Valley council launches campaign to attract California companies
PHOENIX — The Greater Phoenix Economic Council launched a campaign this week to sway disenchanted Californians and their businesses toward the Valley.
Chris Camacho, president and CEO of the council, said the group has 24 branded cars driving around the San Francisco market to turn people onto their website.
“For the last 10 years, we’ve seen a number of companies, because of the tax and regulatory environment, decide it’s time to expand or relocate out of the California market,” he said.
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“And so we want to be the location of choice when these companies decide to move knowledge workers out of California into Arizona.”
According to the campaign website, 60,000 Californians moved to Arizona in 2017.
Some factors contributing to that migration include median home cost ($256,000 in Phoenix versus $954,100 in San Francisco) and corporate income tax (4.9% compared to 8.84%), the website states.
“The TimeToGetOut.io campaign is really focused on giving side-by-side comparisons for the knowledge workers and technology companies to evaluate their options,” he said.
“And we’ve seen over 200 companies over the last few decades move out of the California market into greater Phoenix.”
Camacho said the local governments’ focus on business, the economy’s growth and its diverse base help make the Phoenix area a good place for investments.
“There’s a number of young, high-growth companies and a number of major corporations … that continue to add high-wage jobs and knowledge worker opportunities in greater Phoenix, and we expect that to continue,” he said.
KTAR News 92.3 FM’s Nailea Leon contributed to this report.