California Exodus: State Lost $29B as Over 800K Residents Relocated in 2021-2022, With Texas Top Destination
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California lost $29 billion in taxable income to residents moving to other states, especially Texas, Nevada, Florida, and Arizona
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Over 800,000 people left California for other states in both 2021 and 2022, more than pre-pandemic years
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Typical destination states were Texas, Arizona, Florida, Washington and Nevada, but Idaho saw the biggest spike in Californians moving there
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30,200 more people with advanced degrees left California than moved there in 2021, a reversal from pre-pandemic trends
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Major California companies like Tesla, Oracle, and Hewlett Packard Enterprise opened new headquarters in Texas recently, but the "brain drain" slowed in 2022