Not only is the California population in net decline despite having the highest level of immigration in the US
https://www.rubyhome.com/blog/leaving-california/
https://www.ppic.org/publication/immigrants-in-california/#:~:text=California%20is%20home%20to%2010.4,of%20the%20country%20(12%25).
but so are the businessesFor years, California has been a thriving market for emerging companies. However, the Golden State has since had to compete with neighboring states to keep companies from leaving. The California Policy Institute counted more than 237 businesses that have left the state since 2005. Among these businesses were eleven Fortune 1000 companies, such as McKesso. The economic impact from these departing companies is likely to be expansive.
California’s tax laws and prohibitive regulations are the leading causes of the massive corporate exodus. The business-friendly conditions, opportunities to save costs, and home-ownership options for employees in other states are a few reasons companies have decided to leave California. These factors led to the first population loss in California’s history in 2020. Many companies are choosing to pursue better opportunities for business in other states with many people following them. A clear indication of the corporate exodus is the business headquarter office losses in California, which has been steadily declining since 2018. More than 265 business headquarters are leaving California, with an average of 6.3 departing per month.
https://www.scbc-law.org/post/the-corporate-departure-from-california#:~:text=A%20clear%20indication%20of%20the,progressive%20personal%20income%20tax%20law.
Well done Gav!
