So far, these carbon auctions have yielded the state of California approximately $2.8 billion in revenue, said CARB spokesman David Clegern. Half of that money goes to utility companies to offset electricity costs, and the other half is spent on an array of programs intended to help clean California’s air.
Of the 9,000 businesses that he estimates disinvested in California, some relocated completely while others kept their headquarters in California but targeted out-of-state locations for expansions, Vranich found. The report did not count instances of companies opening a new out-of-state facility to tap a growing market, an act unrelated to California’s business environment.
When Sacramento voters go to the polls next year, they may find four competing minimum-wage proposals to choose from. All of them would raise the wage to an hourly $15 before tying it to inflation.
After the dust settled Sunday on the final day of the year’s regular legislative session, business groups were quick to claim victory over a torrent of labor-backed bills.
The trade group, which represents Chevron, Sempra Energy and 25 other major employers, normally opposes taxes. But earlier this month, the roundtable joined forces with the California Chamber of Commerce and organized labor to promote a plan that would raise $6 billion for infrastructure. The plan calls for a mix road-related driver fees and for funneling existing tax dollars into roads, highways and bridges.
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 conceivable that they might do gas rationing or travel limitations…those are conceivable results,” said Citrus Heights Mayor Sue Frost in an interview. “At the end of the day, the damage goes to the consumer.”
Pavely said she isn’t worried that her bill will die, however. The messaging from opponents is “easy to refute,” she said. The real challenge, she said, is to educate lawmakers on the state’s broader goals on climate change so that laws written after she is termed out continue to advance the program.
That mandate could then become a weapon for anti-development groups to sue builders under the California Environmental Quality Act, said Richard Lyon, the association’s senior vice president.
Senate Bill 32, which would extend and expand California’s pollution reduction targets into the year 2050, would likely create a mandate that all homes produce zero net energy, warned a report issued Monday by the California Building Industry Association.
Some Senate Republicans are open to raising costs on motorists, said Senate Republican leader Bob Huff. But Democrats must first agree to bureaucratic changes that will increase efficiency and redirect existing road funds back into transportation, he said.
California reported an increase in new claims of 2,930. The state attributed the change to layoffs in the service industry.
Just last month, new figures from the U.S. Bureau of Economic Analysis appeared to reaffirm the state’s seventh place standing. But on Wednesday, revised estimates from the World Bank showed that Brazil had in fact ticked upward and pushed closer to the front of the line.
While New England isn’t noted for sunshine, the company chose the Boston market because that city has among the highest per-capita solar use in the country, she said.
California reported an increase in new claims of 2,185. The state did not offer a reason for the change.