Many California residents move and settle in Florida. While there is a lot to be attributed to the many relocations, there are 4 key traits that are blamed for the increase in the number of people packing and leaving. Jim Doti and Raymond Sfreir looked at the large number of offshoring and used a statistical technique called “multiple regression analysis” to find out why people leave the Golden State and head to the Sunshine State. State regulations, national and local taxes, climate and job growth are all key contributors to the reasons many choose to leave California, according to Doti and Sfreir.
Recently, the Walt Disney Co. announced that 2,000 “Imagineers” would be leaving California and settling in Florida. Disney Parks President Josh D’Amaro explains the reasons for the move, noting in an open letter to employees that Florida’s “favorable business climate and lower cost of living without income tax” have greatly contributed to the decision. Many companies seem to follow the example of the Walt Disney Company and leave California to do business.
Think about it – in 2011 California’s population grew by over 350,000, a quick 10-year jump to 2021, population growth in California has fallen to virtually zero. When it comes to local and state taxes, the Tax Foundation’s Business Climate Index ranks California second in the country for state and local taxes, while Florida ranks fourth. low.
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