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CALED In Action Assets… Researched by Amanda Schultze California Assets is a series of fact
sheets compiled by the California Association for Local Economic Development
(CALED) to highlight California’s strengths. We have all heard the negative reports
about California’s business climate, cost of living, workers compensation
issues, and other concerns. It’s about time that we start spreading
the good news!
These facts come from a variety of
sources, and we are always looking for more. If you have other assets
to share, contact Gurbax Sahota, DChief Operating Officer for CALED &
Executive Director of the CA Academy For Economic Development at gsahota@caled.org CALIFORNIA IS: CALIFORNIA IS Proof that Strong Bi-partisan Leadership and Fiscal Reform can Substantially Reinvigorate the Business Climate. Californians passed Propositions 57 and 58, ballot measures proposed
by Governor Schwarzenegger, limiting State spending and refinancing
the State’s debt burden. Our California State government adopted a balanced budget with no
tax increases, moving the State’s finances toward a structural balance. California’s Governor and legislature reformed employer litigation. The State of California is placing major new emphasis and committing
new resources to develop clean and reliable power. The Governor established the California Commission for Job and Economic Growth to let the world know that “California Wants Your Business” and will continually address obstacles to job creation and new investment.1 CALIFORNIA IS Filled with Quantifiable Reasons Why Businesses Should Consider Us as a Prime Location. California generates more new businesses and creates more new jobs
than any other state in the Union and more than almost any country in
the world. California’s workers are 15% more productive than the national average.2 California is a major center for the design of autos, furniture, and
home furnishing. Creativity and California are almost synonymous.3 California benefits greatly from having 7 out of the top 10 design
firms in the country.3 California is home to 58 of Inc. Magazine’s top 500 Fastest-Growing
Companies. California is the Gateway to the Pacific Rim. When it comes to a positive business climate, California has 3 of Inc.
Magazine’s 25 Most Successful Large Metropolitan Areas (Riverside-San
Bernardino, San Diego, and Orange County) When doing business in America, California has 5 of Inc. Magazine’s 25 Best Medium-Sized Cities (Fresno-Bakersfield, Vallejo-Fairfield, Napa, Modesto, and Stockton) CALIFORNIA IS Experiencing Solid Growth in Business In the next 10 years, California anticipates having 3 million more jobs, California has the country’s 5th largest per capita annual income. In 2003, personal income growth was the 9th highest in the country. “California is projected to create more high tech
jobs by 2010…more than any other state”-Business Facilities Magazine.6
California’s teachers are the best paid in the nation,
with a 2003 average salary of $54,348. California’s economy is great for business creation,
with 10.6% of the state’s employment in companies with less than 10
employees.8 California’s unemployment rate fell to a three-year-low of 5.5 percent in 2003.7 CALIFORNIA IS the Country’s Educational Leader, California ranks first in the country
for the number of people with Bachelor degrees and second for Masters
degrees.6 California has over 2.5 million
students enrolled in its 250 colleges and universities.
California boasts the highest concentration
of engineers, scientists, mathematicians, and skilled technicians in
the nation.9 California is home to 6 of the top
20 engineering schools.10 CALIFORNIA IS Still the Sixth Largest Economy in the World and a Manufacturing Force. California’s $1.4 trillion Gross
State Product is larger than the combined GSP of Arizona, Nevada, New
Mexico, Oklahoma, Oregon, and Texas. California creates 14% of the Gross
Domestic Product for the entire country. California is the top target for
site selection data requests. California has the 1st and 3rd largest
apparel clusters in the nation. In January 2005 alone, California
businesses created 3,200 new manufacturing jobs. Every year, California welcomes
318 million domestic and 8 million international visitors. California, one of the most geographically
and culturally diverse destinations in the world, has
California’s climate is a lure for
people from around the world. California attracts national and
international tourists who generate more than $75 billion a year in
travel spending that goes directly into the state’s economy.12 California’s tourism industry creates
jobs for more than 1 million Californians and generates $5 billion in
direct state and local tax revenue every year.12 CALIFORNIA IS the Center of State-of-the-Art Transportation. California’s extensive transportation–our
air, rail, highways, and ports–are among the best in the world. California’s roadways carry more
truck freight than any other state, over 1.324 billion tons per year. California has 3 out of the top
12 air cargo airports in the U.S. with a combined tonnage of more than
3 million tons per year. California has the second largest
cargo airport in the world (LAX). California has over 1,800 miles
of rail commuter service. California continues to be an innovator
in subway and light rail operation. California has 17 foreign trade zones and 39 enterprise zones.13 CALIFORNIA IS the Nation’s Second Biggest Exporting State. California leads the nation in direct
foreign investment. Fifteen percent of California’s
economic output comes from international trade, with computers, communications
equipment and agriculture leading the way. In the first nine months of 2004,
California’s exports were up by 20%, reaching $91.3 billion.14 CALIFORNIA IS The Center of High Tech Growth. California continues to be a leader
in “intellectual highways.” California is ranked #2 in the U.S.
for its ability to develop economy through nanotechnology.15 California has 1/6 of all U.S. high-tech
workers, with nearly one million people in this industry, more than
any other state!9 California provides above average
wages in high tech industries.9 California has had a 250% growth
in computer programming, data processing, and other computer services
jobs.9 Four of California’s largest communities
are listed in the top 15 High-Tech Metro Areas by Greatest Phoenix Blue
Chip (San Jose #1, Los Angeles-Long Beach #2, Orange County #11, and
Oakland #14).4 California is projected to create
even more high tech jobs by 2010, more than any other State!4 California has 10 of the country’s
top 20 software companies. 16 California has 5 of the country’s top 10 hardware manufacturers.16 CALIFORNIA IS the Undisputed Biotech Leader with Major Clusters in both Northern and Southern California. California employs 43% of nation’s
biotechnology employees.6 California is headquarters to 1/3
of the country’s biotech companies (over 2,500 in all) including Amgen
and Genentech.6 California is the Number One “hotspot”
for nanotechnology firms, scoring 50% higher than its next closest competitor,
Massachusetts.15 California boasts the highest number of nanotech patents, now over 200.15 CALIFORNIA IS the Home of Military Innovation and Production. California dominates the production
of aircraft, missiles, radar equipment, missile guidance, and navigational
equipment. California has ranked #1 for new
branches and start-ups in aviation and aerospace. Southern California alone has over
1,000 aerospace companies that employ over 170,000 workers, 20% of the
nation’s total. 17 CALIFORNIA IS and the Nexus of the Entertainment Industry. California continues to be the premier
location for motion picture and television production. California’s motion picture/TV production
industries employ over 270,000 people and generate receipts of $31 billion.18 California is home to Electronic Arts, the world’s leading independent developer and publisher of interactive entertainment software. CALIFORNIA IS the World’s Agricultural Leader. California ranked #1 for establishing
new branches in agribusiness/goods and is ranked #2 in the country for
start-ups.17 California is among the world’s
largest producers of 350 crops and commodities. California’s farm output value climbed
more than $1 billion in 2003. California is home to the nation’s
largest food-processing employer providing 182,800 jobs. California is the leading dairy
producer in the United States. The retail value of the California’s wine shipments recently topped $14.3 billion – 67% of the market – two out of every three bottles of wine sold in the United States come from California. 19 CALIFORNIA IS at the Top of the List for Quality of Life. California received the #1 spot
in the results of a Harris Interactive Poll asking about the Top 10
most desirable states to live.20 Three out of four (73%) Californians
say they would not want to move out of the state to live in another
place.20 California is one of only two states
to have more people covered for health insurance in 2003 than in 2002.5 California ranks #4 for the most
affordable health insurance costs.21 The life expectancy in California
is nearly two years longer than the national average. In California, we live longer to enjoy all that we have…and it’s getting better all the time!!
2 Federal Reserve Bank of San Francisco,
November 2002 Report. 3 Engineering News Record, http://www/enr.com. 4 Milken Institute, “Best Performing
Cities: Where America’s Jobs are Created and Sustained,” 2004 5 The Sacramento Bee, “California
By Numbers: The State is Looking Better,” 2004. 6 Business Facilities Magazine: The
Location Advisor, 2004. 7 San Francisco Chronicle, http://www.sfgate.com,
2004. 8 Small Business Administration,
Office of Advocacy, 2004. 9 Employment Development Department,
California Business Advantages, http://www.edd.ca.gov, 2005. 10 US News, http://www.usnews.com,
2004. 11 Travel Industry Association of
America, 12th edition, 2003. 12 California Travel and Tourism
Commission, http://www.visitcalifornia.com. 13 Road Information Program, http://www.tripnet.org,
2003. 14 World Institute for Strategic
Economic Research, 2004. 15 Lux Research, “State Nanotechnology
Investments Determine Jobs and Economic Uplift,” 2004. 16 Reuters, Latest Business News
and Financial Information, http://www.reuters.com, 2004. 17 Biz Miner, http://www.bxjonline.com,
2003. 18 Los Angeles County Economic Development
Corporation, http://www.laedc.org. 19 The Wine Institute, http://www.california-wine.org,
2003. 20 Harris Interactive, The Harris
Poll, http://www.harrisinteractive.com, 2003. 21Penton Media, Health Care Cost Quotient, http://www.penton.com, 2005 |
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