Antonio Ray Harvey
Gov. Newsom Touts California Economic Success
In a 20-minute interview on Oct. 10, Gov. Gavin Newsom said California’s economy is in great shape due to achievements in certain areas. The Governor was speaking at the 2024 California Economic Summit event hosted by California Forward in Sacramento. It was attended by more than 100 leaders from industry, community, and the private, public, and nonprofit sectors.
By Antonio Ray Harvey
In a 20-minute interview on Oct. 10, Gov. Gavin Newsom said California’s economy is in great shape due to achievements in certain areas.
The Governor was speaking at the 2024 California Economic Summit event hosted by California Forward in Sacramento. It was attended by more than 100 leaders from industry, community, and the private, public, and nonprofit sectors.
“It is an exciting and dynamic time,” said Newsom. “Thirty-two of the top 50 AI companies are all here in California. We dominate in tourism – record breaking tourism last year.”
“It isn’t by accident that California is an economic powerhouse,” Newsom continued. “Whether it be around education, infrastructure, or immigration, we’re following a formula for success.”
In Newsom’s overview of the state’s economy, he didn’t include why two companies decided to leave for the state of Texas. SpaceX and Chevron announced their departures over the summer.
Billionaire Elon Musk is moving the headquarters of his companies X and SpaceX from San Francisco to Texas. After 140 years of doing business in California, Chevron is heading to the southwestern state as well.
Chevron employs 2,000 workers in San Ramon. It operates crude oil fields, technical facilities, two refineries, and services more than 1,800 retail stations in California.
“There will be minimal immediate relocation impacts to other employees currently based in San Ramon. The company expects all corporate functions to migrate to Houston over the next five years. Positions in support of the company’s California operations will remain in San Ramon,” Chevron shared in an Aug. 2 press release.
