California’s golden days may be numbered as the country’s largest state faces a looming economic crisis that could have far-reaching effects beyond its borders.
Business owners in the state feel personally torn between their love for California’s history and the present-day realities of high crime rates and soaring taxes.
From small business owners to CEOs of major corporations, the sentiment is the same: something has to give. The latest numbers from RedBalloon and PublicSq.’s Freedom Economy Index reveal that more than 86% of California business owners feel that crime has climbed in their neighborhoods.
This has led to an overwhelming 67% of these employers considering relocating their headquarters out of state.
The survey, which includes 80,000 business owners, with 10% based in California, highlights the growing concern among entrepreneurs in the Golden State.
It shows that high tax rates, anti-business policies, “woke” public school systems, and high crime rates are the top reasons for employers wanting to leave California.
According to Fox Business,
“I have considered moving to a different state,” Flavio Carvalho, an attorney and law firm founder in the San Francisco Bay area, told Fox News Digital. “I don’t agree with the direction California is going, and I hate the fact that I am forced to support it through my taxes.”
“We have wanted to move for at least the last three to four years,” Bulletproof Pet Products CEO and CFO Cherie Falwell also said. “Especially since Biden has been president. Things were already expensive here. Now they are so expensive we can hardly afford to do business. However, moving is expensive, and with interest rates on homes, it is difficult to move.”
“We are L.A., California natives, and have never lived or worked anywhere else,” Trish Aquino, who owns a digital marketing business with her husband Brandon, weighed in. “It was our financial strife, prospecting struggles and concern for our children’s futures that made us finally consider a move to Frisco, Texas.”
The three business owners all agree that Florida, Texas, and Nevada top their list of potential new homes due to their more business-friendly environment and lower taxes.
The exodus of businesses from California, if it continues, could have catastrophic consequences for the state’s economy. RedBalloon CEO Andrew Crapuchettes predicts that this “invisible groundswell” of businesses planning on leaving the state will have “huge impacts” on California’s budget and overall economy.
