POPULATION: 38,292,687 (Jan. 1, 2009)
LABOR FORCE: 18,500,600 (Aug. 2009)
RIGHT TO WORK: No
TRADITIONAL INDUSTRIES: Services, finance/insurance/real estate, manufacturing, retail trade, wholesale trade, construction, agriculture/food processing
EXPANDING INDUSTRIES: Green technology, high-technology, Internet/web-based industries, biotechnology, telecommunications, healthcare technology, multimedia, entertainment, environmental technology, information technology, diversified manufacturing, transportation/logistics, value-added agriculture
COLLEGE GRADUATES: (Age 25 and over) 27.0%
BASIC BUSINESS TAXES:
Corporate Income Tax: 8.84 percent of net income from California sources
Sales and Use Tax: 7.25 to 8.50 percent of receipts from sales or lease of taxable items, depending on county
Property Tax: Assessed and collected locally by county governments; some cities and special districts assess and collect their own taxes for purposes such as street improvements; average tax rate is 1.1 percent of fair market value
BUSINESS INCENTIVES:
California Employment Training Panel
Industrial development revenue bonds
R&D tax credits (15 to 24 percent)
Designated incentives:
- • Enterprise zones (42 statewide)
- • Recycling Market Development Zones
- • Foreign-trade zones
- • Manufacturing Enhancement Areas
- • Local Area Military Base Recovery Areas (LAMBRAs)
Small business:
- • Loan guarantee programs
- • Recycling
