Nevada is going after California business in creative way

With all of California government's financial problems, Nevada economic development officials think this is a good time to lure Golden State businesses across the border. They are spending $1 million on an advertising campaign that warns California businesses that they will lose if they don't move to a more business-friendly state.

One ad says, "If the Legislature doesn't stop monkeying around, you can kiss your assets goodbye." It features a monkey making spitting sounds at the camera, with bananas falling from the sky, according to the Los Angeles Times.

The Nevada effort points out that the Silver State doesn't have corporate or personal income taxes and no inventory tax. The campaign also says Nevada's workers compensation costs are much lower than in California.

The neighboring states have fought for each other's business for years. In 2004, California Gov. Arnold Schwarzenegger made a much-publicized visit to Las Vegas and drove an 18-wheeler down the strip. The truck was plastered with signs that encouraged Nevadans to move their businesses to California.

Now Nevada is trying to take advantage of California's budget problems. The state is paying its bills to vendors with IOUs, a practice that Controller John Chiang said will continue until Sept. 4. That makes this an opportune time for Nevada to go after California businesses, which have been frustrated by high taxes and state regulations.

But there's another reason Nevada is getting agressive right now. The state is reeling from the economic downturn and it needs an influx of new capital to get its economy turned around. The once booming state is seeing residents leaving because they can't find jobs.