California’s Strong Economic Week
The Californer/10277315

SACRAMENTO ~ Sacramento - California's economy continues to thrive with strong GDP growth, increased investments, and job creation. According to the U.S. Bureau of Economic Analysis, California remains the 5th largest economy in the world for the seventh consecutive year with a nominal GDP of nearly $3.9 trillion in 2023 and a growth rate of 6.1% since the previous year. Additionally, California boasts the second-largest per capita GDP among large economies.

In exciting news for the state's economy, Disney has announced plans to invest $1.9 billion in California through its DisneylandForward project. This investment is estimated to generate $1.9 billion in economic output and create over 7,800 jobs over four years through new construction. On an annual basis, the plan is expected to bring in $508 million and employ over 3,600 workers through operation. The Anaheim City Council has unanimously voted in favor of this plan, with a final vote scheduled for May 7th.

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Governor Gavin Newsom expressed his enthusiasm for Disney's investment in California, stating that it will further boost the state's economy and create more job opportunities.

In March alone, California added 28,300 new jobs - marking the seventh job gain in the last eight months across seven major industry sectors. This impressive job growth is a testament to California's strong economic standing.

Not only does California have a thriving economy, but it also boasts several top rankings nationwide. It has been named #1 for having the most equitable tax system in the country, #1 for new business starts, #1 for access to venture capital funding, and #1 for tourism spending.

With continued economic success and promising investments on the horizon, it is clear that California's economy shows no signs of slowing down anytime soon.

Filed Under: Government, State

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