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MINUTES
CALIFORNIA BUSINESS MINUTE CALPERS and the States Economy 10-16-07
Hi, I am Tim Johnson and welcome to the California Business Minute.
According to a report by Sacramento State University researchers, the California Public Employees Retirement Systems, CALPERS, a $247 billion fund, the nations largest pension fund, provided a $15 billion impact on the states economy in 2006.
The report identified that CALPERS had directly invested $8.3 billion in projects in the state, thus through direct, indirect and induced values, it had a total impact of $15.1 billion helping create 124,000 jobs.
More than 50 percent of the funds direct investments were in private development, 29 percent was in stocks and 11 percent was in construction related partnerships.
The Los Angeles region had the largest investment with $2.2 billion followed by San Francisco with $1.6 billion; San Diego received $577 million; Inland Empire $372 million; Sacramento $288 million and the rest was distributed across the Central Valley and Coast as well as Northern California.
I am Tim Johnson and this has been the California Business Minute.
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