Page 30 - FDI Alliance International Magazine Summer 2020 Digital Interactive Issue

GOVERNOR
GOVERNOR
GAVIN NEWSOM
BRIAN KEMP

STATE OF

CALIFORNIA

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

30. FDI ALLIANCE INTERNATIONAL