Nissan Awakes from California Dreaming

According to a recent study released by the Public Policy Institute of California, the flight of businesses from the state due to a hostile business climate is "mostly myth."

Maybe so. But Nissan Motor Co. is feeling the Cali sting and is hitting the road eastbound to Music City.

"The costs of doing business in southern California are much higher than the costs of doing business in Tennessee," Nissan CEO Carlos Ghosn Thursday at the Tennessee Capitol in Nashville. "That difference is taken into account amid the realities of the fiercely competitive environment in the global automotive industry."

Real-estate costs and business taxes are lower in the Volunteer State than the Golden State, Ghosn said. Overall, Nissan said the cost of living in Tennessee was about 20 percent lower than in southern California.

Chalk one up for Nashville.

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Real estate prices probably

Real estate prices probably have more to do with it than anything else. And that's a product of the fact that a whole lot more people want to live in California than Tennessee.