Bloomberg the Company

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Follow Us

Industry Products

Businessweek Archives

Cal I Forn Ia, We Won't Leave Whoops!


In Business This Week

CAL-I-FORN-IA, WE WON'T LEAVE--WHOOPS!

Business-bashing in California is suddenly very passe. Long known for its regulatory zeal, the state recently streamlined its process for issuing environmental permits. It also adopted changes that will cut business taxes by about $500 million a year--including a 6% tax credit for new investments and elimination of the 5% sales tax for startups. The state has also revamped its workers' compensation laws.

But will all this improve the once-golden state's luster? The investment-tax-credit changes alone could boost spending by about $8.8 billion over 10 years--enough to offset the estimated 500,000 jobs the state has lost in recent years. And Governor Pete Wilson recently basked in testimonials from some Hughes Aircraft execs, who said they've decided not to flee, thanks to the new attitude. Great news! Except that Hughes has already moved much of its manufacturing to Tucson.THANE PETERSON


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus