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California Means Business is the place to read the good news about California businesses – how they are growing, expanding, investing, setting the tone, and illustrating why our state is the 6th largest economy in the world.

LA economy booming as unemployment rates cut in half

The number of jobs in Los Angeles has surpassed pre-recession highs and also moved past the local economy’s peak of the early 1990s, Mayor Eric Garcetti announced Wednesday. The city has added 135,000 jobs over the last three years and unemployment through October has been cut in half during that time, from 10 percent to 5 percent, his office said, citing the UCLA Anderson Forecast.
MyNewsLA.com 12/14/2016

California Leads Country With Most Job Gains

California’s employment picture improved last month, with 29,000 new private sector jobs added. Experts see the trend continuing into next year. The Employment Report by ADP, a leading human resource provider, showed private sector jobs climbed to 216,000 nationwide with California leading the country with the most job gains.

California added 63,000 jobs in August, 42% of U.S. total

California employers quieted any lingering doubts about the state’s economy in August, as an uptick in hiring helped absorb hordes of new job-seekers. The state added a net 63,100 jobs last month and the unemployment rate remained at 5.5%, according to data released by the Employment Development Department.

Thousands find work building and staffing Golden 1 Center

Less than a month before opening night, though, one thing is reasonably certain: Golden 1 Center has been, and will continue to be, a major generator of jobs – considerably more than predicted. The impact will be visible from the moment fans pour into the arena Oct. 4 for the inaugural event, a Paul McCartney concert. Golden 1 will employ as many as 2,000 workers on event nights, hundreds more than the Kings’ old venue, Sleep Train Arena. A major difference is Golden 1 will have far more workers serving food and drinks.
Sacramento Bee 09/12/2016

Silicon Beach Report Aug. 19: L.A. Tech Wages Rising Fastest in the Nation

Los Angeles County tech wages are growing faster than the earnings of tech employees in the nation’s other big cities, according to data from the U.S. Bureau of Labor Statistics, reports the L.A. Business Journal. The average tech wage in Los Angeles grew 13.2 percent to an average of $115,000 last year, nearly doubling the rate of the South Florida region, which came in No. 2 with a year-to-year increase of 7.2 percent.

Amazon bringing 1,000 jobs to Sacramento

Online retailer Amazon.com confirmed Friday that it plans to open a 1,000-employee distribution center in Sacramento. The facility will be built at Metro Air Park, a long-planned development near Sacramento International Airport, said Sacramento County spokeswoman Chris Andis. After weeks of rumors, Amazon said the 855,000-square-foot facility is expected to open in four months. It will become Amazon’s tenth customer-fulfillment center in California.
Sacramento Bee 07/15/2016

Electric carmaker to invest hundreds of millions of dollars into North Bay factory

A section of the former Mare Island Naval Shipyard in Vallejo could become a site for the first new car factory built in California in decades.Los Angeles-based Faraday Future, a private electric car startup, is close to locking in an exclusive negotiating agreement with the City of Vallejo to buy a 157-acre site to build a production facility and showroom. The potential deal would be a huge economic boost for Vallejo, which emerged from bankruptcy five years ago.

California unemployment falls amid strong job growth

A week after Gov. Jerry Brown warned of a possible slowdown in California’s economy, state officials reported Friday that unemployment continued falling in April as job growth perked up. The unemployment rate fell to 5.3 percent, down a tenth of a point from the month before, the Employment Development Department said. It was the lowest statewide unemployment rate since June 2007. Job growth statewide in April was a robust 59,600, up sharply from the 5,200 jobs added in March. The numbers suggest California is “on track for another good year in 2016,” said economist Stephen Levy, of the Center for Continuing Study of the California Economy, in a note to reporters.
Sacramento Bee 05/20/2016

Biotech Manufacturing Company Relocating Headquarters from Texas to California

Earlier today Cerebain Biotech announced they are relocating their headquarters from Dallas, Texas to Costa Mesa, California. GO-Biz reached out to Cerebain to welcome them to California and offer our services as they complete the transition of their headquarters. “GO-Biz is excited to welcome Cerebain Biotech to California – the home of the biotech industry,” said GO-Biz director Panorea Avdis. “Cerebain is relocating to California in order to tap into the world’s most innovative biotech ecosystem featuring highly skilled workers, a great environment for business and a broad array of partners at the local and state level.” California is home to more biotech companies than any other state in the US. There are 2,848 biotech companies in California, including industry-leading global corporations, entrepreneurial start-ups, medical device manufacturers like Cerebain and more. California biotech companies directly employ 281,000 people and generate $130 billion in revenue.
Business Wire 05/04/2016

Detroit craves Silicon Valley speed, innovation

If General Motors Co. and Ford Motor Co. get their way, the road they’re traveling more frequently to Silicon Valley will become a two-way street. “We’re looking for that innovative mindset through the total business,” says Raj Nair, Ford’s executive vice president of product development. “It’s just as critical to the core business as it is to these emerging opportunities. I wouldn’t say there is a sense of panic, but there is a sense of urgency and speed.”
Detroit News 04/19/2016

California’s national monuments make dollars – and sense, study says

The national monuments established in California by President Barack Obama benefit the region’s bottom line, according to a new study meant to shape an enduring debate. While critics worry about presidents locking up public lands, the new study asserts that millions of visitors generate tens of millions of dollars for businesses serving the Obama-designated national monuments, including four in California that were included in the assessment.
Fresno Bee 04/06/2016

UCLA Forecast: California Job Growth to Outpace Nation

A UCLA Anderson School economic forecast released Wednesday projects that California’s unemployment will continue to fall, continuing a trend seen over the past year. CBSLA.com reports Senior Economist Jerry Nickelsburg says the growing number of employed workers has taken the state to new employment heights and will put it closer to “full employment” status ithis year. The trend is expected to continue into 2017 as the economist projects the state’s unemployment rate would hit 4.9 percent by the close of 2016.

Silicon Valley’s zero-gravity space startup boom

The next big thing in space exploration might not come from a shiny NASA research facility. Instead, it may spring from an abandoned gas station or a converted McDonald’s in the heart of Silicon Valley’s growing space startup scene. Bay Area companies are commercializing the space industry, with ambitions as lofty as the cruising altitude of the International Space Station. They range from Deep Space Industries, which plans to mine asteroids, to Made In Space, which is working on in-space manufacturing, to Planet Labs, which aims to take daily photographs of everywhere on Earth.

Unemployment rates fall in Sacramento, statewide

California’s farm industry kept growing in 2015 despite a fourth year of drought, adding 30,000 jobs even as farmers idled huge swaths of land because of water shortages. Preliminary estimates from the state Employment Development Department show farm employment increased by an average 7 percent from 2014.
Sacramento Bee 03/18/2016

Unemployment rates fall in Sacramento, statewide

California and Sacramento’s unemployment rates fell last month to their lowest levels since 2007, suggesting the state’s economy is continuing to improve despite signs of a global slowdown. California and Sacramento’s unemployment rates fell last month to their lowest levels since 2007, suggesting the state’s economy is continuing to improve despite signs of a global slowdown.
Sacramento Bee 03/18/2016

Los Angeles tourism sets record for 5th straight year

Los Angeles has set a tourism record for the fifth year in a row. Mayor Eric Garcetti and the city’s tourism board say 45.5 million people visited the city last year — up by nearly 3 percent or about 1.3 million visitors from 2014.
Associated Press 01/11/2016

California cranks out new business and jobs despite criticism

California has spawned new businesses at one of the fastest rates in the nation over the last decade, and faster than the U.S. economy overall, the report found. The state is also a leader in job creation tied to those new businesses: In 2013, California added jobs from newly established businesses faster than all but four other states.

Survey: California Business Climate Is Better Than Expected

A recent survey by the non-partisan group Next 10 finds California’s business climate may be better than some people say it is. Pro-business and anti-tax groups have long derided California as a state with an unfriendly business climate. But a recent Next 10 report prepared by Beacon Economics finds that’s not the case. California’s business climate gets high marks for job creation when compared to other states in a new survey put together by Beacon Economics.
KPBS 12/21/2015

California leads nation in ‘minority-owned businesses’

California – and particularly Los Angeles County – are leading the nation in non-Anglo business ownership, a new Census Bureau report says. The bureau calls them “minority-owned businesses” but in California, Latinos are the largest single ethnic group and non-Latino whites are less than 40 percent of the population.
Sacramento Bee 12/15/2015

State’s economy is doing well

There is a fierce debate about whether or not California is business friendly. Those who believe California is bad for business usually point to our state’s high tax rates and regulations. Those who say California is good for business note that our GDP is the eighth largest in the world, and say we are established as a global center of innovation with the world’s largest tech firms. We know these facts are not the only issues that determine economic growth. That inspired the nonpartisan think tank Next 10 to ask the independent research firm Beacon Economics to look further into the question. Beacon looked at the U.S. Census Bureau’s business dynamic statistics to determine where California ranks compared to other states on new business growth, small business growth and net job creation.

For example, there’s strong evidence that California is a magnet for investors. Last year, businesses attracted $28.9 billion in venture capital investment, far and away the most of any state. This could be because we also lead the nation in new patents granted each year. And despite claims that skilled workers are leaving California because of high taxes, the state has actually seen a net positive domestic migration of individuals who earn more than $50,000 annually.
Sacramento Bee 12/14/2015

Defying conventional wisdom, report calls California a good place for business

Contradicting an entrenched narrative that California is a bad place to start or expand a business, a new report sets out to make a case that the Golden State is a national leader in job creation. The California New Business Creation study uses 2013 U.S. Census Bureau data to show that the state ranks fourth in the nation for job creation and fifth for the creation of new businesses. It comes from Next10, a San Francisco-based pro-renewable energy group, and Beacon Economics, a Los Angeles economic consulting firm.
Sacramento Business Journal 12/10/2015

SIL VALLEY TOPS THE LIST — “50 Most Innovative Companies”

The Boston Consulting Group released its 10th annual listing of the world’s 50 Most Innovative Companies this morning. The list is based on a survey of 1,500 C-suite executives, who were asked to rank companies across industries and within their own industry. It also gives weight to total returns to shareholders over five years.

“Top three on the list – Apple, Google, Tesla – come as no surprise. But it gets interesting after that. Samsung clocked in at a very respectable number 5. Automakers other than Tesla earned three more spots in the top ten: Toyota (6), BMW (7) and Daimler (10.) Study co-author Andrew Taylor says the strong showing reflects how much autos have changed in the last decade, both in their power trains and as “delivery systems for other innovative technologies.”
Fortune Magazine 12/02/2015

California adds 41,200 jobs in October; unemployment rate is lowest since 2007

California employers added 41,200 net jobs in October, a significant increase from more sluggish growth reported a month earlier, according to federal data. The state unemployment rate in October fell to 5.8%, down from 5.9% in September and the lowest since October 2007.

Esmael Adibi, an economist at Chapman University, said the month-to-month numbers have fluctuated pretty widely throughout the year, with some months showing huge gains and others smaller ones. The revisions to September’s numbers are significant, he said, and are a sign that the state’s pace of job creation has remained healthy. “California is doing much stronger than the U.S.,” he said.

California has added jobs at a rate of 2.9% over the last year, faster than the 2% growth rate for the U.S. overall. The fastest gains over the last year have come in the construction industry, which posted a 7.3% gain since last October, and professional and business services, up 5.3%. Since the Great Recession sent California’s unemployment above 12% in 2010 — higher than every state except Michigan and Nevada — the state’s economic rebound has been swift. For the last three years, California has added jobs at a rate faster than all but five other states.
Los Angeles Times 11/20/2015

Aetna, Other Valley Firms to Hire 556 Thanks to $3.77M in State Tax Credits

Central Valley companies plan to create 556 new jobs in the next several years, thanks to $3.77 million in state tax credits awarded last week. It’s the biggest showing yet for local companies participating in the California Competes program administered by the Governor’s Office of Business and Economic Development (GO-Biz). Started in 2014, California Competes offers tax credits to companies that want to relocate, remain or expand in the Golden State. The companies are required to sign a five-year agreement with the state promising to meet annual targets for job creation and financial investment. The 13 companies that won tax credits in the Central Valley plan to invest more than $70 million combined to hire and expand operations in the next five years.
The Business Journal 11/16/2015

Golden Ranking

A surprise for all those critics who keep insisting California regulations are bad for business: a new study ranks California as in the top three U.S. States for “the best conditions” for American entrepreneurs. The personal finance website “GOBankingRates’ said its study “investigated the startup opportunities and existing small businesses in each state, along with how startup-friendly each state’s business climate and economy is to determine the best and worst states for entrepreneurs for 2015.” Top three states: “Washington, Wyoming and California are the best states for entrepreneurs.”
Politico.com 11/03/2015

Look here! Bay Area dominates list of best California cities for job seekers

Fifteen of the 20 best cities in California for job seekers are in the Bay Area. San Francisco took the No. 20 spot, with the 21st best job market and 40th best socioeconomic environment. San Francisco has more job openings than any other city in California, according to the report.
San Francisco Chronicle 10/30/2015

50 Happiest Companies in the U.S.

Twenty-six of the 50 happiest companies in the U.S. are based in California. Earlier this year, CareerBliss created a list of the 50 happiest companies in America. To determine which companies made the grade, CareerBliss reviewed thousands of company reviews from visitors to its website–grading such things as work-life balance, relationship with boss and co-workers, work environment, compensation, growth opportunities, company culture, and more.
Inc. Magazine 10/29/2015

 

States with the Most Fortune 500 Companies

Apple, Google, Facebook, Netflix and Saleforce are just a few of the Fortune 500 companies that call California home.
Fortune Magazine 10/23/2015

Best and Worst States for Entrepreneurs

GOLDEN RANKING — A surprise for all those critics who keep insisting California regulations are bad for business: a new study ranks California as in the top three U.S. States for “the best conditions” for American entrepreneurs.
The personal finance website “GOBankingRates’ said its study “investigated the startup opportunities and existing small businesses in each state, along with how startup-friendly each state’s business climate and economy is to determine the best and worst states for entrepreneurs for 2015.”
Top three states: “Washington, Wyoming and California are the best states for entrepreneurs.

ifteen of the 20 best cities in California for job seekers are in the Bay Area. San Francisco took the No. 20 spot, with the 21st best job market and 40th best socioeconomic environment. San Francisco has more job openings than any other city in California, according to the report.
GoBankingRates10/12/2015

“American Horror Story” among shows not scared of California tax breaks

“American Horror Story,” “Veep” and 20 other film and television projects expected to benefit from an expanded tax credit program will generate an estimated $1.07 billion in local spending in California, Los Angeles Mayor Eric Garcetti said Friday. During a visit to the Century City set of “American Horror Story: Hotel”, Garcetti said the state is “fighting back against runaway production,” now that lawmakers have expanded to $330 million its pot of incentives aimed at luring projects back to California over five years.
Los Angeles Daily News 10/09/2015

California economy is projected to grow faster than U.S. through 2020

California’s economic growth will continue to outpace the rest of the nation over the next five years, according to a new forecast, though the expansion is expected to slow after next year. Despite recent turmoil in the financial markets and slowing growth in China, the Los Angeles County Economic Development Corp.’s annual forecast predicted continued job growth and economic output in the state through 2020. Job gains next year will continue to be driven by growth in construction, professional and technical services, and transportation and warehousing tied to international trade, the report found.
Los Angeles Times 9/30/2015

Top States for Doing Business 2015: California is Number 13

States that consistently rank at the top for business performance know what it takes to be successful — an attractive business environment (taxes, incentives, permitting), labor pool (cost, availability, education, skill level, training), and infrastructure/global access (transportation infrastructure, energy costs, intermodal capabilities, certified sites). When combined with a creative and proactive state economic development team, these advantages can seem irresistible to companies that are looking to locate or expand their operations. Companies want a quick, seamless startup. With an ever-widening global market, they need a well-integrated, modern transportation infrastructure to be competitive in these markets.
Area Development Q3/2015

Samsung opens doors on new Silicon Valley offices

Samsung on Thursday officially opened its newest US offices, giving the company a bigger presence in Silicon Valley. “We really want to leverage the [new site] as the foundation for our presence in Silicon Valley,” Jim Elliott, corporate vice president of memory marketing at Samsung, said Thursday during the company’s opening ceremony. The $300 million campus, located north of downtown San Jose, houses research and development and sales operations for Samsung’s US semiconductor business, which counts Apple, Nvidia and other companies among its customers. Samsung is the world’s biggest vendor of memory chips and the second-biggest processor maker overall after Intel.
CNET 9/24/2015

Applebee’s Moves HQ to Glendale

Restaurant operator DineEquity Inc. said Thursday that it would move the headquarters of its Applebee’s International Inc. chain from suburban Kansas City, Mo., to its Glendale corporate home.
LA Business Journal 9/3/2015

2015’s Best Cities for Women Entrepreneurs

3 of top 10 cities for women entrepreneurs are in California. With the growth of women-owned businesses on the rise throughout the country, it’s never been a better time to be a woman entrepreneur. That’s why we put together these rankings for 2015’s Best U.S. Cities for Women Entrepreneurs. In this report, we aggregated government data to better understand which U.S. cities provide the best backdrop for women entrepreneurs to launch a business – and which do not. The cities that rank highest in this report are places where women entrepreneurs have a better chance of finding a healthy economy and stable job market, as well as support from the local community and other like-minded businesswomen.
Good Call 8/20/2015

Car manufacturing in the Inland Empire? By next year, officials say

Imagine: After years of a rapidly declining manufacturing base, cars — newly built ones — rolling off an assembly line. Detroit? Try Inland Empire. It could happen by next year, officials said. Automotive manufacturing is returning to Southern California with the opening of a Fisker Automotive and Technology Group factory in Moreno Valley.
San Bernardino County Sun 8/12/2015

Out-of-state residents love California for summer vacations, study says

Good news for California’s tourism industry: The Golden State was one of the top summer destinations among vacationers in every other state in the nation. In fact, California was the most popular destination in 27 states, including Arizona, Alaska and Colorado, and ranked as the second most popular destination in 13 other states, including Pennsylvania, Ohio and Maryland. In the remaining states, California was among the top four destinations. The data came from a study by the travel website Priceline.com based on a sampling of travel bookings made in April and May for travel from June 22 to Sept. 21.
LA Times 8/11/2015

California doesn’t deserve its bad for business reputation

If you were to ask me why California is great for business, there is one major reason: the people. California has always attracted people who want to do something new—whether it’s panning for gold or founding the next great start-up. This same spirit has driven decades of research-led innovation in Silicon Valley, fueled by some of the best universities in the country, the nation’s top venture capital firms, and companies on a mission to change the world.
CNBC 7/14/2015

California opens one-stop website for info on launching a business

Governor Brown’s Office of Business and Economic Development (GO-Biz) has launched what it calls a “one-stop shop website” for business owners looking for information and assistance. The website, BusinessPortal.ca.gov, consolidates information on starting a business, state permits and regulations, and incentives. The business community has been vocal about its need for better online tools to navigate California’s regulatory environment. GO-Biz officials think this site helps answer that concern. “California business owners now have a resource to make it easier to do business in the state and GO-Biz will continually update the portal to ensure it keeps up with the demands of business owners and entrepreneurs,” said GO-Biz Chief Deputy Director Panorea Avdis.
California Economic Summit 7/01/2015

CrossCut Raises $75 Million to Invest in Early Stage L.A. Startups

Don’t tell CrossCut Ventures about the supposed glut of seed capital in Los Angeles. The Venice venture capital firm has just raised a $75 million fund to invest in early stage L.A. startups.
LA Business Journal 6/23/2015

Amazon announces 200 new jobs in Patterson

A large crowd of jobseekers showed up at the Amazon Fulfillment Center here Tuesday to take part in a one-day hiring event. And for good reason: the company announced on Tuesday that it is adding 200 jobs, the biggest expansion for the center since it opened in 2013.
The Modesto Bee 6/23/2015

California reclaims lead in film production

Hollywood may be the movie capital of the world, but last year it was Louisiana that claimed the crown in film production. “What a difference a year makes,” as FilmL.A.’s 2014 feature film study said. With a nearly 50 percent surge in film projects, California vaulted from fourth place in the survey to first by a wide margin — thanks in large part to the state’s animation industry.
San Francisco Business Times 5/29/2015

Silicon Valley Companies Plan Hiring Spree in 2015

Companies in Silicon Valley are planning a hiring spree this year, an indication that the economic upswing in the Bay Area has a long way to travel before it runs its course, according to a survey of the region’s chief executives released Tuesday.
Santa Cruz Sentinel 5/12/2015

Keeping Southern California competitive as gateway for world trade

At $418 billion in trade, the ports of Los Angeles and Long Beach can report the largest activity in the nation for the fourth year in a row, even with the recent disruptions at the ports. Moreover, despite unprecedented drought condition and the strengthening of the dollar making our products more expensive, we remain competitive in 2015.
LA Daily News 5/12/2015

California Still the Golden State

Young people, many fleeing New York’s frigid winters, sweltering summers and astronomical rents are pouring into Los Angeles these days, drawn by the Mediterranean climate, cheaper and more spacious housing and a very contemporary species of decentralized creativity… They love Californians’ ingenuity, most famously in recent decades in Silicon Valley but all over the state, as well as its style, much more relaxed than the Northeast’s.
Huffington Post 5/11/2015

California Competes

California is not only the largest, richest and most diverse economy in the United States, but also one of the nation’s fastest-growing economies and a national leader in job creation. California leads the nation in several economic categories: it is the No. 1 state for manufacturing and technology and for capital access and it is home to the nation’s most Fortune 500 companies.
Trade & Industry Development 5/11/2015

Chicago’s Avant to Build R&D Team in Playa Vista

Fast growing online consumer lending company Avant of Chicago, fresh off the acquisition of online personal debt management company ReadyForZero, said it would be expanding its Los Angeles presence, making the region a hub for development of new products… “I am going to be spending a lot of my time here,” said Goldstein, who added that Avant picked the location “because it’s really up and coming… Google’s new office will be less than a mile from us.”
Los Angeles Business Journal 4/3/2015

Our View: California’s demise is greatly exaggerated

California’s economic demise has been wrongly predicted so many times it’s a wonder people still insist on declaring that this time, the Golden State really is doomed. But they keep saying it. And they keep getting it wrong…Oops. Revised figures released last week paint a different picture. It turns out the earlier numbers were way off in both states. The new numbers, this time on a January to January calendar: California added 498,000 jobs, and Texas just 393,000.
Sacramento Bee
3/23/2015

California gained 498,000 jobs in 2014, beat Texas

The Bureau of Labor Statistics revised its 2014 employment numbers Tuesday and sharply raised net job creation in California to nearly a half-million. The upward revision in California was accompanied by a downward revision for Texas, reversing what had been reported earlier to be a big edge for the latter. Kish Rajan, director Gov. Jerry Brown’s Office of Business and Economic Development, hailed the revision during testimony to an Assembly hearing on the state of the economy as an indication that California is doing well in the competition for new job creation.
Sacramento Bee      3/18/2015

Market shows California is No. 1 for business

Places that prepare for big 21st-century challenges such as urbanization, climate change and globalization are likely to be the most successful. California companies lead the U.S. in confronting these risks with superior results for shareholders and bondholders.
Bloomberg News      3/12/2015

California State Receipts in February Beat Governor’s Budget Estimates

State Controller Betty T. Yee today published her monthly report of California’s cash balance, receipts, and disbursements. February 2015 receipts totaled $6.6 billion, beating estimates in the Governor’s proposed 2015-16 budget by $1 billion, or 18.3 percent, and reflecting an overall strengthening of the economy.
Orange County Breeze      3/10/2015

California job boom stronger than first thought; jobless rate improves to a six-year low

California’s employment picture was far more robust during 2014 than initially estimated, according to a report released Friday, a surge of strength that bodes well for next week’s release of updated figures for the Bay Area job market.
San Jose Mercury News
 
    3/6/2015

California Ranked #4 State Economy in U.S.

Silicon Valley is a major part of California’s economy. The state houses the headquarters of 53 Fortune 500 companies, including the tech heavyweights Apple, Hewlett-Packard, Google, Intel, Cisco, and Oracle, to name only a few. Of course, California’s massive economy stretches far beyond San Francisco and Palo Alto: The state’s gross domestic product is comparable with those of entire countries, including India, Canada, and Australia. California had the fifth-highest wages in the country, with a Q2 2014 average weekly wage of $1,072. The state’s housing prices went up 8.12% between Q3 2013 and Q3 2014, the third-biggest jump in the country. The state government’s huge 2013 surplus of $32 billion was the largest of any state.
Business Insider      3/3/2015

Where in the US should you launch your business?

In addition to the nation’s strongest manufacturing economy, California also has a very robust agricultural sector, as well as Silicon Valley, America’s tech innovation hub. Companies looking to move to California often focus on San Francisco, but Springer argues that the best options might be in lower-cost cities like Los Angeles and San Diego, which are often more eager to attract outside investment.
The Guardian      3/2/2015

California job growth, overall confidence boost economy

California’s economy is on an upswing with steady job growth, falling unemployment and increased confidence among businesses and consumers, according to a report released Wednesday.
San Gabriel Valley Tribune      2/18/2015

GO-Biz Receives 253 Applications from Businesses Seeking California Competes Tax Credit to Add Jobs in the State

Building on the state’s effort to help businesses expand and create new jobs, the Governor’s Office of Business and Economic Development (GO-Biz) today announced that it received a total of 253 applications with a combined tax credit request of $289 million for the most recent California Competes Tax Credit application period which closed on February 2, 2015.
California Governor’s Office of Business and Economic Development      2/06/2015

MiTu Captures $15 Million Series B Round

MiTu has closed $15 million in Series B financing to invest in tech and grow its editorial team. The Culver City multichannel network launched in 2012 to produce English and Spanish-language programming that appeals to Latinos. It currently boasts 80 million total subscribers that generate 700 million monthly views.
LA Business Journal      2/4/2015

California Still Has Nation’s Largest Manufacturing Sector

California had more manufacturing businesses (38,741) than any other state in 2012 and their 1.2 million employees were also the largest industrial workforce of any state, the report says. Those workers produced products valued at $512.3 billion, up 4.3 percent from the previous industrial census in 2007. That is the equivalent of nearly 25 percent of the state’s overall economic output, which would, were California a nation, rank its economy as the globe’s seventh largest.
The Sacramento Bee      1/27/2015

Ford Opens Lab in Silicon Valley

In the latest sign that the distinctions between the auto and tech industries are becoming more blurry, Ford on Thursday celebrated the opening of a new research center in Palo Alto, Calif., in the heart of Silicon Valley. The company said the new center would help advance new car technologies like built-in Internet connections and eventually self-driving vehicles. It will be led by Dragos Maciuca, a former senior engineer at Apple who has also led research and development at Lockheed Martin.
The New York Times      1/22/2015

Forest River Rolls Into Hemet with 300 Jobs

Forest River is now preparing to begin its manufacturing operations in Hemet. The company is the world’s largest recreational vehicle and trailer manufacturer. Its products include travel trailers, fifth wheels, pop-up tent campers, park model trailers, destination trailers, cargo trailers, commercial vehicles, buses, pontoons,restroom trailers and mobile offices.
Just Good News      1/15/2015

California Zooms Past Russia, Italy and Soon Brazil in Economic Might

California is overtaking Brazil as the world’s seventh-largest economy, bolstered by rising employment, home values and personal and corporate income, a year after the most-populous state surpassed Russia and Italy. The Golden State, with an equivalent gross domestic product of $2.20 trillion in 2013, expanded last year by almost every measure, according to data compiled by Bloomberg. Brazil’s gross domestic product, in contrast, declined 1 percent from $2.25 trillion in the first three quarters of 2014 as its export of raw materials fell.
Bloomberg News      1/15/2015

California Competes Committee Approves $31 Million in Tax Credits for 56 Companies Adding Jobs in California

Sacramento, Calif. – Building upon the state’s efforts to bolster the economy, the Governor’s Office of Business and Economic Development (GO-Biz) today announced that the California Competes Tax Credit (CCTC) committee approved approximately $31 million in tax credits for 56 companies expanding and creating jobs in California. “The California Competes tax credit continues to demonstrate that it is one of the most effective tools for encouraging companies to expand and add jobs in California,” said committee chair Michael E. Rossi. “This group of awardees will add jobs in nearly every region of the state further contributing to California’s position as the most dynamic economy in the world.”
CA GoBiz      1/15/2015

WHOLESALE PRODUCE MARKET TO SUPPORT 1,000 JOBS

The first phase of Wholesale Produce Market’s expansion is now completed in San Francisco. The market provides fresh produce to local and regional grocers, specialty and upscale retailers, restaurants, hotels, caterers and convention facilities. A total of 650 employees currently work at the market.
JustGoodNews.Biz      1/05/2015

California adds 90,100 jobs in November

Capping off three years of strong job growth, California employers added another 90,100 positions in November — one of the largest monthly hiring spurts in two decades.
LA Times      12/19/2014

Chinese Freight Firm Signs Large Lease in Cerritos

OTX Logistics Inc., an international freight-forwarder based in Hong Kong with U.S. headquarters in Los Angeles, has signed a lease to move inland from the South Bay to consolidate and expand its warehouse footprint by more than 360 percent.
LA Business Journal      12/11/2014

Almond industry gives $21 billion boost to California economy, study says

California’s booming almond industry generates more than 100,000 jobs and more than $21 billion in gross revenue across multiple industries, according to a new study by the University of California Agricultural Issues Center.
Fresno Bee      12/9/2014

Google buys 12 acres in Playa Vista, vastly expands presence in L.A.

Google Inc. is making a bold move to expand in Southern California, the nation’s nexus of technology and entertainment. The tech titan has spent nearly $120 million on 12 vacant acres next to a historic hangar where aviator Howard Hughes built his famous “Spruce Goose” airplane in the Playa Vista neighborhood near Marina del Rey. The land is zoned for nearly 900,000 square feet of commercial space that could house offices or studios, vastly more room than Google now occupies in a handful of buildings in Los Angeles County. “This is phenomenal news for the Westside and for the Los Angeles economy,” said City Councilman Mike Bonin, who represents the Playa Vista area. “It really makes and brands Playa Vista as the tech and innovation capital of Los Angeles.” The Mountain View, Calif., company wouldn’t detail its plans. But if Google is to develop the land as zoned, the Playa Vista site and the Hughes hangar could be home to as many as 6,000 well-paid, highly educated workers.
LA Times      12/3/2014

California Means Business

When we created the California Business Alliance more than five years ago, we intended to build a large network of companies that supports the state’s approach to clean energy and climate policy. We have succeeded in that task thanks to our nearly 1,300 small and mainstream businesses and business trade associations from throughout the state; yet, there still are forces in the broader business community that are resistant to sharing the positive news about California’s continued economic success.
California Business Alliance for a Clean Economy      11/10/2014

DogVacay Digs Up $25 Million

DogVacay, the site that vets dog-sitters for owners going out of town, has raised $25 million in a Series B round led by OMERS Ventures.
LA Business Journal      11/10/2014

Drink up! California grape harvest sparkling with success

The Wine Institute reports that a mild winter and spring caused early bud break…According to the U.S. Department of Agriculture Pacific Regional Crop Production Report for August, California’s wine grape production this year is forecast at 3.9 million tons, down 8 percent from 2013’s record high crop, but the third largest on record.
JustGoodNews.Biz      10/28/2014

Strong growth is forecast for Inland Empire

The Inland Empire is now the fastest-growing region in Southern California — a trend predicted to continue over the next five years, according to an economic forecast released Thursday.
LA Times      10/23/2014

Port of Long Beach Sees Heavy Traffic

Cargo numbers rose sharply for the Port of Long Beach in September as the port recorded its heaviest traffic for that month since 2007. Nearly 630,000 containers moved through the port last month, a 7 percent increase over the same month last year.
LA Business Journal      10/21/2014

The million-job economy returns to the Bay Area’s three major urban centers

For the first time since the 9/11 attacks, all three of the Bay Area’s employment hubs — the South Bay, the East Bay and the San Francisco metro area — are million-job economies, fresh evidence that the region has banished the woes of the Great Recession, a state labor report released Friday shows.
San Jose Mercury News      10/17/2014

Amazon to Hire 80,000 Seasonal Workers, Including in San Bernardino, Moreno Valley & Redlands

Three facilities in Southern California will be among Amazon’s centers nationwide hiring 80,000 seasonal workers, the company announced Thursday. The Seattle-based online retail giant has more than 50 fulfillment centers in the country, with three in the Inland Empire: in San Bernardino, Redlands and Moreno Valley.
KTLA 5      10/16/2014

40 Under 40

Congrats to 15 of the top 20 of Forbes 40 Under 40, who are either from or doing business in California.
Fortune Magazine      10/09/2014

Materials Recovery Facility Opening in Sun Valley

Athens Services is opening a $50 million recycling center in Sun Valley next week that will bring more than 100 jobs to the San Fernando Valley. The center will process more than 1,500 tons of garbage a day from residents and businesses in greater Los Angeles and separate out paper, plastic, aluminum and other recyclable material using optical sensors.
San Fernando Valley Business Journal      10/08/2014

Forecast: LA County to Hit New Employment Peak in 2015

After eight years, Los Angeles County should finally hit a new employment peak next year, according to a forecast to be released this morning from the Los Angeles County Economic Development Department. The department forecasts employers in the county will add 78,000 jobs to their payrolls this year and 63,000 jobs next year to bring total payroll jobs to 4.25 million. That would push the county’s employment level 26,000 jobs above the previous record reached in mid-2007, wiping out the job losses from the recession.
LA Business Journal      10/08/2014

Report: L.A. Has Most High-Tech Jobs

Los Angeles County has more high-tech jobs than any other metro region in the country, including its northern neighbors in Silicon Valley, according to a report released Monday. The county in 2013 employed more than 368,500 people in its high-technology sector, defined as businesses with a large proportion of technology-oriented jobs.
LA Business Journal      10/06/2014

Small businesses in SoCal increasingly optimistic, survey finds

Businesses in Southern California are increasingly optimistic, with most expecting better revenue this year and even higher sales in 2015, according to a new report. The vast majority expect to maintain or boost their investments in leases, contracts and other long-term commitments, according to the survey.
LA Times      9/29/2014

Los angeles is the largest manufacturing center in the U.S.

The largest manufacturing workforce in the country is based in the Los Angeles, Long Beach and Santa Ana metropolitan area, according to government figures. As of July, the region had 510,900 manufacturing workers, according to the Bureau of Labor Statistics.
LA Times      9/1/2014

San Joaquin Valley economy continues to grow

Fresno State research economist Ernie Goss says the central San Joaquin Valley’s economy is “is expanding, is doing real well,” according to a regional economic indicator. The San Joaquin Valley Business Conditions Index, prepared by Goss for the Craig School of Business at Fresno State, was 57.3, ticking upward from a score of 57 in June.
Fresno Bee      8/4/2014

24,000 jobs added in June

California’s unemployment rate dipped to 7.4% in June, a month in which the state finally recovered all the jobs lost during the recession. Data released by the U.S. Bureau of Labor Statistics on Friday showed that California added more than 24,000 jobs in June, capping a year of steady employment growth for the state. Over the past year, California’s unemployment rate has fallen from 9%, and the state has added more than 356,000 jobs.
LA Times      7/18/2014

California is world’s 8th largest economy, beating Russia and Italy

California’s economy has overtaken Russia and Italy, with the state now ranked as the world’s eighth largest economy. The state’s $2.203 trillion gross domestic product in 2013 put California slightly ahead of Russia and Italy and just behind the No. 7 economy, Brazil.
Sacramento Bee      7/8/2014

California is first in women’s business ownership

California remains home to the greatest number of women-owned businesses in the nation and is the only state to surpass the 1 million threshold, according to the latest American Express analysis of U.S. Census Bureau data.
Sacramento Bee      4/12/2014

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