Will Chevron, Twitter or Wells Fargo be next to move its headquarters out of California? Here are some that recently left - San Francisco Business Times

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“I certainly wouldn’t be surprised to eventually see all three move their headquarters out of California,” said John Boyd, a site selection consultant.

Adding to the speculation, Wells Fargo told me last week that. Most are based in New York, where CEO Charlie Scharf sits. A handful of senior leaders are based in Charlotte, the bank’s largest employment center. The bank says its headquarters, if not its top executives, will remain in San Francisco.

But apparently there’s no room for sentimentality. Even Levi Strauss, with California roots going back to the days gold miners needed sturdy pants, sent the Bay Area into a tizzy during the pandemic on word it too might take its headquarters out of San Francisco.said at a San Francisco Business Times event last February.

When it comes to the exodus, a few troubling signs are beginning to emerge — troubling for Texas and other states that have long viewed the Bay Area as a land of easy pickings. At least that’s Boyd’s take. He pointed to California Gov. Gavin Newsom opposing Prop. 30, which would raise the state’s top tax rate on personal income to more than 15%. Voters will decide on the measure in November.There could be more good news for the Bay Area tackling challenges spurring corporate departures.

“One thing that I know for certain is we have work to do — work like we’ve never had before,” Breed said, calling for making sure San Francisco is clean and safe, improving transit, and filling downtown vacancies, among other steps.

 

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