The San Francisco Bay Area is an economic powerhouse. The region’s innovation industries, from high tech to biotech, helped lead California out of the Great Recession. We are near full employment in some areas, and are responsible for 53.5 percent of the state’s net job growth since 2007. And while we are home to just 17 percent of the state’s population, we pay 36 percent of total state personal income taxes at a level per capital more than double the statewide average.
By U.S. state, the largest expenditures, $48.9 billion, were for U.S. businesses in California. The four largest U.S. states in terms of expenditures by foreign direct investors—California, New Jersey, New York, and Texas—together received over half of all new investment. These four states accounted for 35 percent of private industry GDP in the United States in 2014.
In order to ensure the Bay Area’s economic vitality and resilience despite increasing boom and bust cycles, public and private sector leaders must come together around pragmatic solutions to persistent issues and barriers to success. The purpose of the Regional Economic Strategy Roadmap is to offer concrete actions for growing regional prosperity and a flexible framework for developing actions going forward. Its proposals are evergreen agents of economic resilience, strategies wise in both expansion and downtown, necessary to accelerate the former and dampen the latter. It is a recipe for a robust and enduring regional economy.
According to CB Insights data, companies typically close within 20 months of their most recent rounds of financing, with 70 percent dying before raising $5 million. The majority, 55 percent, die before raising $1 million. The explanations for failure are tough to quantify — but the reasons that founders provide publicly serve as a window into common issues in the ecosystem.
It’s a shame these programs operate so haphazardly because $5.6 billion, if spent effectively, could be a major factor in bolstering California’s middle class, which is shrinking rapidly, making us a two-tier society with the nation’s highest poverty rate.
The decline has been, if anything, more rapid in 59th place Los Angeles. This process began with the loss of more than 90,000 aerospace jobs since the end of the Cold War. Los Angeles’ industrial job count stands at 363,900 — still the largest in the nations but down sharply from 900,000 just a decade ago.
The goal of the Fresno-based AgPlus Consortium, according to their application to participate in the initiative, is “to advance the region’s agriculture-related manufacturing economy, targeting industries in the food and beverage manufacturing sector whereby raw agricultural goods are transformed into value-added products by core manufacturing activities.”
In this report, we present a number of suggestions for practical reform to patent policy consistent with the original public meaning of the Patent Clause, which will foster more innovation, entrepreneurship, and economic growth.
The DOF projects that the the state will grow from 37.3 million residents in 2010 to 51.7 million in 2060. This is a 0.7 percent annual growth rate over the next 50 years. By contrast, California’s growth rate was 1.7 percent annually over the last 50 years (1960-2010), and a much higher 3.0 percent in the growth heyday of 1940 to 1990. However, even with this slower rate, California is expected to grow slightly more quickly than the nation (0.6 percent annually).
Kish Rajan has stepped down as director of the Governor’s Office of Business and Economic Development, the agency said Thursday. He’s taking a job as president of the Southern California Leadership Council, a nonprofit focused on economic policy issues.
The number of private sector jobs in the Los Angeles area has remained relatively flat over the past quarter century, while employment in the San Francisco Bay Area has boomed, a report by a business group shows.
Stephen Gordon was mad as hell at California government, and he wasn’t going to take it anymore. So the chairman, CEO and president of Opus Bank launched a $1 billion challenge fund to provide capital to businesses that dare to expand their operations in California. . . And Gordon has tired of California relying on its crown jewels: high-tech companies. “Real America isn’t Silicon Valley,” he said. “The bulk of America is driven by businesses that aren’t sexy. You cannot bet all of California on that [sector] and then shut out the rest of America.”
One of the biggest factors in CEOs’ thinking is the attitude that local and state authorities have toward business and the perceived capriciousness of regulations, particularly those imposed on smaller firms least able to bear the costs. In this respect, if it were possible to rank 60th out of 50 states, California would likely rank No. 61. Joseph Vranich, an expert on corporate relocations, has counted more than 200 major companies with tens of thousands of employees that left the Golden State over the last four years.
California has met the future, and it really doesn’t work. As the mounting panic surrounding the drought suggests, the Golden State, once renowned for meeting human and geographic challenges, is losing its ability to cope with crises. As a result, the great American land of opportunity is devolving into something that resembles feudalism, a society dominated by rich and poor, with little opportunity for upward mobility for the state’s middle- and working classes.
“In the wake of the Great Recession, he said, many companies have relied on staffing agencies to manage regulatory changes in healthcare and workers’ compensation. “”As the government starts telling us how we need to operate, you’re going to see more and more survival techniques,”” Thalmayer said. “”And it may be through agencies like ours.”””