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’s economy leads again, grows another 5% in 2025 to record $4.25 trillion GDP
News What you need to know: California’s economy continues to dominate, growing 5% to reach a record nominal GDP of $4.25 trillion in 2025. California outperformed every other state in the nation — continuing a 16-year growth streak, growing faster than the...
California celebrates Genentech’s 50th anniversary
News SAN FRANCISCO – Governor Gavin Newsom today celebrated Genentech, the California-based biotechnology giant, which was founded 50 years ago today in San Francisco, California on April 7, 1976 — and quickly created a whole new industry. Within just a few years from...
ICYMI: Bloomberg News: How California’s economy dominates in the Gavin Newsom era
News Under Newsom, California became the top performing economy not just among its 49 siblings but also any developed nation — Bloomberg News California isn’t just keeping up, it’s outgrowing major global economies.It drives over 40% of U.S. stock market growth with...
