
More than 9,000 businesses reportedly moved their headquarters from California to Texas over the last seven years, with Los Angeles County seeing the bulk of the relocations.
That’s the finding from a study recently conducted by Irvine-based Spectrum Location Solutions, which reinforces the perception that California is not business friendly.
One of the largest moves taking place is by Toyota, which is shifting its Torrance, California operations to Plano, Texas, which will be home to 4,000 employees.
The Spectrum study also indicates that companies migrating to Texas from California save 20 to 35 percent in operating costs.