California Ranks High in Innovative Ideas

Robert D. Atkinson September 9, 2014
September 9, 2014

An epicenter of the burst of the dot-com and the housing bubbles, California’s economy had a rough time during the 2000s. The state lost 40 percent of its manufacturing jobs, saw unemployment spike and faced severe budget challenges. However, indicators are finally pointing in the right direction. Unemployment is under 8 percent, the state has posted three straight years of manufacturing job gains, and California saw 3.5 percent GDP growth in 2012. The renewed strength of California’s entrepreneurial economy was recently highlighted in the 2014 State New Economy Index (SNEI).