The two biggest employers in Torrance, which has a population of 147,000 according to city figures, are Toyota and Honda. Both have about 4,000 employees. Losing Toyota will mean an annual loss of $1.2 million in tax revenue, Scotto said, but the emotional toll and wider economic impact will be much bigger, he said.Pondering it over the last few days, I started to think about what must have gone into that corporate decision. Relocation costs, loss of productivity during the move, environmental clean up costs on the deserted site and, most of all, not knowing which employees would move with them.
Toyota was willing not just to spend money, but disrupt their sales headquarters workforce, assuming a significant number of people quit either through resignations or early retirements.
The business climate in LA must be pretty awful for that to look attractive.