How California Bills Itself to Investors
CALIFORNIA ECONOMY BY THE NUMBERS
As of October 2013, California is the Number Two job-creating state with 223,900 new jobs added during the last year and 826,500 new jobs created since the recovery began in February 2010.
2. LONGEST STREAK OF PRIVATE SECTOR GROWTH
California employers have added jobs for 26 straight months, the longest streak in the nation.
3. RISING EMPLOYMENT
The number of employed Californians grew by 3.3 percent in the last 12 months — the largest year-over-year employment gain since 1990.
4. TOP 5 GDP GROWTH
In terms of GDP, California’s growth rate was 3.5 percent in 2012 – fifth best in the nation.
5. MULTIPLE NATION-LEADING SECTORS
California is first in high tech, biotech, agriculture, entertainment, manufacturing, tourism and more.
After ten plus years of manufacturing job losses, California posted its first back-to-back years of manufacturing job gains in 2011 & 2012.
7. RECORD EXPORTS
California merchandise exports grew to $161.7 billion last year — a record high. While other governors have talked big on their visits to California, what they’ve really done is add to our Number One tourism sector, which boasted over 200 million visitors in 2012 with direct travel spending of more than $106 billion.
8. BALANCED BUDGETS IMPROVE THE STATE’S CREDIT RATING
In 2013, Gov. Jerry Brown not only signed his third consecutive balanced budget but one that included a more than $1 billion surplus. In March, Fitch, a ratings service, changed the state’s outlook from “stable” to “positive.” In June, Moody’s upgraded their rating for California’s Economic Recovery Bonds. And Standard & Poor’s raised California’s credit rating in January for the first time since 2006.
9. INCREASING FOREIGN INVESTMENT
In April, Gov. Brown led a trade mission to China where he announced over $1.8 billion in deals and opened a California foreign trade office in Shanghai.
10. NEW BUSINESS INCENTIVES
The governor’s Economic Development Initiative brought together business leaders, labor interests and legislators to help create a more flexible, more competitive set of economic development tools for California. Among them: a sales tax exemption for manufacturing, biotech and R&D equipment; a hiring credit, and the CA Competes Tax Credit designed to incentive companies to locate or expand in CA.
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