California Business Minute™

The California Redevelopment Association, CRA provides legislative
advocacy, professional development and public education.  In support
of its members it responds to legislative proposals and administrative
regulations.

For further information, contact us www.calredevelop.org or at 916-448-8760

Hi, I am Tim Johnson and welcome to the California Business Minute.

The economy is changing, even beyond the current events of a financial crisis.
The National Governor's Association finished a report that illustrates a set of
qualitative and quantitative changes that are transforming our economy.

The report, The 2007 Sate New Economy Index: Benchmarking Economic
Transformation in the States sheds new light on an ever changing economy, 
they entitle the ‘New Economy’.  This refers to a set of qualitative and
quantitative changes specifically that have occurred in the last 15 years that
are transforming the structure and rules of the economy.

This New Economy is global, entrepreneurial and knowledge based. Where the
keys to success lies in the extent to which knowledge, technology and innovation
are embedded in products and services.

The report is very flattering to California.  It examines areas of knowledge jobs,
globalization, economic dynamism, digital economy, and innovative capacity. 
For example, the state ranks 10th in the category of IT jobs as a share of total
labor force in the nation.  California ranks 7th in the nation having the fastest
growing firm as a percentage of all business in the nation and it ranks first in the
nation related to patents
per capita.

I am Tim Johnson and this has been the California Business Minute.

To view the report, go to www.nga.org, see Center publications, 02-24-07