Sell for More Trivia is a weekly blog series that playfully presents a trivia question about commercial real estate.
What is a “Right to Work” state? The term is related to forced membership in a labor union.
More than half of U.S. states have enacted so-called “right to work” laws that guarantee no person can be compelled to join a union or pay union dues, as a condition of employment. Further, right to work laws can prohibit contracts that require the hiring of unionized workers only. The idea behind the right to work principle is that every individual has the right to join a labor union, but must not be compelled to do so.
Why do we care? Because the job creators care…and jobs equal growth…and the commercial real estate markets that are growing are the markets you can expect investors to target. With growth properties appreciate in value…without growth the opposite is often true.
So, expect the Right to Work states to receive the majority of the jobs created in the near future.
Here are the 27 Right to Work states:
- Alabama
- Arizona
- Arkansas
- Florida
- Georgia
- Idaho
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Michigan
- Mississippi
- Nebraska
- Nevada
- North Carolina
- North Dakota
- Oklahoma
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Virginia
- West Virginia
- Wisconsin
- Wyoming
Summary
Notice that this is already happening. The states that are experiencing mass exoduses right now (Illinois, New York, California, New Jersey) are not on the list.
It’s never been easier for companies to relocate…expect to see more jobs moving to lower tax, right to work states in the 2020’s.
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About Beau Beach, MBA CCIM
Beau is a tenacious Commercial Real Estate Broker, author and adoring father of four. His clients appreciate his no-nonsense demeanor and his legendary work ethic.
Beau leads Beachwood which is a commercial real estate broker for sellers in the Nashville, Milwaukee and South Florida markets.
He’s the author of the books The 3 Reasons: Why Most Commercial Properties Don’t Sell and True Wealth: What Every Seller Should Know About 1031 Exchanges.
Beau can be reached at 800-721-3287, click to schedule a call or Beau@soldbybeachwood.com