California is poised to overtake Germany as the world's fourth-largest economy, and continues to outpace the nation and other countries in GDP growth, business market value, renewable energy and more. Bloomberg assured.
The American financial advisory, software, data and stock media company specified in a report signed by Matthew A. Winkler that «contrary to popular belief, the ?Golden State? has proven resilient, outperforming its US and global peers."
To this, the governor Gavin Newsom responded that "while critics often say that California's best days are behind us, the reality proves otherwise: our economic growth and job creation continue to drive the nation's economy."
He added that California's values and entrepreneurship have fueled its rise to become the world's fourth largest economy, and “we will continue to double down on the industries of the future, such as renewable energy and clean energy. I take tremendous pride in California's resiliency, leadership, and our formula for success."
According to Bloomberg data, California outperforms the US and the rest of the world in many industries, especially those involving renewable energy, the fastest growing business in the state.
In turn, he stressed that the state's trajectory "is more transparent in the growing divergence between its 379 companies with a market value of at least one billion dollars."
“California tech hardware, media and software saw sales increase 63 percent, 95 percent, and 115 percent over the past three years, driving market valuations 184 percent, 54 percent and 58 percent," Bloomberg noted.
Similarly, he explained that job creation is a particularly strong area, “with unemployment falling 3.9 percent in July, the lowest level since data was collected in 1976… California unemployment fell below that of Texas".
Not long ago, Newsom implemented a $52 billion financial assistance package to help Californians with rising inflation and costs, making it the strongest and most comprehensive stimulus program in the nation, providing 26 billion dollars in direct payments, 15 billion in tax relief and grants for companies, among others.
As Bloomberg noted, renewable energy has become California's fastest growing business. During the current state administration, he has doubled down on clean energy and zero emission vehicles, implementing a $10 billion package to make it more affordable for Californians to buy Zero Emission Vehicles ?ZEVs? while building the state's charging infrastructure.
California now has six times as many clean energy jobs as fossil fuel jobs, and ZEVs have become one of the state's top exports.
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