The 2024-25 Budget: Governor's Office of Business and Economic Development

Feb 20, 2024 - We estimate the Governor ’s budget predicts the state ’s 2024-25 budget will need to address a $58 billion deficit . In December, our office predicted a somewhat large deficit of $68 billion . Since then, recent data has continued to point to the budget problem being larger than the Governor’s budget assumes.
https://lao.ca.gov/Publications/Report/4846

The 2026-27 Budget: California Competes Extension [Publication Details]

Mar 18, 2026 - This post assesses the Governor’s proposal to extend the California Competes Tax Credit program.
https://lao.ca.gov/Publications/Detail/5162

The 2026-27 Budget: California Competes Extension

Mar 18, 2026 - All agreements between GO-Biz and credit recipients include a recapture provision: If a business fails to meet or maintain the job creation or investment milestones in their agreement, GO-Biz may disallow use of these credits or require repayment of credits already claimed.
https://lao.ca.gov/Publications/Report/5162

The 2022-23 Budget: Governor’s Office of Business and Economic Development Proposals

Feb 11, 2022 - Consequently, Visit California has increased its net assets from $20  million at the beginning of 2019 ‑20 to $58  million by the end of 2021 ‑22. Additional State Funding for Marketing Appears Unnecessary.
https://lao.ca.gov/Publications/Report/4529

The 2025-26 Budget: Governor’s Office of Business and Economic Development

Mar 18, 2025 - The Governor ’s budget proposes a one-time General Fund appropriation of $25  million in 2025-26 for GO-Biz to support capital expenditures incurred during the development of the DCF. After Natcast incurs these expenses, it could submit requests for reimbursement to GO-Biz until July 31, 2027.
https://lao.ca.gov/Publications/Report/5018

The 2025-26 Budget: Governor’s Office of Business and Economic Development [Publication Details]

Mar 18, 2025 - The Governor’s budget includes several proposals under the Governor’s Office of Business and Economic Development (GO-Biz). In this post we evaluate and provide recommendations for three of these proposals: California Competes Grants, California Regional Initiative for Social Enterprises Grant Program, and CHIPS.
https://lao.ca.gov/Publications/Detail/5018

The 2021-22 Budget: Business Tax Incentives

Jan 28, 2021 - GO ‑Biz Awarded Bigger Agreements to Fewer Businesses. In this round, GO ‑Biz negotiated credit agreements with four applicants. All four agreements were for relatively large amounts —between $5. 2  m illion and $29. 8  m illion.
https://lao.ca.gov/Publications/Report/4327

The 2022-23 Budget: Supply Chain and Port Infrastructure Proposals

Feb 15, 2022 - The grants would be administered by GO‑Biz. GO‑Biz is still developing this proposal, but it has suggested that the grant funding could be used to improve data interconnectivity between the ports to enable efficient cargo movement.
https://lao.ca.gov/Publications/Report/4540

California’s Low-Wage Workers and Minimum Wage

Mar 11, 2024 - To shed light on this issue, we next compare the statewide minimum wage to housing costs across California ’s 58 counties. Measuring Housing Affordability. To assess housing affordability for minimum-wage workers, we compare monthly earnings for full-time workers making the main minimum wage in each county to HUD ’s estimate of “fair market rent ” for housing in that county.
https://lao.ca.gov/Publications/Report/4878/3

Fixing Unemployment Insurance

Dec 2, 2024 - During the phase ‑in period, the state also entered the dot ‑com recession. These two cost pressures absorbed the remaining flexibility in the state ’s UI tax system. As  shown in Figure  4 , the state began this period in Schedule C but quickly moved to Schedule F+, the highest tax schedule, where it has remained since.
https://lao.ca.gov/Publications/Report/4943