We're No. 8! Again.
California's economic recovery and the economic crisis in Europe should allow the state to regain its No. 8 ranking in the global economy, according to the Center for the Continuing Study of the California Economy.
Steve Levy, the Palo Alto-based organization's director, cited the latest data on California's $2 trillion economy and numbers from the World Bank to conclude that the state should stand alone in the No. 8 position behind the entire United States, China, Japan, Germany, France, United Kingdom and Brazil.
"In 2012 California, Italy and the Russian Federation were in a virtual tie for eighth through 10th place with a GDP of $2.0 trillion," Levy said. "The European recession and California's strong 2012 GDP growth allowed the state to catch Italy and move closer to France and the U.K. in 2012.
"California posted a real GDP gain of 3.5 percent in 2012, tied with Minnesota for the fifth-highest in the nation behind North Dakota, Texas, and California's northern neighbors, Oregon and Washington.
The U.S. GDP gain was a full percentage point lower at 2.5 percent ..."
Before the surges in China and Brazil, California was ranked as high as No. 6.
Gov. Jerry Brown signed legislation overhauling an enterprise zone program that has provided employers in designated areas large tax breaks. The legislation will significantly scale back hiring credits, instead providing a sales tax exemption for manufacturing and biotech research companies and other tax credits negotiated on a case-by-case basis with the administration.
"#FarmBill is typically 1 of most #bipartisan things we do but not today."
REP. JIM COSTA, D-Fresno, just one member of the California congressional delegation weighing in Thursday via Twitter on the House vote approving a farm bill without the food stamp program