Since California has the highest taxation, most of the companies are leaving for different states such as Arizona, Nevada and Texas. One of the biggest companies, such as Tesla, is leaving for Texas due to the high taxes and anti-business atmosphere. CEO Elon Musk says the electric car maker will move his company from California to Texas.
Musk stressed that he plans to expand the company’s factory in Fremont, California, where Tesla’s Model S and Model X cars are built, in hopes of increasing its output by 50%. Musk stated, “”I’m excited to announce that we’re moving our headquarters to Austin, Texas” in a meeting with shareholders Thursday. Tesla is currently headquartered in Palo Alto and before was headquartered in San Carlos, both in Silicon Valley.
Too many people left California in those two years of the epidemic. Our state lost a Congressional seat for the first time ever, and Texas gained two. Economy goes down, Newsom says that we haven’t lost any of the population from California but he can’t even imagine the real numbers of people who are moving to the other states.
If you remember, in May 2020, Elon Musk threatened to move the Tesla plant out of California, and into a different state, because of the unelected Public Health Director mandating how he ran his company. Our San Diego Assemblywoman Lorena Gonzalez tweeted, “F*ck Elon Musk” in response to the threat. And now we lost one more company that had a huge economic influence on California.
Photo Cred: Hannibal Hanschke/Pool Photo via AP, File