Business executives, including those in clean tech, R&D, manufacturing, and other industries highly coveted by California public officials, say the high costs of housing and real estate, poor quality education system, and expensive costs to do business are among the primary reasons why they are not locating or expanding in the Golden State. These are among the findings of a new survey of business executives recently conducted by the Pacific Research Institute (PRI).
Asked about the factors driving a decision whether to locate in California, 88 percent of the business executives surveyed said the high costs of real estate was a key factor. Among the responses, executives noted that high real estate costs make it more expensive for their companies to move into the state. Lack of housing affordability also complicates their ability to get employees to move to California.
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