Virginia, Utah Mount Joint Raid On Calif Jobs
By MICHAEL R. BLOOD
LOS ANGELES (AP) â¿¿ California sends tomorrow's technology, Hollywood blockbusters and terrific pinot noir to the world. Now, the governors of Utah and Virginia want the Golden State to export more of something else: jobs.
To make that pitch to California businesses, Utah's Gary Herbert and Virginia's Bob McDonnell, both Republicans, have scheduled joint stops beginning Thursday in Orange County, Silicon Valley and San Francisco.
They intend to position their states as antidotes to California's high taxes, notorious red tape and rollercoaster state finances.In other words, they want job-rich companies to say goodbye Santa Monica and Palo Alto, hello Provo and Arlington. Gov. Jerry Brown, a Democrat, won't be around when the governors descend on his state. He's on a previously planned trade mission to China. The visiting governors say Brown shouldn't be surprised or offended by their trip because competition among states for jobs is so fierce. "There are people coming to Virginia all the time looking for jobs, too," McDonnell said in an interview. "States competing with each other is a healthy thing." Governors across the country routinely entice businesses to move or expand into their states. Earlier this year, Texas Gov. Rick Perry spent several days in California trying to lure away companies. But it's unusual for governors from states with different economic profiles and statehouses 2,100 miles apart to tag-team another state. Not coincidentally, the visits come a few months after Utah and Virginia were ranked No. 1 and No. 2, respectively, in Forbes magazine's annual list of the best states for conducting business. It also follows a period in which California â¿¿ by itself the world's ninth largest economy â¿¿ lost luster. The 9.6 percent unemployment rate remains among the nation's worst, vestiges of the housing crash linger, and its credit rating is one of the shakiest among states. Stockton, with a population of nearly 300,000, recently became the largest city in the country to file for bankruptcy protection.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV