Economy
California is the 5th largest economy in the world. It’s a powerhouse built by our people. Here’s how we’ll ensure economic opportunities reach all Californians.
Creating jobs
California Jobs First will create more good-paying jobs, faster. It is a first-of-its-kind model that streamlines the state’s workforce development. It will guide investments in job creation, industrial strategy, and economic development.
Lowering costs
We’re making California more affordable to more people. Governor Newsom is doing that by focusing not only on the needs of businesses, but also on the needs of workers. California has been the place where the middle class dream is achievable. We’re taking action to make that dream an affordable reality today.
Unlocking the freedom to succeed
California is preparing students for the workforce of tomorrow. We’re helping them build skills, leading to high-paying and fulfilling careers — even without a college degree. That’s giving people the freedom to succeed.
Getting job training for Californians
Californians are learning the new skills they need for good-paying jobs. The Governor is creating:
- more apprenticeship opportunities,
- new career pathways for young Californians,
- better access to training programs for farmworkers, and
- support for former oil and gas workers.
Investing in business innovation
We’re doubling down on our investment in California’s innovation and entrepreneurial ecosystem. We fuel this by creating policies that support big thinkers and job creators. Governor Newsom is cutting bureaucratic red tape. And he’s keeping business here with billions in tax relief and grants.
News about the economy
California Jobs First: CalCompetes program reaches $50 billion of private investment in the state
Jun 14, 2024
News What you need to know: As part of the California Jobs First initiative, CalCompetes invests in innovative companies to stay, relocate to or grow in California, creating family-supporting jobs in cutting edge industries all throughout the state. SACRAMENTO – The...
ICYMI: California is now home to the most Fortune 500 companies in the country
Jun 4, 2024
News SACRAMENTO – Fortune today announced that for the first time since 2014, California is home to the most Fortune 500 companies in the country – beating out Texas, Florida, and all other states. From tech to finance to entertainment, the state’s diverse economy has...
California submits proposal to increase federal financial aid access for more community college students
Jun 3, 2024
News What you need to know: From California’s Master Plan for Career Education, to the community colleges’ Guided Pathways framework and dual enrollment strategies, the state is increasing higher education and workforce opportunities for more Californians. SACRAMENTO...
![Governor reaching out to shake the hand of a construction worker with a crowd behind.](https://www.gov.ca.gov/wp-content/uploads/2024/04/economy-banner.png)