San Francisco Gate (Aug 31) took a look at this subject a few months back:
If the pace keeps up, the number will double what it was last year, according to the report from Stanford's Hoover Institution, a conservative think tank. So far, its data shows that 74 companies have already moved their headquarters to other states in 2021, surpassing the half-year average for 2019 and 2018. It's also more than the number of companies that moved away in all of 2020.
If the pace keeps up, the number will double what it was last year, according to the report from Stanford's Hoover Institution, a conservative think tank. So far, its data shows that 74 companies have already moved their headquarters to other states in 2021, surpassing the half-year average for 2019 and 2018. It's also more than the number of companies that moved away in all of 2020.
. . . Just this month, property technology company HomeLight announced that it was moving its San Francisco headquarters to Scottsdale, Arizona, while financial services company Flexible Funding said it will move its headquarters to Fort Worth, Texas.
In 2020, the big announcements were Hewlett Packard Enterprise and Oracle. I'm pretty sure most everyone has heard of those two companies. I'm vaguely heard of HomeLight and know nothing about Flexible Funding.
Of course, big name companies are still part of the moves in 2021. As the
Hoover Institution (Aug 2021) writes:
The most recent example is The Walt Disney Company announcing in July 2021 that it will relocate 2,000 jobs (not the headquarters) from the Los Angeles area to Orlando, Florida, and indicated that planning had
begun in 2019. The move may not be completed until the end of 2022.1 The relocation isn’t for headquarters, so the event is not reflected in the statistics of this report. Nonetheless, Disney
headquarters jobs will move to Florida. Some headquarters operational jobs will also be relocated to Canada because Walt Disney Animation Studios division will move work from its
Burbank headquarters to a new studio in Vancouver, British Columbia.2 That relocation also is excluded from this report.
I would say this: the research doesn't appear to estimate how many jobs are associated with those 74 companies. I would like to know if the loss of Hewlett Packard Enterprise and Oracle had a bigger impact on California's tax base versus the lose of these 74 companies.
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