Comment by ryandrake

For sure there would be a disincentive to "invest" in the area where you might lose the investment. That would be intentional. As a voter, I specifically don't want companies to be making those kinds of "investments" in my region. Go "invest" your dirty industry in China. If California's reputation for harshly regulating these things prevents these kinds of businesses from opening here in the first place, I consider that Working As Intended. We could make that reputation even stronger by not grandfathering things.