Real estate brokers through the Lake Tahoe and Reno markets say sales of upper-end homes have been buoyed since the start of the year by California residents who make no bones about their desire to get beyond the reach of the Golden State taxman.
California has experienced negative domestic migration in recent years. The increase in the number of residents moving out of the Golden State to other places in the United States is often blamed on California’s high personal income taxes. In fact, this was one of the main arguments waged against the recently enacted Proposition 30, which raised the statewide income tax rate as a way to address the state’s fiscal woes. However, data from the U.S. Census Bureau show that the perceived connection between out-migrants and the state’s income tax is likely overblown. Statistics on the characteristics of California’s inbound and outbound migrants suggest that the patterns in domestic migration over the past decade are more related to housing costs in the state than to the local income tax structure.
Over the past three and a half decades, state and local governments in the United States have awarded corporations more than $64 billion in giant subsidy packages designed to encourage investment and the creation or retention of jobs.
Workers in STEM (science, technology, engineering, and math) fields play a direct role in driving economic growth. Yet, because of how the STEM economy has been defined, policymakers have mainly focused on supporting workers with at least a bachelor’s (BA) degree, overlooking a strong potential workforce of those with less education but substantial STEM skills.
Some 96 pilots filmed in the Los Angeles area during the 2012-13 development cycle. That’s four more than last year and second only to the region’s peak cycle in 2004-05, when 102 pilots filmed in L.A. But with a total of 186 broadcast and cable television pilots produced, L.A.’s slice of the pilot pie was just 52 percent—the region’s second-lowest share on record and a steep decline from a record 82 percent in 2006-07.
Michigan has given large tax breaks and subsidies to employers more often than any other state, according to a new report that tallies up state and local “megadeals,” or incentive packages worth more than $75 million.
As data dragnets and information breaches dominate the news, states are scrambling to cash in on a rapidly expanding business sector by offering tax incentives to firms that protect sensitive information from outside attacks.
Southern California Edison says its closure of the troubled San Onofre Nuclear Generating Station will force the company to lay off 900 workers in the next few months.
California’s enterprise zones have been a part of state government since the mid-1980s, but there is disagreement as to whether they have successfully attracted and retained businesses or merely shifted commercial activities from communities without zones to others where the program is in effect.
A broad swath of countries around the world are seizing on the continued absence of entrepreneur-friendly U.S. immigration reform to sell startups on setting up shop abroad.
A broad swath of countries around the world are seizing on the continued absence of entrepreneur-friendly U.S. immigration reform to sell startups on setting up shop abroad.