The Golden State Is Showing Some Tarnish

Congratulations are in order for the great state of California. In a recent CNBC.com survey ranking "Amercia's Top States For Business", California did not come in dead-last (that honor was reserved for one of our North Western neighbors). No, California came in 32nd - almost catching Arkansas (#31), and just staying ahead of Pennsylvania (#33).

The survey ranked each state based on a number of categories ranging from Cost of Doing Business (California ranked #49) to Access to Capital (California ranked #1).

Some more interesting information regarding our great state:

• California's projected Budget Gap ($53.7 Billion) is far and away the largest in the nation


• Our unemployment rate (11.6%) is the 5th highest in the nation


• The $11 Billion of Federal Stimulus funds that have been paid out to California is the most paid out to any state (in fact the next closest state is New York, with just over $5 Billion)
  

Bragging rights for the best state for business goes to Virgina, and the worst state for business in the nation... Alaska.

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Update on the Stimulus Front

Lots of chattering in the news about whether the Stimulus (formally known as the American Recovery and Reinvestment Act of 2009) is working. I can tell you that I am currently working on a "nice" project that is Stimulus funded, so from my perspective it is working!

Here is a broader picture:

map of current Stimulus funding in California

Approximately $85 BILLION in funding has flowed through to California, with a good portion of that money ending up in the San Francisco Bay Area. Is the money stimulating job creation? Again from this small corner of the country - YES... my clients are hiring fast (they have 30 days to put butts into seats once they receive their funding).

To see specifically whats happening in California - click (HERE).

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