Governor’s Office of Business and Economic Development

Doing business in California

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
Doing business in California
Aerial view over Cupertino in Bay Area, California. (Photo: Adobe Stock/Newport Coast Media)


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.


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.


Antioch California

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.


City of ColtonThe 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.


City of Industry CA

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.


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


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.


#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

From the July / August 2023 issue of Business Facilities


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