Economy
California is the 5th largest economy in the world. It’s a powerhouse built by our people. Here’s how we’ll ensure economic opportunities reach all Californians.
Creating jobs
California Jobs First will create more good-paying jobs, faster. It is a first-of-its-kind model that streamlines the state’s workforce development. It will guide investments in job creation, industrial strategy, and economic development.
Lowering costs
We’re making California more affordable to more people. Governor Newsom is doing that by focusing not only on the needs of businesses, but also on the needs of workers. California has been the place where the middle class dream is achievable. We’re taking action to make that dream an affordable reality today.
Unlocking the freedom to succeed
California is preparing students for the workforce of tomorrow. We’re helping them build skills, leading to high-paying and fulfilling careers — even without a college degree. That’s giving people the freedom to succeed.
Getting job training for Californians
Californians are learning the new skills they need for good-paying jobs. The Governor is creating:
- more apprenticeship opportunities,
- new career pathways for young Californians,
- better access to training programs for farmworkers, and
- support for former oil and gas workers.
Investing in business innovation
We’re doubling down on our investment in California’s innovation and entrepreneurial ecosystem. We fuel this by creating policies that support big thinkers and job creators. Governor Newsom is cutting bureaucratic red tape. And he’s keeping business here with billions in tax relief and grants.
News about the economy
Governor Newsom extends state property tax deadlines for LA firestorm communities until April 2026
News What you need to know: Governor Newsom has suspended penalties and interest on late property tax payments for a year, effectively extending the state property tax deadline, for those living in communities impacted by the Los Angeles firestorms. LOS ANGELES —...
California to provide tax relief to businesses impacted by Los Angeles wildfires
News What you need to know: In response to the recent wildfires, the state has extended the January 31, 2025, sales and use tax filing deadline for Los Angeles County taxpayers until April 30, 2025. SACRAMENTO – Governor Newsom today announced that the California...
Governor Newsom sends 2025-26 budget plan to Legislature
News What you need to know: Governor Newsom’s balanced budget proposal for the 2025-26 fiscal year includes increased savings to the state’s reserves while maintaining important investments in critical priorities such as wildfire prevention, public safety, housing,...
