Blue states believe their abortion policies can bring companies back
Amidst predictions of a political “red wave” in the upcoming mid-term elections, an economic wave has been building for years with no end in sight as companies flood out of blue states and into red states.
And as a result of its political divisions, America appears to now be dividing itself into prosperous, high-growth states and states that are suffering a chronic decline. But Democrat-run states believe their abortion policies could be a key factor in attracting companies back.
Caterpillar and Citadel, which in June announced their exit out of Illinois, are only the latest firms to leave high-tax, high-regulation states. Tesla, Hewlett Packard, Oracle, and Remington are also among the hundreds of companies flocking out of California, Illinois, New York, and New Jersey to business-friendly places like Texas, Florida, Arizona, and Tennessee. Relocating companies have spanned industries including tech, finance, media, heavy manufacturing, autos, and firearms.
“There is a great migration going on, and I expect it to accelerate,” Glen Hamer, president of the Texas Association of Business, told The Epoch Times. “When the Caterpillars and the Elon Musks relocate, it’s an advertisement to the entire country and the entire world that something positive is going on in that state. And there is a multiplier effect.”
According to a 2022 survey of 700 CEOs, the top states for business were Texas, Florida, Tennessee, Arizona, and North Carolina. The worst were California, New York, Illinois, New Jersey, and Washington.
Even companies like Apple, which did not move its headquarters to Texas, chose to establish its second-largest campus for employees there. Amazon selected Houston as one of its prime hubs. Ford, Volkswagen, and Nissan chose Tennessee as the location for major new manufacturing facilities. And in some cases, entire industries like firearms, which are being targeted by legislation and lawsuits in blue states, are moving south.
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