close Video Will Elon Musk follow through on his threat to move Tesla from California to Texas? Reaction from former California Assemblyman Chuck DeVore, vice president of the Texas Public Policy Foundation. Get all the latest news on coronavirus and more delivered daily to your inbox. Sign up here. Tesla founder and CEO Elon Musk threatened to move his company headquarters and manufacturing plant, California’s sole remaining auto factory, out of state — to Texas and Nevada. Neither Texas nor Nevada has an individual income tax and their corporate taxes are lower, as well. With California’s higher taxes, greater red tape compliance costs, higher labor and land costs, and more litigious environment, business analysts estimate that companies can save 32 percent of their operating costs by moving out of California to states such as Texas. LIZ PEEK: CORONAVIRUS REOPENING – DEMOCRATS RESIST, AMERICANS PERSIST. HERE’S WHY California Gov. Gavin Newsom, a Democrat, gave the clearance for manufacturers in California to reopen on Friday, but Alameda County has extended its local shutdown order indefinitely. The county lockdown order brought Musk’s frustration into the open, as it prevents his flagship Fremont assembly line from reopening. More from Opinion Greg Gutfeld: Escaping the kid’s table – Why everyone got the pandemic wrong,… Read full this story
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Chuck DeVore: Elon Musk's Tesla to Texas? Calif. business exodus may shift into high gear because of this have 320 words, post on www.foxnews.com at May 11, 2020. This is cached page on wBlogs. If you want remove this page, please contact us.