Phoenix group looks to cash in on Calif. tax
PHOENIX — A new tax in California could force some companies to move and a Phoenix economic group is looking to take advantage.
Californians passed a $6 billion tax increase that raises income taxes on those making more than $250,000 yearly and the state sales tax for all residents.
Barry Broome with the Greater Phoenix Economic Council is offering 50 of California’s top CEOs a free plane trip to Phoenix and accommodations to check out the possibilities of moving their operations here.
“This tax is the most dangerous tax in the history of California,” he said. “Top innovators are going to flee the state. This isn’t about call centers or manufacturing centers. This is about going after the elite talent and getting them to consider greater Phoenix.”
Broome said he’s not usually a fan of poaching California businesses but in this case he’s willing to make an exception.
“This tax is going to put a nail in California’s coffin,” he said, adding that overall Arizona needs its neighbor to the west to turn around its economy.
Broome said one of the nation’s top 15 CEOs has already taken up his offer to check out the Valley, but he can’t reveal the name.