More Company Headquarters Leaving Business-Bashing Blue States for Red States

The shift in companies leaving blue states is continuing. That shouldn’t be a surprise, considering that extremist Democrat politicians overly tax, regulate and bully companies while ignoring safety of their residents by with lax policies on crime and civil disorder. Businesses relocating from Colorado, Illinois, New York and California within the last two weeks are listed below.

Departing Colorado

I now consider Colorado to be a blue state, considering that voters put the radical Democrat Jared Polis in as Governor. On Aug. 29, a video appeared showing armed men in one of three Aurora apartments that members of a Venezuelan gang took over. Despite the evidence, Gov. Polis dismissed as “imagination” the event that was frightening to tenants forced to pay rent to the armed criminals.

Quite disturbing is the Governor’s spokeswoman calling the situation a “misinformation campaign,” adding that “[Governor Polis] hopes that the city council members in charge stop trashing their own city when they are supposed to keep it safe.” According to the New York Post, more than 40,000 migrants have arrived in the Denver area since December 2022. Colorado is a sanctuary state for illegal immigrants.

Financial services firm TIAA will close its Denver headquarters in 2026 and relocate 1,000 jobs to Frisco, Texas, where it constructed a 15-story corporate center. Fleeing Denver will occur three years before its building lease expires in 2029, saying that the move will “provide substantial savings in rent and operational costs – savings which TIAA can then invest in business needs and serve the best interests of clients.” Specific Texas advantages include lower taxes, more common sense in the regulatory environment, lower employee housing costs, and a welcoming attitude toward business.

Also, the Professional Bull Riders, Inc. (PBR), the largest bull riding organization in the world, is moving its headquarters from Pueblo, Colorado, to Fort Worth, Texas, saying, “We felt like we were coming home for the first time in a long time.”

Goodbye Illinois

Morton Salt, founded in the Windy City 173 years ago, is relocating its HQ from Chicago to Overland Park, Kansas, citing the state’s hostile business climate. Other companies share Morton’s view of Illinois, but not all have the freedom to say so publicly. In what some might consider old news, in 2022, Ken Griffin moved his family, his enormous wealth (in the billions of dollars) and his trading firm, Citadel Securities. from Chicago to Miami, Florida. In an Aug 30^th update, Griffin announced that he will build an ambitious $1 billion real estate project in Miami – a 54-story, 1,032-foot-tall office tower with 1.3 million square feet to house the new HQs of his companies.

So goodbye to Gov. J.B. Pritzker, who likes high taxes and never-ending regulations, and also adios to Chicago Mayor Brandon Johnson, who says the city’s budget deficit will grow to nearly $1 billion next year – and he and his clueless city council members are irresponsible in how they deal with Chicago’s rampant, inexcusable crime. Illinois is a sanctuary state for illegal immigrants.

Leaving New York

Last year, the big news was “Major investors pull business from New York City following Trump verdict.” Yes, the phony civil fraud case and others have caused corporate CEOs, investors, and business owners to become fearful of New York’s reckless politicians — e.g., Gov. Kathy Hochul, Attorney General Letitia James, Manhattan District Attorney Alvin Bragg, Judge Arthur Engoron and Judge Jual Merchan. These people operate in a way that resembles officials in banana republics – which is why I recommend companies leave New York state and city for the much greener pastures found out of state.

Now, in 2024, the companies moving their New York City headquarters include Nano Nuclear, which is leaving for Oak Ridge, Tennessee, and Foot Locker’s HQ, heading for St. Petersburg, Florida; Comtech, a global technology firm, is relocating its headquarters from Melville on Long Island to Chandler, Arizona.

In a brief history, the New York Post reported, “New York loses $1 trillion in Wall Street business as firms flee the city.”Nearly 160 Wall Street firms have moved their headquarters out of New York since the end of 2019, taking almost $1 trillion . . .. in assets with them. “The mass migration threatens a crippling economic blow: Last year, Wall Street accounted for 16% of all the economic activity in the city and 7.3% of economic activity statewide. The latter figure is the highest in the nation by far.” New York State and New York City are sanctuaries for illegal immigrants.

Someone should do a bumper sticker that says, “Forced to Leave NY by Kathy Hochul, Letitia James, Alvin Bragg, Arthur Engoron & Jual Merchan.

Leave California

Canoo, an electric vehicle manufacturing startup, is moving its headquarters from Torrance in Los Angeles County to Justin, Texas. This is on the heels of Chevron moving its HQ to Texas because “California is a tough place to do business,” Meanwhile, Elon Musk is relocating the global HQ of X (formerly Twitter) to Austin and Space X to Starbase, Texas. The announcement came after Gov. Gavin Newsom signed an outrageous bill prohibiting schools from notifying parents of their children’s gender identity – a dictator-like behavior towards families and problematic for companies concerned about their employee’s well-being. Meanwhile, another insult to California residents is found in this story: California legislature passes bill banning voter ID laws.  – little wonder since California is a sanctuary state for illegal immigrants.

Population Migration Mirrors Company Moves

Forbes, in a recent report headlined Blue State Cities See Largest Population Loss As Red State Cities Boom, reported: “Using Census Bureau data, the Brookings Institution [found that] the five major metro areas in the U.S. that have experienced the greatest population gains since 2020: Dallas, Houston, Phoenix, Atlanta, and Austin. The five cities with the biggest population decline during that same period include New York, Los Angeles, Chicago, San Francisco, and San Jose. . .. there is a political trend here that is hard to miss. The cities gaining the most people in recent years are all located in states where Republicans have total control of state government. The metro areas that have experienced the biggest population decline, meanwhile, are all in states that Democrats completely run.”

Elon Musk Is Correct

It’s little wonder that Elon Musk calls Democrats the party of “division, hate.” After all, these states have politicians who support gender mutilation of girls and boys, permit men in women’s bathrooms and sports, oppose requiring ID for voting, levy enormous tax increases, create division among racial groups, release lawbreakers with little or no bail, and encourage illegal immigration by offering amnesty, cash, housing, and promises of free medical care and free college.

We will see more businesses and individuals relocate to red states, where Governors and other public officials are fair-minded and refrain from attacking members of the opposite political party, as do Democrats with their bizarre, immoral and unconstitutional techniques to tilt election results.

Call Joe Vranich at 469-907-4544 for a no-obligation exploration of whether a relocation, expansion or consolidation in a new community makes sense for your company. Joe is The Business Relocation Coach – “Helping Businesses Grow in Great Locations.”

#KathyHochul, #LetitiaJames, #AlvinBragg, #ArthurEngoron, #JualMerchan, #JaredPolis, #GovPolis, #JBPritzker, #GavinNewsom, #LeaveColorado, #LeaveIllinois, #LeaveNewYork, #LeaveCalifornia, #DamocratsHateBusines, #IllegalImigration, #SanctuaryStates, #SanctuaryCities