Companies have been leaving California for a more business friendly environment for the last 20 years, now it is happening right in our backyard. Truckee and Nevada County are the losers this time.
Clear Capital officially announced it is moving it’s headquarters from Truckee CA to downtown Reno NV. The real estate data analytics company plans to employ 400 workers and pay an average salary of more than $60,000 per year.
“Moving our headquarters to Reno makes a lot of sense for our business for many of reasons,” said Kevin Marshall, president, in a prepared statement. “The ever-growing tech sector, the great pool of candidates in the region, the caliber of curriculum at the University of Nevada Reno, and the Reno-Tahoe International Airport all help us thrive as a nationally-focused provider of services and technology”.
No mention of the growing regulatory environment in California, but is has to be a factor when making a decision to move any company out of the state. California is 6.3% above national average when figuring the cost of doing business in the state. Nevada has some excellent tax advantages:
- No personal income tax
- No corporate income tax
- No unitary tax
- No franchise tax
These are the high paying types of jobs that the ERC is trying to attract for Nevada County. I wonder what the Economic Resource Council will have to say at the Board Meeting on Thursday the 8th of Jan. See you there.