Posted on 04/27/2014 4:52:00 PM PDT by Extremely Extreme Extremist
Californias 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 its unlikely that Toyota, which is ranked 8th on Fortunes 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 ...
Remember your economic multiplier effects too.
5,000 jobs at Toyota support a good number of service jobs, both servicing Toyota, and also Toytota employee spending which supports jobs in places such as grocery stores, coffee shops, gyms, health clubs, hairdressers, department stores, you name it.
So, if 5,000 jobs are moving out of state, it’s possible that about 8,000 jobs total will be lost due to this move.
You have to explain this one, I'm clueless. You are presuming their California office staff is unionized? I know none of their factory employees here in Indiana are unionized.
I read in the WSJ this weekend that when California “Cap & Tax” really gets going in the out years, the tax burden on business will skyrocket.
These are white-collar employees. I don’t think Toyota has manufactured in CA since the plant in Fremont shut down in 2010.
Rick’s fault........ go rick!!
I bet our carbon trading/tax scheme has a lot to do with it.
Thanks Extremely Extreme Extremist.
You make a good point. Whether Toyota brings workers with
them or more people from all over the place move to Texas,
the reality is that population increases bring liberalism.
Conservatives in Texas may one day rue the name “Perry”.
In California we learned the hard way.
I disagree.
Jobs bring conservatives.
People without jobs means liberalism.
Jobs = conservativism.
I relocated to Texas to save my job.
The first politician to which I wrote a letter was Goldwater (I was in first grade & remember the rallies/speeches in Orange County ).
I am happy to live in a Texas county that is one of the most conservative in the nation.
I feel like I have come home :)
I am doing my part to keep Texas from turning blue.
Not all californios are blue/libs/union thugs.
What is scary is that as liberals leave California, they are replaced by people who make it even more liberal.
“This is gonna be good. Would not surprise me if the state of Kalifornia tries to stop them or extract more money from them....”
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You’re right, the leftists will try to fight this—like the NLRB did to try to stop Boeing from setting up an assembly plant in South Carolina.
I guess Toyata wasn’t too impressed with California’s high speed train effort.
Leftists are REDS.
Note well it is a headquarters move and I’m thinking Kalifornia took a bite out of their total US revenue. At some point stockholders are going to demand this of ANY corporation headquartered in Kalifornia, Illinois, and New York, to name a few tax and spend locales.
I was referring to powdermonkey’s description of the color...
Seems every so often the colors on the presidential election map get switched ....
So, to keep from any confusion, I will refer to the current condition of Texas as Conservative (with a couple big city pockets of liberal) and California as Liberal (with the non city areas being Conservative).
I am a conservative who escaped the liberal part of California and found refuge in Texas.
Hey left wingers . . . people and companies “vote” with their feet and their wallets
Liberalism is truly a mental disorder
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