Major Folsom Employeer Leaving | Folsom Home Price Impacts
From the Sacramento Bee:
Waste Connections, Inc., the Folsom trash-hauling company, said today it's moving its headquarters to The Woodlands, Texas.
The company, one of the fastest-growing public companies in the Sacramento area, has been threatening for months to move, saying it was unhappy with the business climate in California.
"Our expanding geographic reach and expected continuing growth required us to make an objective assessment of the appropriate location for our corporate headquarters. The Woodlands offers our employees an attractive, lower cost, and more centrally located community well serviced by two major airports," said Ronald J. Mittelstaedt, chairman and chief executive, in a press release.
Waste Connections expects to spend $15 million on the move next year. It could take a loss on its office lease in Folsom.
While employing less than 250 people in the Folsom area anytime a major employer leaves it is not favorable for Folsom Real Estate. Folsom already has excess commercial space and this will add to the inventory. We will see if this has an impact on the pricing and inventory of Folsom homes for sale.
In a 2011 CNBC study of the top states for business California ranks a dismal 32 out of 50 states. With the proposals for increased taxes to solve our budget woes we are likely to see our rank decline. Not great news for Folsom house prices!
