Golden State Today

Governor Gavin Newsom continued his California Jobs First tour, receiving the North San Joaquin Valley's regional economic plan. This initiative is part of a broader strategy involving 13 regional plans that will form the California Jobs First Economic Blueprint. Newsom also provided an overview of the 2025-26 state budget, emphasizing a balanced spending plan aimed at enhancing government efficiency and accountability.

During his visit to Stanislaus County, Newsom engaged with community leaders from San Joaquin, Stanislaus, and Merced counties. The North San Joaquin Valley plan focuses on key sectors such as advanced manufacturing, clean economy, and bioeconomy. These sectors are expected to drive local economies by creating jobs and fostering innovation.

Newsom highlighted California's role in leading the American economy with localized economic plans for each region. He stated, "California is not only dominating but paving the way for the future of jobs and the American economy." The complete Economic Blueprint will be unveiled soon, along with a grant solicitation for $120 million in competitive funding to support projects aligned with strategic sectors.

The Governor's budget proposal amounts to $322.2 billion, including $228.9 billion in general fund spending. It forecasts $16.5 billion in additional revenue above the previous year's budget due to economic growth and improved cash receipts. The proposal includes savings from eliminating 6,500 government positions and operational efficiencies totaling $3.5 billion.

Despite these changes, core programs remain intact with continued investment in education and public safety initiatives like Universal Transitional Kindergarten and expanded school programs. The full budget release is scheduled for January 10, 2025.

California continues to hold its position as the world's fifth-largest economy with strong business growth indicators such as new business starts and access to venture capital funding.