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The Milken Institute’s fourth annual California Summit provided an opportunity to assemble prominent state leaders in business, policy, philanthropy, and academia to address the issues facing the world’s seventh-largest economy and one of the most diverse populations on the globe. Held December 8, 2015, at the Ritz-Carlton in Marina del Rey, the Summit focused on four key areas that define many of the challenges facing the state: the business climate; the need for opportunities in finance and access to capital, including financial technology; investment in the state’s infrastructure, particularly involving water; and the need to maintain and grow the culture of innovation.

. . .the most comprehensive measurement of regional biotech centers ever conducted, shows that only a handful of metropolitan areas have succeeded on a scale necessary to ensure industry sustainability.

“. . . offers an in-depth look at the city’s economy — its workforce, industries and business trends — and recommends what city and business leaders can do to make L.A. more competitive regional and globally. “

These imbalances raise questions about access and potential stumbling blocks to individuals in different demographic groups. The fact that many of these individuals are also in low- and moderate-income communities intensifies the urgency of such questions. To limit their individual entrepreneurial opportunities is to limit the chances for their communities to achieve prosperity.

“. . .based on the Milken Institute 2008 State Technology and Science Index, which encapsulates each state’s comprehensive inventory of technology and science assets that can be leveraged to promote economic development. “

“. . .uses the current cost of congestion (defined as time and fuel wasted due to travel delays during peak periods) as a starting point, and examines exactly how much that burden will grow if road capacity remains unchanged through the year 2030. The authors also examine alternate scenarios to determine the extent to which future congestion costs can be mitigated by undertaking manageable levels of new road construction during the same period. “

“. . . report outlines recommended steps to help California turn the tide. It also analyzes what other countries and states are doing to attract film production and post-production business. “

Last year, Texas exported $249 billion in goods and services, compared the Golden State’s $159 billion. This report from the Milken Institute charts a path for how the state can reverse the trend.

. . .plan for creating more widespread prosperity across the county.

“. . . examines the history and impact of both public investment and publicly documented private equity investment in the Central Valley. It includes recommendations for strengthening economic development by leveraging current investment and driving future investment in the region. “

. . .compares the industry’s performance to other states and quantifies the damage resulting from a failure to address previous concerns.