Relocating to Austin, Texas
California tax increases prompt businesses to ask about moving
- Is California Governor Jerry Brown on the payroll of the Austin Chamber of Commerce?
Greater Austin Chamber of Commerce officials, who sent a representative on Gov. Rick Perry’s recent California recruiting trip, report a spike in Golden State companies inquiring about relocating to Central Texas.
Californians seem responsive to Texas’ low tax message, especially since the most recent state election in November, when income and sales taxes increases were approved by California’s voters in a measure called Proposition 30.
“We have had a spike of double or triple the amount of normal (business relocation) activity since the November election in California,” said Dave Porter, senior vice president for economic development at the Greater Austin Chamber of Commerce reports the Austin Statesman.
Austin’s latest business recruit from California was Visa Inc., which decided in December to create nearly 800 technology jobs here over the next five years. Visa will receive $1.6 million in city of Austin incentives and another $7.9 million from the state’s Texas Enterprise Fund to create a “global information center” at 12301 Research Blvd.
Californians seem responsive to Texas’ low tax message, especially since the most recent state election in November, when income and sales taxes increases were approved by California’s voters in a measure called Proposition 30.
“We have had a spike of double or triple the amount of normal (business relocation) activity since the November election in California,” said Dave Porter, senior vice president for economic development at the Greater Austin Chamber of Commerce reports the Austin Statesman.
Austin’s latest business recruit from California was Visa Inc., which decided in December to create nearly 800 technology jobs here over the next five years. Visa will receive $1.6 million in city of Austin incentives and another $7.9 million from the state’s Texas Enterprise Fund to create a “global information center” at 12301 Research Blvd.
The Austin chamber regularly recruits in California, sending about eight delegations of chamber members a year to talk with various business prospects in that state.
Many California tech companies are familiar with Austin because of its existing tech community, the presence of the University of Texas at Austin and the local tech workforce.
Now, with the California tax hikes, Porter said, the chamber is getting inquiries and visits from high-tech executives who are considering relocating their headquarters operations out of California to avoid that state’s income taxes.
“We have had tons of prospects and inquiries from California,” Porter said. “And the common theme is: the sooner (the move out of California) the better.”
Other states, including Nevada and Michigan, also are competing for relocation projects from California, and they are actively offering tax incentives.
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