Page 38 - FDI Alliance International Magazine. Spring 2021 Digital Interactive Issue

STATE OF GOVERNOR

CALIFORNIA GAVIN NEWSOM

California is nicknamed, The Golden State and (GDP) of $2.3 trillion. It is home to more than 4 Angeles. Due to its sunny weather, it is ideal for
is located in the Pacific region of the United million small businesses. These small businesses filming conditions. When a movie or television
States. The capital is Sacramento and the are wet employed over 7 million people across show shoots on location it brings jobs, revenue
governor is Gavin Newsom. This state shares the state. Small businesses make up the majority and a boost to the local economy.
a border with Oregon, Nevada and Arizona. of the businesses within the state.
The most populated city is Los Angeles. Los Freight transportation is available by land, sea
Angeles is the nation’s second largest city and California has many Fortune 500 companies and air. Highways and trucks are one of the major
San Francisco is the 5th largest city. in their state. Some of these companies include arteries of California’s freight transportation
Apple, Google, McKesson, Chevron, Wells Fargo, system. Los Angeles International Airport is the
California is a great place to live because Hewlett Packard enterprises, HP, Facebook, Visa, world’s third busiest airport and the United
there are many things to do within the state. PayPal holdings, eBay, Netflix, Charles Schwab, States second busiest airport. The Port of Los
With its almost year-round sunny weather and Tesla, Mattel and Yahoo. Angeles is the largest in the country. The cargo
comfortable climate it can be a major attraction coming into the port represents about 20% of
to an employee moving from a colder weather Silicon Valley is a mecca for high technology, all cargo coming into the United States.
state. innovation, social media and venture capital.
This area has the highest concentration of Some advantages of doing business in California
Diversity plays a key roll in more ways than one. high-tech workers of any metropolitan area in include tax flexibilities. One of flexibilities include
There’s more diversity for women in business the United States. It is also attractive to several a capital gains exemption. Another advantage
thanks to a new law. The law states that all car manufacturers that want to capitalize on this is small business taxes. Different areas in the
board members of publicly traded companies tech savvy area. Several of the major groups of state also offer low corporate tax rates on small
headquartered in the state add at least one employers include education and health services, business income. There are multiple benefits when
woman. Not only is there diversity for women government, leisure and hospitality, professional registering a company in California. Shareholders
but there is also diversity for many races and and business services, government, trade, of a corporation can enjoy limited liability for their
cultures. California is a melting pot that joins transportation and utilities. debts or any judgments against their corporation.
cuisines, languages and traditions. Most of the They can only be held accountable if they have
state is made up of four different ethnic groups. An important sector in California’s economy investment in stock of the corporation. Another
These groups include African Americans, Asian is agriculture. The three largest agricultural benefit is the ability to raise any additional funds if
Americans, Hispanic Americans and Native products are milk, shelled almonds and grapes. required for the process of stock sales. As the owner
Americans. American wine production is most commonly of a California corporation, you may also remain
produced in California. There are over 1,200 anonymous. With its sunny weather, beautiful
The economy in California is stronger and bigger wineries in the state. Noted as the entertainment landscapes, diversified cultures, and tax flexibilities,
then before and it has a gross domestic profit capital of the world, Hollywood is an area of Los California is your golden ticket to business.

38. FDI ALLIANCE INTERNATIONAL