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Tesla moving corporate out of California. Plant to stay. For now.

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Tesla is moving their corporate offices to Austin Texas. Their plants in California and Nevada will grow if all things work out. Let’s see if their loon governors intervene and add more taxes. This from NBC.

California levies some of the highest personal income taxes in the country on its wealthy residents, but Texas has no personal income tax.

Tesla is not the first company to its headquarters out of California to Texas. Oracle and Hewlett Packard are among the tech giants who decided to make that move last year, for example.

Musk said Thursday that Tesla is making great progress on the Austin-area factory, which the company has dubbed Giga Texas. The first vehicles are expected to roll out of the facility as early as this year, and the facility could bring more than 10,000 new jobs to Central Texas through 2022.

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