Is California bad for business? A lot of businesses across the state seem to think so with big companies such as eBay, Oracle, Adobe, and Electronic Arts moving facilities from the Golden State over to Utah. So what happened to what's been one of the most prosperous states in the country?
Today on “Varney & Co.” Business relocation coach Joseph Vranich said California’s problems don’t stem from one main issue. “There is no one main reason,” Vranich said. “I call California’s business departures death by a thousand cuts.”
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Vranich said all the policies being put forward by the government of California are driving businesses away to other parts of the country. “There’s high taxes, excessive regulation, unionism that goes to the extreme,” Vranich said. “So when you put it all together this is a multitude of reasons why companies are ready to leave the state.
Business is struggling across the country, but while most states are doing whatever they can to hold onto jobs, Vranich said it seems California is doing its best to drive business elsewhere.