Keeping California competitive
Recommendations on CA competitiveness and an examination of claims and realities of the CA economy, created by the McKinsey Global Institute:
"'A failed state.' 'A high-tech executive ghetto.' 'A draconian regulatory environment.' These are just a few of the unflattering media labels being attached to the State of California these days. And perceptions among the business community are no better: Forbes’ 2009 index of the 'best states for business' ranks California as number 38 overall, and in terms of business costs it comes in dead last.
There’s no disputing that California’s economic situation is grim. In the year since September 2008, services employment has shrunk 4%, and manufacturing employment has shrunk 9%, according to the Bureau of Labor Statistics (BLS). State public finances are in disarray, and public services have been severely cut.
Yet we think the pessimists are too quick to conflate the global economic downturn and California’s current fiscal difficulties with the loss of fundamental economic vibrancy. While the Golden State may have lost some of its luster, it remains an economic powerhouse..."