Nate is an East Bay community papers editor for the Bay Area News Group and East Bay Times. He edits the Hills weekly Alameda Journal, Berkeley Voice, El Cerrito Journal, Montclarion and Piedmonter newspapers; Central Costa County's weekly Concord Transcript and Walnut Creek Journal papers; and East Contra Costa's weekly East County News.
California, we often hear, is a lousy place to do business. It’s riddled with needless regulations that make surviving hard for businesses.Those are the words of this state’s detractors, who delight in noting that before this year, California had slight population declines for a while. Some of that was spurred by the movement of white collar workers toward operating from home, which began during the COVID-19 pandemic. Corporate headquarters have departed the state in droves too.
Here’s a little-publicized secret behind the ballyhooed corporate defections: Companies like Tesla, Toyota and Chevron, with headquarters now elsewhere, still conduct huge parts of their operations here. For Tesla and Toyota, it’s far more than in any other state, including Texas, now home to their head offices.
It turns out that when a major business moves its headquarters elsewhere, that makes only a small dent in California’s huge economy. In fact, when America does well, it’s largely because California does far better than most of the world. For example, two of the five most productive counties in America are in California. Los Angeles and Santa Clara counties together produce more than a fifth of the economic activity in the nation’s 23 wealthiest counties.
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