Create More High Wages Jobs

California is rightly proud to be the fifth largest economy in the world that continues to produce massive and influential new companies especially in the technology space. But for too long, this has allowed us to ignore the weakness of our economy outside of a few urban centers as well as the erosion of the state’s manufacturing sector and other industries that produce high quality jobs. Building on the creation of the California Jobs First Program and Interagency Council, the state should track the contributions of the state’s major employers and the barriers to their growth as well as all of the rest of the data needed to support the creation of good, high wage jobs throughout the state. And it should reorganize all state departments that engage in economic development activities into a single agency. The New California Coalition will work to hold the state accountable as it develops a statewide economic resilience plan and will fiercely advocate for policies – such the restoration of a robust manufacturing tax credit and a better aligned workforce development system – that will translate these plans into better jobs and economies throughout the state.

By The Numbers

7 Million

California’s small businesses account for more than 98 percent of total businesses in the state and employ more than 7 million people – nearly half of the state’s private sector workforce. Our state leads the nation in business startups
Office of Gov. Newsom, Governor Newsom Proclaims Small Business Month 2024

57

For the first time since 2014, California has more Fortune 500 companies than Texas and New York. Our state is now home to 57 companies Fortune 500s.
Fortune, California beats out Texas and New York for the most Fortune 500 companies

500,000

Gov. Gavin Newsom said he would create 500,000 new apprenticeships in the decade after taking office.
CalMatters, Newsom set an ambitious goal to launch 500,000 Californians into new careers. Many are firefighters

3x

Since August 2022, jobs have grown three times faster in the US than in California
PPIC, Why Have US and California Jobs Numbers Diverged?

NCC Actions

Support entrepreneurs – especially from historically marginalized communities –to create jobs and wealth for their families and their neighborhoods and eliminate counterproductive regulations that stand in their way

Highly incentivize industries – such as manufacturing and especially technology manufacturing – that provide good, well-paying jobs as well as contribute greatly to national security and support large existing employers such as funding seismic retrofitting for California’s hospitals

Reinstate the Manufacturers Incentive Tax Credit and restore the Net Operating Loss deduction and other fiscal policies supportive of the creation and maintenance of high wage jobs

Support the appointment of a broad set of people with business expertise to boards such as the California Workforce Development Board, that make crucial decisions for the state, often without private sector input

NCC Task Force Recommendations

Our proposed solutions aim to help realize Governor Gavin Newsom’s goal of building 2.5 million more housing units by 2030. California's housing gap primarily impacts working, middle-class families. The ability to increase housing production that serves these hardworking Californians is dependent on three key factors:

- Acceleration of housing project entitlements and approvals.
- Reduction of the costs of construction to enable housing to be built at an affordable price to buyers and renters.
- Fixing the current local jurisdiction disincentives for building more housing.

Click here to download the full report.
NEWS
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