California Falls to 50th in New Business Start-ups

Imagine my surprise (from Flash Report):

As reported by the Los Angeles Times, a new study provides even more bad news for California’s job creation prospects and overall budget picture. According to Economic Modeling Specialists, Inc., California has fallen from first in the nation for new business formations to a dismal rank of 50th.
According to the report’s authors:

California’s economic woes and instability have been well-documented, and this data makes another case for how bad things have gotten there. California had the most net new business establishments in 2009 (more than 12,500) and 2008 (32,000-plus); in fact, it ranked either first or second from 2001 to 2009. But the Golden State sank all the way to 50th in 2010 with more than 4,600 fewer new establishments than the previous year.

Could it be that California’s business climate has become so hostile that entrepreneurs now feel they must leave the state in order to successfully launch a new business endeavor? This news should be a wake-up call to Governor Brown and the Legislature. Clearly, we have a lot of work to do.

This won't even phase the governor or legislature. This is exactly what they've created with their tax schemes and over-regulation, and even though the numbers prove their failure they'll never believe they caused it.

Heck, things are so bad in California even our earthquakes are relocating to Colorado and Virginia.