[quote=EconProf]If true, this will be a very big blow to San Diego’s economy and real estate market, since these people are high-paid and a lot of auxiliary businesses connected to SAIC will leave too.
Much of the blame must fall on the liberal, anti-business atmosphere of CA. Our high state taxes combined with silly regulations will continue to drive out businesses and the middle and upper classes to friendlier states.
SD Realtor: would the hardest hit neighborhoods be around RB, RP, Scripps, etc.?[/quote]
Highest marginal income tax rate in Virginia is 5.75%, thats about half of California’s tax rate. Sales tax is 5% rather than 8.5% here. Property taxes are about the same in percentage terms, but you get A LOT more house for the money. The public schools in the DC suburbs of northern Virginia are very good. Crime is low. Its a much better deal for the people who work at SAIC. Same reason UPS moved from CT to Atlanta Georgia 20 years ago. Its a smart decision for SAIC, maybe will be a slap in the face for California to realize that current policies need to change and change quickly.
