California Business Climate:
NextCloud Headquarters Moves to Connecticut

California suffered another business climate setback as NextCloud, a Sacramento cloud-computing company, announced that is has moved its headquarters from California to Wallingford, Connecticut. The Nutmeg State reportedly offered a $1.2 million incentive for the firm to move.

Doreen DeSarro, Wallingford's business recruiter, noted that NextCloud Chief Executive Officer Jonathan Reeves has founded several high-tech companies. "We're really excited about this because his companies are very state-of-the-art and bring high-paying jobs with them," the recruiter said.

The maximum personal income tax rate in Connecticut is 6.7 percent. (Sources: Sacramento Business Journal, May 18; New Haven Register, May 8.)

May 25, 2012
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