Executive Summary: International trade arid foreign investment serve as critical components of California's $2.0 trillion economy. If California were a country, it would be the 17th largest exporter and the 14th largest importer in the world. Exports from California ($162 billion) accounted for over 10.5% of total U.S. exports in goods, shipping to over 220 foreign destinations in 2012. California's land, sea, and air ports of entry serve as key international commercial gateways for the $537 billion in products entering and exiting the U.S. Statewide, 4.4 million California jobs are dependent on foreign trade. Over 562,700 California workers benefit from jobs with foreign-owned firms, which accounts for 5.1% of all private sector jobs in the state. Trade and foreign investment support new job creation, bring new technologies and skills to California workers, generate local and state revenues, and generally strengthen the state's economic base.
On Wednesday, November 6, 2013, the Assembly Committee on Jobs, Economic Development, and the Economy (JEDE Committee) is holding an oversight hearing on the role of international trade and foreign investment on the regional economy of the Inland Empire.
During the course of the hearing, testimony will be provided by economic development experts, business leaders, and other important regional stakeholders. The purpose of this report is to provide a context for these presentations and offer possible recommendations for further actions.
Assembly Committee on Jobs, Economic Development and the Economy, "The Role of Trade and Foreign Investment on the Inland Empire's Regional Economy" (2013). California Assembly. 209.