FACT BRIEFIs Nevada one of the most popular destinations in the country for ex-California businesses?
YES
Due to Nevada's business-friendly tax structure, operational cost advantages and proximity to California, Nevada is a popular relocation destination for California businesses across all industries.
From 2018 to 2021, Nevada ranked third as a relocation destination with 25 companies moving their headquarters out of California to Nevada, according to a Hoover Institution economics paper providing the most comprehensive data on the topic. Texas received by far the most relocations at 132, followed by Tennessee at 31.
In just the first six months of 2021, 74 Californian businesses relocated their headquarters—double the rate for each of the three previous years, according to the Hoover Institution.
This Fact Brief is responsive to conversations such as this one.
Sources
Economic Development Authority of Western Nevada Economic Development Authority of Western Nevada
Hoover Institution Hoover Institute, p. 5
Hoover Institution Hoover Institute
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