California Leads in Business Profitability

California offers unparalleled business advantages to companies seeking the optimal business location. California’s critical mass of intellectual capital, financial acumen, business services, transportation systems, and market access enhance the corporate mission. These unique assets make it the most efficient place to do business and the most profitable place to do business in the world.

California is uniquely positioned to connect employers to workforce development services through agencies offering businesses site selection, employment, education, training, and loan assistance provided through local, state, and federal programs. Other services include focused recruitment, labor market information, and Internet-based job listing service.

California is the Innovation Capital of the World

California has the innovative culture, infrastructure, and demographics necessary for success. Not only is California the home of Silicon Valley, but it’s also the leading state in scientific and medical advancements. The entrepreneurial spirit is strong, with 141 business startups for every 100,000 residents in the state. This is due, in part, to the billions of dollars of venture capital available to California entrepreneurs and to California’s culture of supporting new businesses.

While tech industry giants, such as Apple, Uber, and Tesla, lead the way, entrepreneurs are showing up in multiple industries, such as aerospace, agriculture, clean energy, and healthcare. Innovators are utilizing technological advancements to change the way things are done in every industry. California has a strong legacy of being at the forefront of new discoveries and it continues to hold that distinction.

Reasons Why California is the Place for Business

California’s economy is growing. It thrives due to industrial growth, access to a large and productive workforce, strong transportation network, and a market of 39 million consumers. California has been ranked best in the U.S. for higher education.

Job growth is booming in California.  As of 2021, the Golden State has 53 Fortune 500 headquarters. California companies are 2,156% more profitable than Texas companies and 38% more profitable than New York companies. This profit amount includes California state taxes and regulations. The new California tax credit has made it possible for companies to place production facilities as well as headquarter offices in California, while California delivers a steady stream of talent.