Wages, Riches & Pitchforks
With great pride, leaders in the American South have promoted the region to industry in many ways. Over the last 100 years, the South’s most often used sales pitch to business and industry is the fact that it costs less to operate a business in the South than the other three U.S. regions — the West, the Midwest and the Northeast. To be the low-cost leader in the largest economy in the world is a great advantage when it comes to job generation, and is certainly a major factor behind the South’s population surging past the Midwest and the Northeast’s populations combined.
Sixty years ago, each of the three regions had about the same population. But the decades-long migration to the South has had an effect. Last year, more than 1.4 million people migrated to the South, and most of those were from the Midwest and Northeast.
California is also a source of new Southerners, particularly new Texans. Toyota, the world’s top selling automaker, is in the process of moving its 4,000-employee North American headquarters from California to Plano, Texas. Once settled, the company will enjoy a number of cost advantages there compared to California. In fact, according to Toyota execs, housing…Read More