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California dice, Texas - ¡Quédate en casa!
February 20, 2019
In a head to head comparison between Texas and California, California wins!
Sacramento, CA – While the saying in Texas is Go Big which is a shortened version of Go big or go home; California has a message for Texas – Stay Home! Recent reports state that Texas executives and economic developers are in San Francisco this week trying to lure California companies to the Lone Star state. The practice of poaching is an old one and has not rung profitable for many companies that have moved to Texas.
When compared to California, Texas falls short in many of the areas that they claim to win.
Here’s a snapshot:
- In 2018, California landed 168 deals, offered over $500M in incentives which created over 30,000 jobs compared to Texas which landed 62 deals, offered over $200M in incentives which created a little over 20,000 jobs.
- California has 49 Fortune 500 companies compared to Texas with 48 Fortune 500 companies; Of these Fortune 500 companies, California companies are on average 116% more profitable than those in Texas.
- California has an educated workforce/talent base; California boasts more than 8 million (31.5%) people with a bachelor’s degree or higher to Texas with just over 5 million (27.8%).
- Venture funding lives in California; In 2018 venture funding in California hit $41 billion while in Texas venture funding was only $5.6 billion.
- Total job creation continues to increase in California where in 2018 205,922 jobs were added whereas in Texas only 155,028 jobs were added.
These are just a few reasons why California companies should stay in California but all the more reason for companies to move to California.
Para más información, visite greatersacramento.com.
Sobre el Greater Sacramento Consejo Económico
El Greater Sacramento Economic Council es el catalizador de estrategias de crecimiento innovadoras en la Región Capital de California. La organización encabeza la dirección dirigida por la comunidad para retener, atraer, hacer crecer y ampliar nuevas empresas, desarrollar industrias avanzadas y crear puestos de trabajo e inversiones en una región de seis condados. Greater Sacramento representa una colaboración entre gobiernos locales y estatales, líderes del mercado, personas influyentes y partes interesadas, con la única misión de impulsar el crecimiento económico. La región de Sacramento se fundó sobre el descubrimiento, se construyó sobre el liderazgo y se alimentó de la innovación.
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