According to a report from IBD, Nestle is leaving the state of California and relocating because of the state’s anti-capitalist policies that are having a crushing effect on business.
Investors Business Daily reported:
Nestle USA is moving its headquarters from Glendale, Calif., a pocket suburb just miles from downtown Los Angeles, to Rosslyn, Va., near Washington, D.C., and taking 1,200 California jobs with it. Why? As many companies have found, California is an awful place to do business.
The $26-billion-a-year food conglomerate is discreet, of course, about its reasons, citing a desire to be closer to its core customers and other bland corporate pabulum. But the fact is, Nestle and its corporate brethren in California that actually make things are overtaxed and overregulated, and elected officials treat them not as honored members of the community but as rapacious pirates…
…Still, you may wonder, why did Nestle really go?
Well, apart from having higher taxes, absurd housing costs and more regulations than nearly any other state, California’s wacky laws have turned the Golden State into a venue of choice for activist groups to file costly class action lawsuits — or to launch anti-corporate PR campaigns against big, wealthy targets like Nestle…
…Such corporate harassment is now routine in a state whose top officials and local politicians — virtually all of them far-left progressive Democrats — actively despise capitalism.
According to a report released last year by Spectrum Location Solutions, Nestle joins a list of 1,680+ companies to leave the liberal state since 2008.