January 1, Storage Giant Flees California for Texas

Wyatt’s Take

• Public Storage ditching Glendale, California, for Frisco, Texas.
• New CEO Joe Russell starts April 1 with PS4.0 overhaul.
• Follows Tesla, Oracle, Chevron exodus from high-tax California.

Public Storage started in San Diego County back in 1972. Now it runs over 3,000 self-storage spots in 43 states.

The company announced it’s moving headquarters from Glendale to Frisco, Texas.

This ties into a CEO switch and fresh strategy called PS4.0.

“In addition, Public Storage will relocate its corporate headquarters to North Dallas (Frisco), Texas, benefiting from the depth of talent and innovation in that market, while maintaining a long-term presence in Glendale, California,” their press release states.

“Together, this leadership and talent platform positions Public Storage to execute PS4.0 and deliver sustained growth and long-term shareholder value.”

Others like McKesson, Charles Schwab, Oracle, Tesla, Hewlett Packard Enterprise, Chevron, Realtor.com fled too. In-N-Out even picked Tennessee.

They blame sky-high taxes, red tape, costs, and crime. California Governor Gavin Newsom denies any big business flight.

Folks, red states like Texas draw jobs and growth while blue ones chase them away. Share your take below—is your state next?

Full story here

Wyatt Matters

Heartland workers see companies chase freedom, low taxes, and real opportunity away from overregulated coasts.