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California gubernatorial candidate: Companies leaving state like 'a snowball rolling downhill'
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California businessman and Republican gubernatorial candidate John Cox believes that if the state doesn't change some of its policies affecting businesses, companies are going to leave like "a snowball rolling downhill."
Several large California companies, including Oracle and Tesla, moved their headquarters to Texas in 2020 in what some have dubbed a "tech exodus" as technology companies allowed employees to work from remote locations. But it's not just flexible work benefits that are driving people elsewhere, according to Cox.
"You might ask the question: What took them so long?" Cox, the founder of Cox Financial Group Ltd., told FOX Business. "First of all, businesses have to compete in the real world and around the world. So, they have to make products or provide services … to compete around the world. They have employees in California that are paying, in many cases, $1 million for a 2,000-square-foot home."