On today’s show we’re talking about a new report that was issued in the past week by Spectrum Location Solutions that examined the departure of more than 13,000 companies from California over the past decade.
Many real estate investors look at data from U-haul to see where people are moving. But that only talks about population migration. People who use U-Haul are not the captains of industry. Of far greater importance is the migration of capital, and head offices. After all, where the head office is located ultimately determines which jurisdiction will get the bulk of the tax revenue.
During the study period, $76.7 billion in capital funds were diverted out of California along with 275,000 jobs – and companies acquired at least 133 million sq. ft. elsewhere – all of which are greatly understated because such information often went unreported.
