***FOR IMMEDIATE RELEASE***
Sunnyvale, CA - Yesterday's announcement by Toyota that the automaker will be relocating its Torrance headquarters to Texas is yet another blow to the fragile economy in our state. This move will cost California thousands of jobs and millions of dollars in tax revenue. Now more than ever, our legislature needs to act to lure business back to the Golden State.
State Senate candidate Peter Kuo commented on the news:
Our economy needs to be top priority in California right now. Yesterday's news highlights why the legislature's priorities are grossly misplaced. I'm sad to see businesses continue to flee our state. This is why we need to create enterprise zones to end the exodus of jobs and work together to make California an enterprise state.
California's unemployment rate is still above 8% and ranks 48th nationally in employment. Despite the difficult economic climate Peter Kuo has created jobs in California and has started several small businesses. He is running for State Senate to be a voice of reform in Sacramento. We need legislators like Peter who have "real world" business experience.
Peter Kuo is a first time candidate running in California State Senate District 10. Peter is a small business owner, job creator, husband and father of three. A Taiwanese immigrant, Kuo has lived the American dream and is running so others will have the same opportunities he has had.