These Golden State companies, which number 60 in all, have expanded, relocated or moved jobs to Texas, Perry said. Eleven of the businesses have relocated their headquarters to the Lone Star State, including longtime Los Angeles-based Occidental Petroleum.
The layoffs were felt at the studio’s Culver City headquarters and at international offices. Among the divisions said to be deeply affected by the staff reductions is Sony Pictures Interactive, the studio’s digital marketing arm.
The Palo Alto electric car maker’s Model S sedan is the state’s new eco-luxury status symbol. Californians bought more than a third of Teslas sold globally last year. Residents of the state pack the order list for Tesla’s next offering, a sport utility vehicle.
California pollution-control policies enable Tesla to rake in tens of millions of dollars each year from selling environmental credits to other automakers — a key source of Tesla’s revenue.
When it comes to building a $4-billion to $5-billion battery factory that will employ 6,500 workers, Tesla is shunning the Golden State.
California appeared to go in the opposite direction of the national economy in January, shedding a net 31,600 jobs that month, the state’s Employment Development Department reported Friday.
While lawmakers begin discussing ways to fix California’s cash-strapped teacher pension system, another long-term financial problem continues to fester.
The Commerce Department sharply reduced its estimate of fourth-quarter growth to a moderate 2.4% annual rate. Friday’s revision downsized big gains in consumer spending and exports from its initial estimate of 3.2% in January.
Set to be released Thursday, the study entitled “A Hollywood Exit: What California Must Do to Remain Competitive in Entertainment — and Keep Jobs,” paints a bleak picture of the jobs California has lost to New York and other rivals due to the proliferation of film tax credits and rebates.
Huy Fong Foods, the creator of Sriracha hot sauce, has been closed to the public for more than 30 years, fearing that competitors would steal trade secrets. But after months of Irwindale residents and city officials accusing the sauce maker of flooding their city with an offensive spicy odor, the notoriously private company has thrown open its doors.
State Sen. Noreen Evans (D-Santa Rosa) on Wednesday revived a proposal to tax oil pumped from the ground in California, saying the $2 billion it would raise annually could help restore the affordability of higher education and improve social services and parks.
An ordinance soon to be introduced in the City Council is expected to require 87 large hotels to pay a $15.37-an-hour “living wage,” nearly double California’s current $8-an-hour minimum.
In January, as businesses struggled through a weak post-holiday period in a month that already tends to be slow, industry sales slid by their largest margin in 18 months.
The changes needed to slash emissions enough to reach the mid-century target will be so great that the state should set an interim goal for about 2030, the California Air Resources Board said in a report released Monday.
Gov. Jerry Brown took a swipe at California’s critics during his State of the State address to the state Legislature on Wednesday, praising a “California comeback” he said delivered a million new jobs, a budget surplus and higher minimum wage.
Gov. Jerry Brown said Monday his administration would soon declare that California is officially in the midst of a drought.
Although his proposed budget would raise general-fund spending by more than 8%, to $106.8 billion, he continued to portray himself Thursday as a necessary check on fellow Democrats eager to spend. For example, Brown declined to commit money for universal preschool, one of lawmakers’ top priorities.