CAMARILLO, Calif. – The Economic Development Collaborative has released a report in partnership with Xopolis: Urban Analytics that studies business migration in Ventura, Santa Barbara and San Luis Obispo Counties. The data challenges the commonly held understanding of “business exodus” from California.
“One of the most common complaints we hear about the “business climate” of California is that the cost and challenge of taxation and regulation drive business out of the state and our region.” said Bruce Stenslie, President and CEO of Economic Development Collaborative. “The findings of this study demonstrate that the narrative around the business exodus story needs to change and be replaced by one that is more informed by data.”
EDC purchased and analyzed two independent data sets, to assure a sound foundation for conducting the analysis:
- From Dun & Bradstreet, the National Establishment Time Series, or NETS. The data is current to 2015, though is inclusive back to 1990.
- From Business Dynamics Research Consortium (BDRC), at the University of Wisconsin, Your-economy Time Series, or YTS. The YTS data starts in 1998 and is current to 2018.
The study concludes that since 1998 the tri-county region has gained on net from business migration and that the net economic value of the businesses that arrive exceeds the value of the firms that leave. EDC will continue to mine the data to identify the sources for business migration into the region and work strategically to capture and nurture the share of business inflows. “There is much more to be learned from the data.” said Stenslie.
The report can be downloaded at: https://edcollaborative.com/wp-content/uploads/2019/06/Business-Migration-Report.pdf
For more information about EDC programs and services, visit edcollaborative.com or call 805-384-1800.
EDC is a private, nonprofit organization that serves as a business-to-government liaison to assist businesses in Ventura, Santa Barbara and Los Angeles counties by offering programs that enhance the economic vitality of the region. For more information about the Small Business Development Center, loan programs, manufacturing outreach and international trade programs, or other services available to small businesses through EDC, contact Bruce Stenslie at 805-409-9155 or [email protected]. Or visit www.edcollaborative.com.
The Economic Development Collaborative
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