PHOENIX — Numerous California companies have come to Arizona and more are on the way.
Barry Broome, president and CEO of the Greater Phoenix Economic Council, has hit California in the wallet. Broome loves helping companies relocate to Arizona from other states and countries but takes particular pride in raiding California and when it comes to that, he has no mercy.
“That’s not necessarily an economic solution for the Valley but it’s an opportunity,” he said. “We will continue to do so and be successful.”
And he believes that success will top past accomplishments. That is a shot across the bow to California, who lost three big companies to GPEC under Broome’s watch.
“eBay, Silicon Valley Bank and PayPal. So we have a lot of success. I think Charles Schwab will ultimately locate its headquarters here. California sees itself from a policy standpoint as (impenetrable) and they don’t see themselves putting their technology sector at risk. Our aerospace defense came here from California.”
In addition to these giants, Broome has convinced many smaller California companies to move east.
Broome and Garrick Taylor with the Arizona Chamber of Commerce and Industry said it’s no secret why businesses are bailing out of California and bringing the jobs and tax dollars here.
“Arizona has a much more competitive corporate and personal income tax environment.”
And, like Broome, Taylor isn’t shy about taking a swipe at California.
“When your two biggest exports are people and money, that’s not a good sign. California has hit a run where people are looking elsewhere.”
Taylor cites Phil Mickelson as an example of the frustration with the high California taxes. The professional golfer caught heat in the backlash last year after he complained about his supposed 60 percent tax rate. He later apologized saying he loved the state but he was concerned about California. Mickelson said he understood that his comments could be taken as unsympathetic by struggling job hunters who living paycheck to paycheck.
Broome understands Mickelson’s frustration. He met with several California executives last year who pull down a yearly paycheck of $2 million to $3 million each year and give up a big chunk of that to California.
“I told them by just moving to Scottsdale, just from a tax standpoint you give yourself a $300,000 per year raise and I know that San Francisco is a cool place,” he said. “But it’s not $300,000 cooler than Scottsdale.”
And Broome is lining up his next California conquest but can’t divulge the name of the company for confidentiality purposes.
“We hope to announce the opening of the headquarters for this prominent company this summer.”
- Sunscreen facts that could save your life
- 6 energy saving hacks for your home
- 5 tips for choosing a company to end your timeshare
- Water tips to save money, help save the Earth
- 5 of the most adored gentlemen in professional sports today
- The real danger of sitting at your desk
- Most surprising NBA playoff performances of the last 40 years
- 11 classic baseball movies you must see again
- Finally getting rid of fat: 3 methods that actually work
- 4 reasons cancer survivors should focus on food
- 5 spring cleaning spots everyone forgets
- 5 reasons to look forward to watching the D-backs this season
- Common virus attributed to spike in head and neck cancers
- 5 signs it’s time to end your timeshare ownership
- 3 most overlooked ways to keep your home healthy
- 6 ways the air in your home could be making you sick
- CrossFit dangers: 5 common injuries and how to deal with them
- Today's radiation treatments offer better success, fewer side effects
- Tips to make watching TV on the patio even better
- What really happens when you donate to a community college?
- Sun and skin cancer: Separating fact from fiction
- 5 critical lifestyle changes for a healthy colon
- What you need to know about Alzheimer's disease in Arizona
- Spring clean your windows like a pro with these 8 tips
- 7 films that should have won best-picture Oscars
- New plumbing technology saves money and improves your home
- Survey shows Arizona CFOs optimistic about 2016
- How chronic pain can affect your love life
- 5 potential warning signs about your child's development