NASHVILLE, Tennessee (WKRN) – New research shows the Volunteer State is the second most popular destination for businesses fleeing California, just behind Texas.
Kaiser Aluminum, Oracle and Mitsubishi, among the most recent and popular additions, will soon be additions to our state.
“Life has become difficult for people in California and they love the culture and lifestyle of Middle Tennessee and they love the business environment,” said Ralph Schulz, CEO of the Nashville area chamber of commerce. .
Over the past two years, California has suffered a significant loss of corporate headquarters to other states, including ours. Schulz says he’s definitely seen a slight uptick in recent years.
“It has become the least business friendly state, not just in the United States but around the world,” said Bob Rolfe of the Department of Economic and Community Development.
A report from the Hoover Institution at Stanford University found that from the first of 2018 to June 30, 2021, 25 California headquarters scrambled to put boots on the ground in Tennessee.
“These headquarters is the real trophy at the end of the day,” said Rolfe. “It’s the team that makes all the decisions, it’s the team that invests in the community locally and makes a location for capital spending.”
These communities now include Franklin, Brentwood, Dayton, La Vergne and Columbia, 15 of the 25 seats that chose to move to Music City.
“The reason you want to see these companies consider Middle Tennessee is because they are going to provide increased opportunities for the people who are here,” said Schulz. “The whole secret here is when you have growing jobs, you have expanding opportunities, expanding options, you have growing cultural institutions, and the city gets stronger. “
We’re not complaining here, but why are they choosing us?
“Tennessee’s work ethic and skilled workforce attracts companies,” Schulz said.
Additionally, the Fraser Institute noted that Tennessee is one of the top five states measuring areas with the most economic freedom in areas such as taxes, the job market, legal systems, property rights, and trade regulations.
Chief Executive Magazine ranks Tennessee as the third best states for business, behind Florida and Texas.
“When I joined the state four and a half years ago, it was about incentives, then workforce development and today it’s about quality of life and Tennessee really stands out from our other peer states, ”said the commissioner, adding that we are just warming up.