Kish Rajan Director

California Governor’s Office of Business and Economic Development (GO-Biz)

What is GO-Biz

- State’s Lead for Job Creation and Economic Development Efforts

- Governor Brown’s Jobs Team

- CA’s Statewide Retention, Expansion and Relocation Team

- International Trade and Investment Lead

- Innovation and Entrepreneurship Lead

GO-Biz Organization

Also Includes:

- California Competes Tax Program

- California Film Commission

- Visit California

- Infrastructure and Economic Development Bank (iBank)

- CA-China Office of Trade and Investment -Shanghai

GO-Biz 2013 HIGHLIGHTS

- Revamped State Approach to Economic Development

- $780M for CA Competes Tax Credits

- Opened Trade Office in Shanghai

- Created Four New Innovation Hubs

- Expanded New Companies Across the State

California Economy

U.S. Leader in Job Creation:

- CA added more private sector jobs in 2013 than any other state incl. TX. (319K)

- #3 State for Job Growth

- 8.0 % unemployment – 5 year low

- Recovered 97.7 % of jobs lost

- 8th Largest Economy in the World

PRIORITIES FOR 2014

- Improving the Business Climate

- Accelerating Regulatory Modernization

- Applying New Economic Tools (GEDI)

- Expanding International Presence

- Integration of Economic Development and Workforce Development

- Addressing California’s Uneven Recovery

NEW ECONOMIC TOOLS- Governor’s Economic Development Initiative:

- Sales and Use Tax Exemption

- Hiring Credit

- CA Competes Program

GO-Biz Competitive Tax Credit Program for Businesses that want to expand or relocate to California.

IMPORTANT UPCOMING DATES

- April 14th: APPLICATION CLOSED

- June 19th: First CA Competes Selection Committee Hearing

- July 1st: GO-Biz to Allocate $30M in Tax Credits

- FY 2014-15: Additional $150 Million available for Cal Competes

#CALCOMPETES

WORKFORCE DEVELOPMENT

- Integration of Economic Development and Workforce Development

- ‘Slingshot’ Initiative = Accelerate California’s economic engine through collaborative efforts by education, economic development, and workforce

- Creating regionally-driven solutions to regionally-identified problems

Kish Rajan Director

California Governor’s Office of Business and Economic Development (GO-Biz)

(916) 322-0694