Nevada goes bear hunting in the Golden State
Just how much is California business worth to the state of Nevada? Enough to invest a cool $1.5 million in "Wanted" posters aimed at luring businesses to leave the Golden State and head east, Evan Halper reports.
The ads crow that Nevada, long a haven for businesses seeking refuge from taxes, has no corporate income tax, no personal income tax and no inventory tax -- plus, it has lower workers' compensation rates and a pro-business attitude.
Nevada state leaders are all but salivating as they cite California's high taxes and spiraling deficit as reasons for businesses to defect. No sales tax in the Silver State, no onerous regulations. And after all, what's a bit of poaching between neighbors?
Local officials are not amused.
“Businesses are here because they appreciate the powers of this economy,” said Sen. Mark Ridley-Thomas (D-Los Angeles), who is among the Democrats arguing for a tax hike. “I suspect Nevada wishes it could be ranked as among one of the top economies in the world.”
Will The Governator strike back?
-- Veronique de Turenne