California Lost Hundreds of Businesses Since 2020; Job Market Continues to Grow

Published on July 9, 2024

Hundreds of businesses have left California for other states since 2020, and while hundreds of thousands of people have joined the outflow, California’s labor market has continued to show signs of strength. According to data from Build Remote, as of June 2024, over 90 companies with more than 100 employees have left California in the last four years, including Tesla, Neutrogena, Chevron, and Ruiz Foods. At least 68 more companies with under 100 employees have also left the state, including businesses like Public Square, Hart Inc., and The Joe Rogan Experience. Some companies, like Tesla, began making moves to leave California after COVID-related policies prevented businesses from opening. Tesla CEO Elon Musk brought a lawsuit in 2020 against Alameda County—one of the company’s biggest manufacturing locations—after health regulations kept the electric car factory closed....

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