Tesla Moves to Texas

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dukkha

Verified User
The move to Texas means that Elon Musk will increase his chances at avoiding a 13.3% state income tax on the capital gains he takes in the event he sells Tesla stock or receives bonuses — though California’s Franchise Tax Board can be known for their relentless pursuit of income taxes across state lines. Texas has no personal income tax.

He’s not alone. What started as a trickle may become a flood.


Musk’s personal change of address follows quickly on the heels of Hewlett Packard Enterprise moving from Silicon Valley to Houston, Joe Lonsdale, like Musk, a Silicon Valley founder (Palantir and Addepar) and venture capitalist moving to Austin, and innovative millionaire podcaster Joe Rogan moving from Los Angeles to Austin.

according to the U.S. Census Bureau, it isn’t just the rich and famous who are leaving California. Every year for the past 15 years, about 100,000 more Californians leave the state than other Americans move in, with the most popular destination consistently Texas, 1,300 miles to the east.

Commenting on California’s business climate, Musk likened the Golden State to a sports team that starts winning for so long that its players take things for granted and get complacent and entitled and “…then they don’t win the championship anymore.”
 
Tesla looked to Texas to begin building a new Gigafactory this summer, breaking ground outside of Austin in a matter of weeks. A similar effort in California would have consumed five years with millions of dollars tied up in environmental lawsuits likely brought by labor unions — a common practice known in California as “greenmail.”

Musk criticized California’s heavy regulatory climate, employing the analogy, “You have a forest of redwoods and the little trees can’t grow.” He suggested this results in government-enforced monopolies and duopolies because startups get strangled by high regulatory compliance costs.

California should “just get out of the way” of innovators, Musk said.
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https://www.foxbusiness.com/business-leaders/tesla-elon-musk-california-texas
Texas Gov. Greg Abbott frequently tells businesses about the benefits of moving to Texas. Business relocation experts say firms can save about 32% of their operating costs by moving out of California to Texas, largely due to tax and regulatory savings, but also lower energy costs, land costs, and housing costs for employees
 
now if those savage and ignorant california liberals would leave their idiot regressive ideas in california when they come to better states to chase a job that they took for granted
 
I appreciated most Musk's comments about California being on a winning streak and now resting on its laurels so to speak along with taking for granted what it has. Besides the natural beauty the reason so many people from around the U.S. and the world want to come here is there is a gathering of like minded entrepreneurs, venture capitalists etc. who have created this amazing ecosystem that so many want to be a part of. The success feeds upon itself.

But the state (and local) government keeps pushing the envelope with higher taxes, onerous regulations and high cost of living making it harder to attract certain workers. Many are willing to pay more but at a certain point you start losing people and that's what's happening now. It's not going to happen overnight but over a period of time and that's what we are seeing.
 
I expected Boeing to leave Seattle years ago and start a manufacturing campus in Texas but the reality is the talent isn't there the talent is in Seattle so effectively Boeing is stuck there. Same thing is likely going to be true for most of tech a gigafactory is all about robots so he doesn't need any locals to work there largely.
 
SmarterthanYou said:
now if those savage and ignorant california liberals would leave their idiot regressive ideas in california when they come to better states to chase a job that they took for granted
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The people that are moving from California to Texas are the impoverished ones the ones that can't afford the cost of living in California
 
California has long been the least business friendly state there is. It is hemorrhaging companies and businesses.
 
Always humorous how some think companies moving out of California or New York signals some kind of death blow for those States, they come they go, there is a reason why those companies started in places as New York and California
 
Primavera said:
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Can't help thinking that it's the first of many such moves.
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On a much smaller scale a buddy of mine (G.B.) has 25 and counting published novels. Teaches anatomy and physiology at SDSU , so lives in S.D. He's got Bob Gale (of Back to the Future fame) looking hard to make a production from one of his books.
Anyways G.B. needed to start his own production company and eventually gave up in CA after many roadblocks and got it done in less than two weeks in Louisiana where he's originally from.
Now he can move forward.
G.B. says it seems the regulations in CA are there to do all they can to keep one from starting a business.
 
SmarterthanYou said:
so companies are leaving, that means jobs are leaving, and an obviously liberal biased media shill is trying to tout that it's only uneducated people who can't hack it in an elitist state of commerce...................and you call me uneducated ROFL
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when you pull shit out of your ass all you have is an empty ass.
 
dukkha said:
The move to Texas means that Elon Musk will increase his chances at avoiding a 13.3% state income tax on the capital gains he takes in the event he sells Tesla stock or receives bonuses — though California’s Franchise Tax Board can be known for their relentless pursuit of income taxes across state lines. Texas has no personal income tax.

He’s not alone. What started as a trickle may become a flood.
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It became a flood years ago. Hewlett Packard just announced a move from CA to Houston and a large number of companies have moved to Texas from other states like CA.

Texas gets 60,000 people a year from CA.
 
Flash said:
It became a flood years ago. Hewlett Packard just announced a move from CA to Houston and a large number of companies have moved to Texas from other states like CA.

Texas gets 60,000 people a year from CA.
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people also move into Cali. Texas gets Calis poor and Cali population is growing
 
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