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California’s Strong Economic Week

SACRAMENTO – With continued GDP growth, more investments, and new jobs, California’s economy had a strong week:

California remains the 5th largest economy in the world. California is the 5th largest economy in the world for the seventh consecutive year, with a nominal GDP of nearly $3.9 trillion in 2023 and a growth rate of 6.1% since the year prior, according to the U.S. Bureau of Economic Analysis. California’s per capita GDP is the second largest amongst large economies.

Disney is set to invest $1.9 Billion in CaliforniaDisneylandForward is estimated to generate $1.9 billion in economic output and create over 7,800 jobs over four years through new construction in California. Annually, the plan will generate $508 million and employ over 3,600 workers through operation. The Anaheim City Council unanimously voted in favor of the plan, with a final vote set to take place on May 7th.

Governor Newsom on Disney’s Announcement

The state created more than 28,000 jobs in March. California added 28,300 new jobs last month – the state’s seventh job gain in the last eight months, while seven of the state’s major industry sectors gained jobs.

California, which has the most equitable tax system in the entire country, is #1 in the nation for new business starts, #1 for access to venture capital funding, and #1 for tourism spending.