California has long been regarded as one of the most desirable places to live on the planet, with its towering redwood forests, world-class school system, and sandy beaches. The golden state's beautiful people and global food scene have cemented its status as a proven mecca for big money and talent, but that appears to be changing as an exodus of tech firms has recently decided to up sticks and make their homes in a very different corner of the United States, so today we're looking into the burning question of why are companies moving from California to Texas.
Cost of living: California was more expensive than Texas, according to MIT data. In California, the average single adult may expect to spend $3,573 per year against $2,994 in Texas. In California, raising one child for a year costs more than $32,000, compared to around $25,000 in Texas. Texas also has less expensive medical care than California on average.
Housing: MIT's calculations, housing is the single largest expense category, and it is also the one where Texans have the greatest advantage. Housing costs in the Golden State are 59.1 percent more than in the Lone Star State. For larger families, the gap was more evident.
Taxes: Although Texas has lower income taxes, it also has higher property taxes and a lower percentage of residents who are insured. On a per-resident basis, California has substantially higher income taxes and spends 60% more than Texas.
According to data from the United States Census Bureau, 653,000 people decided they'd had enough of California's glitz and opted to relocate elsewhere last year. The most popular destination for these relocators was Texas. Internal migration trends in Texas are usually tricky, but it's worth noting that this year's Texan exodus has accelerated, with some extremely high-profile people and firms making their way out to the lone star state.
This is original content from NewsBreak’s Creator Program. Join today to publish and share your own content.