Golden State Today

Fortune announced that for the first time since 2014, California is home to the most Fortune 500 companies in the country, surpassing Texas, Florida, and other states. The state’s diverse economy now includes 57 companies on the list, while Texas and New York are tied for second place with 52 companies each.

California hosts a significant number of leading AI companies, high-impact research institutions, and holds a substantial share of technology patents and conference papers. The state ranks first in new business starts, access to venture capital funding, manufacturing, high-tech industries, and agriculture.

Governor Newsom recently announced that California's travel spending reached an all-time high of $150.4 billion last year. This follows an increase in the state's population for the first time since the pandemic. Additionally, the International Monetary Fund’s World Economic Outlook highlighted that California remains the fifth largest economy globally for the seventh consecutive year. According to the U.S. Bureau of Economic Analysis, California had a nominal GDP of nearly $3.9 trillion in 2023 with a growth rate of 6.1% from the previous year. The state's per capita GDP is also among the highest for large economies.