Semiconductor manufacturer Avago Technologies on Thursday agreed to acquire local chip maker Broadcom for $37 billion in cash and stock.

According to a report in the LA Times, part of this deal involves Broadcom moving its headquarters from southern California to Singapore.

This is just the latest departure of a major company from Southern California. For more on why businesses are leaving and what this means for our economic future, we're joined now by Jordan Levine, director of Economic Research for Beacon Economics.