NEWS: Nestlé, Other Businesses Flee California
Nestlé has become the latest business to flee California, citing increasing housing costs and tax rates. Nestlé opened their new headquarters in Virginia, where the corporate and individual tax rate is much lower. Virginia also has much more lax labor laws and regulations. Nestlé won’t be the last business to leave California, as the $15 minimum wage is expected to drive away 700,000 jobs.
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