05/22/2019

News

Economic Prosperity Strategy

The San Francisco Bay Area is in the midst of a strong recovery from the past decade’s economic downturn. However, the benefits of prosperity are not universally shared. In the Bay Area, more than 1.1 million workers — over a third of the total workforce — earn less than $18 per hour.

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Statewide Figures Show High School Exit Exam Scores Hold Steady

About 83 percent of students in the Class of 2016 who took the California High School Exit Exam for the first time this spring passed the English section, while 85 percent passed in math, according to statewide figures released Friday.

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Top States for Doing Business 2014: Georgia Unseats Texas, Industrial Midwest Rises

Georgia’s success has come from dead reckoning in areas that are crucial to business locators. That includes the state’s welcoming and business-friendly government, to be sure. And employers are enthusiastic about one of the Georgia legislature’s most recent moves: passing significant workers’ compensation reform that cuts costs for business.

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Los Angeles is the Largest Manufacturing Center in US, Government Says

The largest manufacturing workforce in the country is based in the Los Angeles, Long Beach and Santa Ana metropolitan area, according to government figures..

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Los Angeles-Long Beach-Santa Ana had Highest Employment in Manufacturing Among Areas, July 2014

In July 2014, among metropolitan areas for which estimates are available, Los Angeles-Long Beach-Santa Ana, California, had the highest employment in manufacturing (510,900). In contrast, Fairbanks, Alaska, Laredo, Texas, and Punta Gorda, Florida, each had 700 workers employed in manufacturing.

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Watchdog Groups Ask State to Stop “Harmful” Tesla Competition

A coalition of nonprofits say states are in a race to the bottom in the competition to win a giant Tesla Motors battery factory. In California, lawmakers are set to consider a tax and regulatory incentive package for the company.

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Small-Business Lending is Slow to Recover

Across the U.S., small-business lending has been stuck in a slow, grinding recovery behind most other types of business and consumer loans. At the end of the first quarter, banks held $585 billion in loans to small businesses, up 1% from last September but still 18% less than the peak of $711 billion in 2008, according to the Federal Deposit Insurance Corp.

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A Year of Action: Summit Plan to Advance Prosperity in 2014

This report details how these nine Summit proposals are the foundation for rebuilding California’s struggling middle class and restoring upward mobility. It also highlights a wealth of opportunities for the Summit’s seven action teams to engage and collaborate to make them a reality.

Research & Studies
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UC Davis Says It Launched 14 Tech Companies in Past Year, Most Ever

Developing more startup companies based on UC Davis inventions has been a goal of Chancellor Linda P.B. Katehi since she took over at Davis in 2009.

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Wall Street Reform Law Only Half Done

According to law firm Davis Polk, 208 (52%) of the 398 total rulemaking requirements have been met so far. It’s an improvement from 2012, when just 31% of the Dodd-Frank rules were in force, but still lacking.

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Enterprising States 2014

The U.S. Chamber of Commerce Foundation has released its annual Enterprising States study, offering an in-depth look at the free enterprise policies being implemented to promote economic growth at the state and local levels. . . The 2014 report relates these policies and practices to the need for collaboration between education, workforce development, and economic development to positively combat the nation’s growing skills gap.

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Building a Nation of Makers

A University of Virginia Miller Center commission, chaired by former Governors Haley Barbour and Evan Bayh, released a report offering innovative, non-partisan, actionable ideas on how to create middle-class manufacturing jobs.

Research & Studies
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Go-Biz Releases California Competes Tax Credit Recommendations

The tax credits are offered to companies interested in expanding or relocating to California. GO-Biz is recommending 31 companies – including 11 small businesses – for a total of approximately $30 million in tax credits. According to the 31 companies, these credits could help create approximately 6,000 jobs and spur more than $2 billion in investment across California. These companies represent industries such as manufacturing, biotech, agriculture, food processing, aerospace, high tech, clean tech and more.

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International Trade Outlook

Los Angeles County has established very close economic ties with China. The Los Angeles Customs District (LACD) handles over 40% of total U.S., trade with China. Indeed, the ports of Los Angeles and Long Beach together handle nearly 37% of total trade between China and the U.S. In fact, roughly 60% of two-way trade volumes at the Port of LA and the Port of Long Beach and over 50% of the total two-way trade value at the Los Angeles Customs District (LACD) are related to trade with China.

Research & Studies
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Report: China Trade with LA County

With the U.S. economy advancing slowly but surely in 2013 and with the nation’s major trading partners in various stages of recovery or expansion, international trade at the national level grew modestly last year and let to continued improvement in the Southern California goods movement and trade picture. The Los Angeles Customs District (LACD) held onto the top spot among customs districts for two-way trade last year, while container activity at the San Pedro ports – the largest port complex in the Western Hemisphere — finally rose above the 14 million container plateau of recent years. Transportation and warehousing employment increased for the third year in a row.

Research & Studies
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