According to Investor’s Business Daily, Nestle is moving from Glendale, California to Rosslyn, Virginia to get away from business laws that California enacted.
In what could be an effort to fend off bad PR, an official from Glendale called the departure “no big deal.” They are saying this is a great opportunity for them since the company will be moving thousands of jobs as well.
From Investors Business Daily:
Nestle USA is moving its headquarters from Glendale, Calif., a pocket suburb just miles from downtown Los Angeles, to Rosslyn, Va., near Washington, D.C., and taking 1,200 California jobs with it. Why? As many companies have found, California is an awful place to do business.
The $26-billion-a-year food conglomerate is discreet, of course, about its reasons, citing a desire to be closer to its core customers and other bland corporate pabulum. But the fact is, Nestle and its corporate brethren in California that actually make things are overtaxed and overregulated, and elected officials treat them not as honored members of the community but as rapacious pirates…
…Still, you may wonder, why did Nestle really go?
Well, apart from having higher taxes, absurd housing costs and more regulations than nearly any other state, California’s wacky laws have turned the Golden State into a venue of choice for activist groups to file costly class action lawsuits — or to launch anti-corporate PR campaigns against big, wealthy targets like Nestle.
A report released last year by Spectrum Location Solutions, shows that Nestle is just one of 1,680+ companies to leave the state since 2008.