Business Is Booming In Arizona As California Companies Set Up Shop
2017 saw over 50,000 Californians move to Arizona due to the spiraling cost of living in the former. But it's not only new residents that the Copper State is gaining as it also welcome new business coming in as California companies continue to be driven away by burdensome regulations and crippling costs.
Reports by Chief Executive Magazine in the last four years have Arizona ranking consisently in the top ten best states for business, offering innovative-friendly regulation, low taxes, a talented and qualified workers as well as an exceptional quality of life.
On the flip side, California has ranked last since 2015, highlighted by a trend of nearly 50 Golden State state companies setting up shop in the Grand Canyon State. This growing number of California companies migrating to Arizona include the likes of Google and Apple, generating over 18,000 jobs with more than $9 billion in capital per reports from the Arizona governor’s office.
In addition, Amazon, Acronis, Valor Global and TEKsystems have announced expansions. Infosys is looking to hire 1,000 workers by 2023 with the creation of innovation hub in Phoenix.
The Greater Phoenix Economic Council also reports that around a hundred or so companies evaluating Greater Phoenix are from technology, corporate services, and manufacturing businesses originating from California technology. GPEC is behind the #CAStruggles campaign and TimeToGetOut.io website promoting the Greater Phoenix area as the place to be for businesses and individuals alike looking to enjoy benefits ranging from lower corporate income tax, lower median home cost and lower top individual income tax rate.
Gov. Doug Ducey (R-AZ) said it best in a statement. “With a booming economy, budget surplus, talented workforce, low regulation and tax environment, and unbeatable quality of life, it’s no wonder business leaders increasingly want to come to Arizona.”
“The word is out on Arizona. We are open for opportunity. And we will continue to implement smart policies that grow jobs and allow us to continue investing in the things that matter.”
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Shanna Day Dream Home Team
Keller Williams Realty East Valley