In response reportedly to increasing inquiries from California companies struggling with the high cost of doing business in California, Nevada economic development officials have launched a marketing campaign in the Golden State touting the benefits of doing business in Nevada.
Nevada economic development leaders took to street corners in three major cities throughout California this week, including Los Angeles, Sacramento and San Francisco to unveil the bold advertising
campaign “Will Your Business Be Terminated?” featuring visual depictions symbolizing California business owners struggling with the nation’s highest workers’ compensation rates, pricey utilities and the nation’s only paid family leave program.
Two of the cities, Los Angeles and San Francisco, feature giant wallscapes of the advertising campaign with the tagline “Nevada
to the Rescue.” The campaign is a follow up to the “Worse-Case Scenario” ad campaign Nevada ran in California last year.
“The campaign addresses the ongoing concerns that California companies still have about the state’s business uncertainty and that recent reforms, such as workers’ compensation, aren’t having a fast enough impact on their bottom line,” said Bob Shriver, executive director of the Nevada Commission on Economic Development. “We’ve seen a 50 percent increase in inquiries from California employers looking to relocate their business to Nevada in order to take advantage of our business-friendly climate.”
In 2003-04, 38 California companies reportedly relocated or expanded operations in Nevada resulting in approximately 1,500 jobs, including research and development, manufacturing and corporate headquarters.
According to the Bureau of Labor statistics, Nevada is the only state that gained manufacturing jobs from 2000 to 2003 with a 2.1 percent increase in jobs.
Nevada boasts no corporate income tax, no personal income tax and no inventory taxes. Workers’ comp rates are approximately 30 to 60 percent lower in Nevada and utility rates range from 28 to 36 percent lower than some areas of California.
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