Every week brings news of yet another Bay Area company that plans to move its headquarters out of the region — essentially saying enough is enough. Enough with drug-users shooting up across from Twitter’s San Francisco headquarters. Enough with walking by someone defecating in the street in the city’s Financial District, enough with avoiding confrontations […]
AEND Industries Inc. plans to move its HQ from Huntington Beach, Calif., to Hutto in 2019. The company manufactures wheels for skateboards, long boards, scooters, wheelchairs, derby cars and other vehicles. It wants to build a 19,200-square-foot facility at North Town Commons Business Park, near the intersection of FM 1660 North and Limmer Loop. AEND […]
First, the evidence that something is changing. Last year more Americans left the county of San Francisco than arrived. According to a recent survey, 46% of respondents say they plan to leave the Bay Area in the next few years, up from 34% in 2016. So many startups are branching out into new places that […]
When Ajay Royan of Mithril Capital, an investment fund, asks rhetorically “How are you supposed to have a startup in a garage if the garage costs millions of dollars?”, he is barely exaggerating the problem. The immense success of its tech industry means that the San Francisco Bay Area in which Silicon Valley sits has […]
Even one of the most iconic figures of Bay Area business, Charles Schwab founder and Chairman Chuck Schwab, sees more people leaving California as a result of the tax changes, and not just at the upper end of the income scale. “A lot of companies will be moving their people out of here, unless something […]
Fewer U.S. workers are moving around the country to seek new job opportunities, as changing family ties and more openings near home make people less willing to uproot their lives for work. About 3.5 million people relocated for a new job last year, according to U.S. census data, a 10% drop from 3.8 million in […]
The North Face is packing up all that gear and moving its headquarters, along with hundreds of jobs, out of the Bay Area. The outdoor activewear and gear maker’s parent company, VF Corp., announced this week that it is splitting its outdoors and denim businesses into two publicly traded companies. The outdoors operation in Alameda […]
San Francisco’s narrowing middle class, already squeezed by the high cost of living could take another hit if a new business tax is approved in the November election, according to the city’s Office of Economic and Workforce Development. The measure, approved for November’s ballot last month, would levy an average of about 0.5 percent gross […]
There’s much more at stake than this one man’s tax liability, because of fears among state officials that other high-income Californians might emulate him and change their residences to escape state taxes. By siding with Hyatt on harassment, the Nevada courts have, in effect, declared that the Silver State will welcome and protect tax refugees […]
There are now 487 electric-vehicle makers in China, according to the latest official tally, and most are brand new. In June, the National Development and Reform Commission and China Construction Bank announced a new $47 billion fund for EVs and other high-tech industries. Regional governments are making similar funding commitments. Direct government subsidies on electric-vehicle […]
Tesla Inc. will build a factory in Shanghai, the city government announced on Tuesday, a move expected to boost sales in the world’s largest auto market but one that could also draw fire as U.S. manufacturers face political pressure to keep jobs at home. The electric-car maker will set up a plant with an annual […]
Does taxing the rich lead to migration of top income earners? In principle, barriers to migration for the wealthy are low, suggesting that even small changes to top tax rates might set off tax flight. Since top earners are also the largest taxpayers, the potential flight of the rich can set off a race to […]
California lost a very small but statistically significant percentage of high-income residents after voters approved Proposition 30 — the 2012 ballot measure that raised the top state income tax rate to 13.3 percent, the highest in the nation — according to a new working paper from three researchers. The state lost an estimated 138 high-income […]
Los Angeles has missed the final cut for a U.S. Army procurement center headquarters, according to a media report. Military.com reported on June 19 that Army Col. Patrick Seiber, spokesman for the U.S. Army Futures Command Task Force, confirmed to that publication that five cities were still under consideration for the procurement headquarters: Austin, Texas; […]
Teradata Corp., a publicly traded data storage and analytics firm, said Wednesday it is moving its corporate headquarters from Dayton, Ohio, to San Diego – where it already employs more than 1,000 workers. The move is part of Teradata’s ongoing transition from being primarily a data warehousing company to a data analytics firm, where it […]