DOING BUSINESS IN CALIFORNIA
Governor’s Office of Business and Economic Development
877-345-4633
calbis@gobiz.ca.gov
www.business.ca.gov
“California is dominating new industries and investing in the future of the world’s most innovative companies. We’re on track to become the world’s 4th largest economy because of the work we’re putting in to support cutting-edge businesses – creating thousands of family-supporting jobs across the state, fostering innovation, and generating new opportunities for thousands of Californians.”
— Dee Dee Myers, Sr. Advisor to Gov. Newsom/
Director of the Governor’s Office of Business & Econ. Development
TARGETED GROWTH SECTORS
Climate & Clean Energy: California has a long history of innovation for climate, climate energy, and environmental sustainability. California set the nation’s first economy-wide greenhouse gas limit, the first climate emissions standards for cars, and is committed to 100% renewable energy by 2045.
Biotechnology: California is the birthplace of the industry and home to several of the nation’s leading biomedical sciences research institutions. The life sciences industry generates nearly 1 million direct and indirect jobs and over $191 billion in annual revenue.
Aerospace, Defense & Space Technologies: California houses nearly one-third of all U.S. space tech companies, and more than one in 10 globally. In the last 11 years, the state attracted nearly half the nation’s space tech investment capital and, in 2022 alone, we’ve brought in more than 85% of the total capital invested in U.S. space-related companies.
NOTABLE PROJECTS
As part of the CalCompetes program, California recently awarded more than $149 million in grants and tax credits to a dozen companies, creating 6,000 full-time jobs and bringing roughly $1.3 billion in investment to the state over five years. Companies include Joby, which will invest $40 million and create nearly 700 jobs through expansions in Santa Cruz and Marina; Tynergy will create 500 jobs through its nearly $21 million capital investment to relocate its headquarters to Fresno; and in Rancho Cordova, Sparkz expects to create 500 jobs and generate $83 million in capital investment.
FEATURED LOCATIONS
In Antioch, opportunity is everywhere. It’s our location, location, location in the center of everything. It’s affordable building sites and greenfield parcels and our very own BART station. It’s our growing city, our freeway access and our diverse population. It’s being a Bay Area city that’s friendly to development and developers—because we can’t wait to see what develops next.
The City of Colton is proud of its growing role as a center for new business, residential, and employment opportunities in the County of San Bernardino. A comprehensive transportation network, available underdeveloped land, a skilled, ready-to-work labor pool, and a viable partnership between business, city, and county government contributes vitality to an already established commerce.
The City of Industry has a daytime workforce population of more than 60,000 people working in over 3,000 companies located in the city. Designed to attract businesses that benefit from a skilled and dedicated workforce from the surrounding communities, the City is committed to continuously improving the necessary tools to attract manufacturers and employees that want to grow and take pride in American-made products.
FAST FACTS
Population (July 2022 est.): 39,029,342¹
Largest Cities (2020): Los Angeles (3,889,834); San Diego (1,385,394); San Jose (1,010,908); San Francisco (870,014); Fresno (542,159)¹
Real GDP (2022): $2.88 trillion²
¹U.S. Census Bureau
²Bureau of Economic Analysis, U.S. Dept. of Commerce
TAX CREDITS & GRANTS
The California Competes Program offers tax credits and grants to businesses that want to locate, stay, or grow in California. Applicants are analyzed based on 14 factors, including full-time jobs being created, investment amount, and strategic importance to the state.
TOP BUSINESS FACILITIES RANKINGS
#1 Food Processing | 2023 State Rankings |
#1 EV Charging Infrastructure | 2023 State Rankings |
#1 Agribusiness | 2023 State Rankings |
#1 Medtech/Medical Devices | 2023 State Rankings |
#2 Aerospace/Defense | 2023 State Rankings |
#2 Life Sciences | 2023 State Rankings |
Top 5 Tech Talent Pipeline | 2023 State Rankings |
Top 5 Semiconductors | 2023 State Rankings |
#2 Food Processing: Los Angeles-Long Beach-Anaheim | 2023 Metro Rankings |
Top 5 Financial Center: San Francisco | 2023 Global Rankings |