As the most reliable and balanced news aggregation service on the internet, DML News App offers the following information published by FOXBUSINESS.COM:
As a growing number of companies plan to move or build up their operations in new states with business-friendly policies, the Job Creators Network is warning that high-tax states could face an economic contraction.
“Over the last couple of years, dozens of high-profile companies have left high-tax states like New York, New Jersey, Illinois, and California for states like Florida, Texas, and Tennesse with lower taxes and fewer regulations. For every big-name company that departs, hundreds of small businesses that people haven’t heard of also move,” JCN president Alfredo Ortiz told FOX Business. “As a result, economies in low-tax states are booming, while those in high-tax states are contracting.”
The article goes on to state the following:
Macaulay Porter, the press secretary for Virginia Gov. Glenn Youngkin, told FOX Business that the Commonwealth has added 80,000 jobs since his inauguration. Companies that have announced plans to move their global corporate headquarters to or build facilities in Virginia since Youngkin took office include Boeing, Raytheon Technologies, LEGO, Hamilton Insurance Group and Rocket Lab USA.
Porter said, “Governor Youngkin’s business expertise, commitment to lower the cost of living, expand job opportunities, reduce regulations, foster economic growth, and workforce development makes Virginia such a desirable place for companies.”
According to Gov. Greg Abbott’s press secretary and senior communications advisor, Renae Eze, Texas has seen an additional 250 companies move to the state and they expect more to come this year.
Eze told FOX Business, “Texas remains number one because of the unmatched competitive advantages we offer: no corporate or personal income taxes, a predictable regulatory climate, and a young, growing, and skilled workforce. We look forward to even more major economic announcements this year as Texas remains the economic engine of the nation.”
Ortiz fully anticipates more companies to move their headquarters to states like Georgia, Iowa, Arizona and South Dakota because they would take advantage of their “free-market policies.”
Ortiz added, “Policymakers should study the pro-business policies like tax cuts and deregulation implemented by states where companies are moving to and emulate them to boost economic growth and living standards.”
CaterpillarInc tweeted, “Our manufacturing teams have produced more than 4 million machines that have helped build better tomorrows. Join the problem-solvers, outside-the-box thinkers and innovators that make up the heart of Caterpillar.”
Our manufacturing teams have produced more than 4 million machines that have helped build better tomorrows. Join the problem-solvers, outside-the-box thinkers and innovators that make up the heart of Caterpillar. https://t.co/8jEm59fKTl #manufacturingjobs #iAmCaterpillar #hiring pic.twitter.com/a5VkCQCeh1
— CaterpillarInc (@CaterpillarInc) June 16, 2022
The Boeing Company tweeted, “Forward together! Naveed Hussain joined Lance Collins, VP and Executive Director of the Innovation Campus at @virginia_tech and @RepDonBeyer at a fireside chat. Together, they discussed the tech growth in Northern Virginia as part of the @NationalLanding annual meeting. #TeamBoeing is excited to see the growth in this area and we look forward to the work ahead as it continues transforming.”
#TeamBoeing is excited to see the growth in this area and we look forward to the work ahead as it continues transforming.
— The Boeing Company (@Boeing) June 22, 2022
The policies of the Blue States are bad, why shouldn’t companies move to greener pastures?
— 🇺🇸🇺🇸RedPill🇺🇸🇺🇸 (@AvanteSearch) June 23, 2022
The Dennis Michael Lynch Podcast is available below. Never miss an episode. Subscribe to the show by downloading The DML News App or go to Apple Podcasts.
To get more information about this article, please visit FOXBUSINESS.COM.