As the mass exodus of corporations leaving blue states and heading to more conserrvative states, A Major global Player is ditching its offices in California for new offices in Texas.
News breaks every day here. Be the first to know when. Tap subscribe below to stay informed.
The majority of blue states are overtaxed, criminalized, and unfriendly to business. Yet the blue State Governors are all surprised when major corporations leave their states, to go to more business friendly states.
Daily Caller writes. Chevron is selling its global headquarters in California as it continues to move its operations and employees to Texas, The Wall Street Journal reported Wednesday.
The oil giant sold 92 acres of offices in San Ramon as its workers continue to relocate to its Houston campus, where it has three times the number of employees that California has, according to the WSJ. Chevron will follow in the footsteps of other large companies like Tesla and American Airlines that have left California in recent years for various reasons.
A Chevron Spokesperson said “The current real estate market provides the opportunity to right-size our office space to meet the requirements of our headquarters-based employee population,”
Since leaving California one major corporation is showing the world how much money California is missing out on since its departure.
It has been reported that Tesla is considering building a new lithium refinery on the Texas Gulf Coast in exchange for avoiding paying property taxes in the Republican-run state.
In late August, Tesla sent a request to the Texas Comptroller’s Office seeking relief from local property taxes, according to an application the company submitted. It plans on applying for a tax break under Chapter 313 of the state’s tax code, which allows the government to limit property taxes for companies doing business in the state for a period of ten years. This new Tesla project will invest hundreds of millions of dollars into the local economy.
States like California and Illinois heavily tax corporations, and make them pay additional fees to local cities. Other more business friendly states give incentives for those corporations to invest in their communities, and those same companies pump billions of dollars into the local states economy. Seems pretty smart to do things that way, we do not know what California is thinking.
Let’s continue this conversation, in the comments below.
