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alifornia's allure is waning, according to Don Peebles, founder of The Peebles Corporation. He attributes this decline to the state's challenging business environment and lack of government support for projects like his $1.6 billion development in downtown LA. "We were trying to build a massive project during the COVID crisis, but we got no help from the government," he stated bluntly.

    Peebles blames California's policies for hurting businesses, pointing to the growing exodus of residents. "People are fleeing, they've given up, and they're moving elsewhere," he said. The state's quality of life has diminished, leading to a predicted increase in out-migration.

    The pandemic accelerated talk of a California exodus, which hasn't slowed down. According to U.S. Census Bureau data, 690,127 people left the state for another in 2023, following an even larger outflow of 817,669 residents the year before. Texas was the top destination, with 93,970 Californians relocating there in 2023. Arizona and Florida also attracted significant numbers, with 54,222 and 39,052 former Californians moving to these states, respectively.

    Theories abound about why so many Californians are leaving, but high taxes and a sky-high cost of living are often cited as major factors. Texas and Florida's lack of state income tax is particularly appealing to those looking to escape California's financial burdens.