“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
Aerial view over Cupertino in Bay Area, California. (Photo: Adobe Stock/Newport Coast Media)
TARGETED GROWTH SECTORS
Climate & Clean Energy: 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.
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, brought in more than 85% of the total capital invested in U.S. space-related companies.
ARCHES: Regional Clean Hydrogen Hub
In 2024, the U.S. Department of Energy (DOE) and the Alliance for Renewable Clean Hydrogen Energy Systems (ARCHES) announced the official signing of a $12.6 billion agreement to build a Hydrogen Hub, including the up to $1.2 billion in federal funding announced in 2023 when California was selected. ARCHES is the first of seven Hydrogen Hubs in the U.S. to officially sign an agreement with DOE. The ARCHES hub will facilitate a network of clean, renewable hydrogen production sites, with the ultimate goal of decarbonizing public transportation, heavy duty trucking, and port operations by two million metric tons per year.
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 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 (2024 est.): 38,889,800¹
Largest Cities (2024 est.): Los Angeles (3,822,782); San Diego (1,388,996); San Jose (956,433); San Francisco (788,478); Fresno (546,718)¹
Real GDP (2023): $3.9 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 12 factors, including full-time jobs being created, investment amount, and strategic importance to the state.
TOP BUSINESS FACILITIES RANKINGS
#1 AgriTech
2024 State Rankings
#1 AI Growth Hubs
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#1 MedTech/Medical Devices
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#2 Aerospace/Defense
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#2 Life Sciences Leaders
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#3 Foreign Direct Investment
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Top 5 Cybersecurity
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Top 5 Semiconductors
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#2 Top Container Ports (by TEUs): Port of Long Beach
Projects in Georgia, California, and Arizona aim to strengthen America’s leadership in cutting-edge substrate technology for critical industries like AI.
