The mass exodus of business and the wealthy middle class from the most “progressive” states in America – New York, California, Illinois and New Jersey – is gaining momentum
Last week IT giant Hewlett Packard, with an annual revenue of $50 billion, announced the relocation of its headquarters from Palo Alto to Houston, Texas. This is symbolic in many ways: it was HP, created back in 1939, that was at the origin of Silicon Valley as such.
The management of HP emphasizes that “relocation” to Texas will allow them to save billions of dollars because they do not have to pay incredible California taxes. In addition, they will no longer need to comply with the draconian quarantine measures of the once “golden state”.
And today, Ilon Mask has already made a similar statement. He is gradually moving key employees of Tesla and SpaceX from California to Austin. And he has already officially moved to Texas, where he plans to establish the main production of his electric cars.
In response, the Democrats in California have sharply tightened the rules of emigration – now all “refugees” from their state will have to pay property tax to the local treasury for another 10 years.
Meanwhile, Goldman Sachs is moving its asset management division of $41 billion from New York to South Florida. Another 8-10 major banks and hedge funds are ready to follow in its footsteps, hoping to create “South Wall Street” in Florida’s lucrative investment climate.
In the first six months of the crisis and pogroms, more than 40% of the affluent New Yorkers have left for neighboring states. A similar “great migration” can be seen in other major metropolitan areas.
People are fleeing the liberal paradise created there on a massive scale. The only problem is that after moving to the more successful states, these migrants continue to vote for the same failed policy that led to the destruction of their past residences – this is what we saw in the recent elections.