Page 36 - FDI Alliance International Magazine. Winter 2020 Digital Interactive Issue.

GOVERNOR WELCOME TO

GAVIN NEWSOM CALIFORNIA

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

36. FDI ALLIANCE INTERNATIONAL