As California Goes, So Goes U.S.

by Jerri Hemsworth | January 20, 2018 3:00 pm

The New York Times recently reported interesting data. In a nutshell, California’s recent years of prospering has led the country in many economic ways.

The state accounts for 12% of the population, but has outperformed that (percentage-wise) in almost ever economic metric. Coming out of the great recession, in the years 2012 to 2016, California accounted for 17% of the growth in the U.S.

Industries in California have also flexed their muscles. Tech, shipping, and entertainment have also turn the tables to recovery faster in California that elsewhere. We find numerous California companies living on the Fortune 500 list. Most would know Apple, Wells Fargo, and Hewlett-Packard. But cities like Los Angeles are quietly the home of engineering and constructions behemoths such as CBRE Group, Aecom, and Reliance Steel & Aluminum.

Among other Fortune 500 companies in the state are companies like McKesson, Oracle, Disney, Facebook, Qualcomm, Gap, Western Digital, Mattel, Schwab, and, well, a few dozen more.

On downside noted is that with more success, California has a greater downside if the economy reverses, but let’s be happy we’re on the right side of this economy for now! •

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