By Roneshia Thomas
From the January/February 2023 issue
With a focus on clean biotechnology and energy California is home to several of the nation’s leading biomedical research institutions. The Golden State is known for leading the nation in many ways, and these two areas have been no exception. It set America’s first economy-wide greenhouse gas limit and climate emission standard for vehicles within the state. California has committed to using 100% renewable energy by 2045.
Being the birthplace of the biotechnology industry, The Golden State brings in over $191 million in revenues annually and almost one million direct and indirect jobs. Just last year, Google broke ground on a new facility in San Jose that will bring the city 25,000 jobs and approximately $155 million in capital investment. After several years of planning, Apple finalized plans to expand into San Diego putting $445 million back into the city with the purchase of a 67-acre office campus projected to create over 5,000 jobs by 2026.
If businesses are thinking of relocating or expanding in California along with Google and Apple, the state offers the California Competes Tax Credit (CCTC). This tax credit is available to any business that wants to locate, stay, and grow in California. This program has created over 153,000 full-time jobs for the state in the last five years and can be applied to any industry and size of business. The Golden State also offers the California State Trade Expansion Program (STEP) to provide funding and assistance to small businesses aiming to initiate or expand their export activities in the state.
Another key industry in California is aerospace and space technologies. The state is home to almost one-third of the nation’s tech companies and attracts around half the nation’s space tech investment capital annually.
“California is truly a star when it comes to aerospace. We have a long list of unique assets that make us the perfect home for this critical and exciting industry, and we are committed to taking the nation’s space program to the next frontier,” said Governor Gavin Newsom.
To support the growing industries in The Golden State, there is a robust pipeline of young and growing talent across the state. California has nearly three million students currently enrolled, is home to the nation’s largest four-year public university system, and accounts for half of the nation’s top 10 public universities.
“California has the market experience, workforce talent, public and private investment base, and renewable resources to partner with the federal government to create an economically resilient, expanding hydrogen hub that helps accelerate national success,” said Dee Dee Myers, Director of GO-Biz and Senior Economic Advisor to Governor Newsom.
City Of Fontana: Focused On Revitalization
Located in the heart of one of the most robust residential and commercial centers in the United States, Fontana, CA is the largest city in San Bernardino County. This Southern California economic engine is home to a diverse and skilled workforce; a multimodal transportation network that includes major freeways, rail, and convenient access to an international airport; and a vibrant business community comprised of global corporations and highly successful small- to mid-sized companies. Its unparalleled spirit of collaboration is aimed at improving business opportunities and quality of life.
It is expected that by 2030, Fontana’s population will surpass 250,000 residents. Growth of this magnitude is neither coincidental nor incidental and requires careful planning for the future to mitigate impacts on public safety, infrastructure, housing, and economic vitality. Over the next 25 years, population growth and demographic shifts will continue to transform the character of the region, creating unique and vast opportunities.
Residential Highlight. In December 2022, the Housing and Community Development Department awarded the City of Fontana the distinguished Pro-Housing Designation. Only six local jurisdictions received the designation, which recognizes policy actions to remove barriers for affordable housing production and promote infill development that reduces negative climate change impacts.
Infrastructure Highlight. In September 2022, Fontana was awarded $15 million by the U.S. Department of Transportation for the Building a Better Connected Inland Empire Transportation Project. This grant will help construct a multi-use trail and sidewalk network. The grant also will support a rebuild of two primary roadway corridors near SR 210 and the I-15 Freeway with additional lane capacity, protected left turn lanes, roundabouts, bus turnouts, streetlights, more than four miles of bike lanes, and sidewalks. Together, these improvements will make transportation safer, shorten commute times, expand options for biking, walking, and bus transit—all while reducing carbon emissions in the area. In addition, the project will improve transportation across 536 acres of the Westgate Development.
Commercial Highlight. On October 11, 2022, the Fontana City Council agreed to rename the historic Center Stage Theater in honor of the Fontana native, and legendary lead singer of Van Halen, Sammy Hagar as part of the Downtown Revitalization Initiative.
Fontana’s Downtown Revitalization Initiative is a cornerstone of the city’s economic development program. This comprehensive approach is focused on transforming the downtown area into a vibrant center that offers a high quality of life through diverse housing, sustainable transportation, job creation, and commercial business growth.
Today, Fontana is a stronghold for industry and commerce in the Southern California marketplace offering a supportive business-friendly environment, and is committed to making major investments in the community through capital improvements. These factors have created a lucrative and attractive atmosphere that contributes to making Fontana a place where businesses choose to establish, relocate to, or expand.
For more information, visit www.fontana.org.