California Governor EXPLODES After Apple Announces MASSIVE Exit! | Elizabeth Davis

Описание: In the most devastating blow yet to California's innovation economy, Apple Inc. announced plans to relocate its corporate headquarters from Cupertino to Austin, Texas over the next seven years—ending nearly five decades of California-based leadership. The move affects 36,000 employees and eliminates $8.7 billion in annual economic activity from the state that created Silicon Valley.
The company founded in a Los Altos garage by Steve Jobs and Steve Wozniak is abandoning California for three converging reasons: California's 11.3% tax rate versus Texas's 0% corporate income tax saves Apple $2.1 billion annually. Commercial property costs of $1,340 per square foot in Santa Clara County versus $420 in Austin reduce expenses by $890 million yearly. And Texas's $750 million incentive package dwarfed California's $140 million counteroffer.
This came just 24 months after Apple opened Apple Park's Phase II—a $1.2 billion expansion. Governor Newsom called it "an unthinkable betrayal of California and everything Silicon Valley represents." But the economics are brutal: the tax savings alone justify relocation.
When the company most synonymous with California innovation—the creator of the iPhone, the symbol of Silicon Valley's dominance—concludes the state is too expensive for its future, what does that mean for California's technology economy? Apple isn't just leaving. It's taking Silicon Valley's identity with it.