Commentary
How embarrassing. California has dropped to third place in the 2022 list of Fortune 500 company headquarters by state. The top is now Texas, followed by New York. Yet Texas’ population of 28.6 million, per the 2020 U.S. Census, is 73 percent of California’s—and New York’s 19.5 million is half of it.
The totals now: Texas has 53 HQs, New York 51, and California 50. New York maintains the advantage of New York City still being the world center for finance. And California long has had Silicon Valley. But Texas has only a welcoming business climate, with low taxes and regulations, beginning with a 0 percent state income tax rate….
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