Another California Firm Leaving for Texas

One by one good, solid businesses are fleeing California.  In this case WESCO, from the Santa Clarita Valley is leaving.  High taxes, high cost of living, gridlock on the freeways, failed government schools an a government raising taxes as fast as possible.

“Chief Executive Todd Renehan said that the new, larger office space in Fort Worth will allow Incora to bring its teams together to increase efficiency, encourage collaboration and support the growth of the business.

“This centrally located site also will offer more accessibility and availability to our customers and colleagues across the U.S. and in Europe,” Renehan said in a statement in the announcement from the governor’s office.

Wesco Aircraft was formerly a publicly traded company that was acquired in January by Beverly Hills-based Platinum Equity in a deal valued at $1.9 billion.

Yes, California investment firms are moving their companies out of State.  By doing so they ADD 13% to the bottom line at NO cost.  That is because we have a corporate income tax and Texas does not.  That 13%, in the first year will pay for the move!  Smart companies leave California.

Former Wesco Aircraft Moves to Texas

By Mark Madler, San Fernando Business Journal,  9/18/20  

Incora, the aerospace parts company formerly known as Wesco Aircraft Holdings, is moving its corporate headquarters from Valencia to Fort Worth, Texas, according to the office of Texas Gov. Greg Abbott.

The company already has two offices in the Texas city and plans to spend $6 million at its new headquarters at 2601 Meacham Blvd.

Chief Executive Todd Renehan said that the new, larger office space in Fort Worth will allow Incora to bring its teams together to increase efficiency, encourage collaboration and support the growth of the business.

“This centrally located site also will offer more accessibility and availability to our customers and colleagues across the U.S. and in Europe,” Renehan said in a statement in the announcement from the governor’s office.

Wesco Aircraft was formerly a publicly traded company that was acquired in January by Beverly Hills-based Platinum Equity in a deal valued at $1.9 billion.

Platinum combined Wesco with Pattonair, a supply chain management services business for the aerospace and defense industries based in the United Kingdom. In April, the companies announced the name change to Incora.

In a statement, Abbott said the state has created a strong economic climate with low taxes, reasonable regulations and a high-caliber workforce, which allows companies like Wesco to innovate and prosper.

“As a thriving aviation and aerospace hub, Fort Worth is the ideal location for Wesco to continue to grow its operations and serve its customers,” Abbott said in the statement.

About Stephen Frank

Stephen Frank is the publisher and editor of California Political News and Views. He speaks all over California and appears as a guest on several radio shows each week. He has also served as a guest host on radio talk shows. He is a fulltime political consultant.

Comments

  1. Rico Lagattuta says

    You forgot to add that one of the reasons companies are leaving California is that the Government has taken to telling employers how to run their companies on a daily basis. California’s attitude towarf priviate entities is “put up the money, give jus the keys, we will run the company and tell you how much you made or lost”.

  2. Richard Wahl says

    We operated our business in Marxifornia and Texas for 14 years. Net profit was almost double in Texas. No more needs to be said.

  3. William Hicks says

    KILLING THE GOOSE THAT LAID THE GOLDEN STATE. Not only are they cutting off the business source of taxes but certainly the employee’s taxes as well.

  4. Otis Needleman says

    Plenty of available, affordable business space and housing for people in Texas. Plenty of electricity. Good roads. Many reservoirs/lakes in the state, saves rain runoff. Lower cost of living overall, quality of life at least as good in TX as in CA.

  5. Mary M Cunningham says

    Let’s pray the new companies in Texas don’t bring their Calif voting style. No place to go if they do.

  6. DON’T BRING YOUR LIBERAL BS TO TEXAS! LEAVE IT IN CLOWNIFORNIA.

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