artificially boost their numbers<\/a>, California stands on its own as the leader nationwide. In addition to year-over-year gains, California also stood atop the four largest state economies in the 4th quarter of last year, posting the largest dollar increase at $44.5 billion, more than New York, Texas, and Florida.<\/p>\n*Bless your heart, Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, North Carolina, Oklahoma, South Carolina, Tennessee and Texas.<\/p>\n
California\u2019s growth and economic output dominate.<\/p>\n
The data supporting California\u2019s dominance continues to pour in. Here\u2019s what Bloomberg recently reported:<\/p>\n
\u2705 After Newsom took office in January 2019, California\u2019s gross domestic product surged 40% to more than $4 trillion, accounting for 14% of all US output. This outpaced major economies, including China (expanded 32%) and Germany (expanded 16%).<\/p>\n
\u2705 California drove 40%+ of the growth in value of the nation\u2019s publicly traded equities, despite being less than 12% of the entire U.S. population.<\/p>\n
\u2705California companies are thriving since 2019 \u2013 spending $527 billion annually on acquisitions, almost three times the $179 billion spent annually in the 20 years prior to 2019.<\/p>\n
California is a talent pipeline.\u00a0<\/p>\n
\u2705 California produces the talent fueling its growth, with more than 600 colleges and universities \u2013 more than any other state.<\/p>\n
\u2705California has the highest density of higher education to create a top talent pipeline, with one college or university for every 64,000 citizens, more than the UK and Germany.\u00a0<\/p>\n
\u2705California produces more engineers than any other state.<\/p>\n
California\u2019s industries are fueling the nation.<\/p>\n
According to Bloomberg, here are the industries contributing to California\u2019s economic dominance:<\/p>\n
\u2705Technology firms\u00a0based in California lead the nationwide industry with 41 companies producing a 603% total return over the past decade. That\u2019s four times the gain of their global peers in the past two, three and five years.\u00a0<\/p>\n
\u2705Innovation, with California making up 62% of all U.S. venture capital funding and 31.5% of all venture capital deals last year.\u00a0<\/p>\n
\u2705Health care\u00a0contributed 52% to California\u2019s GDP since 2019, and despite MAGA attacks on the industry, its uninsured rate declined to a record-low 6.4% in 2023, the largest drop in the US, from more than 17% a decade ago.<\/p>\n
\u2705\u00a0Infrastructure and trade\u00a0keep the U.S. economy moving due to this administration\u2019s infrastructure investments. California\u2019s Port of Los Angeles alone handles more than $300 billion of cargo annually.<\/p>\n
\u2705\u00a0Clean energy and clean transportation\u00a0are helping California maintain its future-facing dominance with its largest eight clean energy companies seeing the value of their stocks appreciate an average 56% since 2019, compared to 40% for their global peers.<\/p>\n","protected":false},"excerpt":{"rendered":"Success under the Newsom administration Since 2019, when Governor Newsom took office, California\u2019s GDP has grown by $1.182…\n","protected":false},"author":2,"featured_media":260684,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[7,9,8],"class_list":{"0":"post-260683","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-california","8":"tag-california","9":"tag-california-headlines","10":"tag-california-news"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/260683","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/comments?post=260683"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/260683\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media\/260684"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media?parent=260683"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/categories?post=260683"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/tags?post=260683"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}