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California has an enormous and highly diverse economy. With a gross state product close to a trillion dollars, it is one of the world’s largest economies. It accounts for about 13% of the nation’s total economic output. It ranked either second or first as a state headquarter of Fortune 500 companies in the past decade. It even beat New York in 2003 in the top list with 53 Fortune 500 companies. These companies have generated a total revenue of more than $763 billion. It is truly a centre of modernization and manufacturing expertise.

3 industries contribute in large part to California’s economy - advanced technology, manufacturing and international trade. These companies tend to pay better compensation than older industries, resulting to a higher average earning in the state.
The largest sector in the economy is the financial services sector. The second largest would be the manufacturing sector. Although the agriculture sector account for a small portion of the state’s total output, it leads the nation with its agricultural products sold for the past 10 years. California produces almost 90% of the nation’s grapes and almonds and 75% of its strawberries and lettuce. California is ahead when it comes to service exports combined with good exports. It is leading in the industry of exporting computers and electronic products. It continues to lead the nation and the world in major industries such as agriculture, information technology, biotechnology, entertainment and aerospace thriving in Northern California, Central Valley and Southern California. It has finally begun to regain its status as the nations most powerful economic machine.
California is not only a land of opportunities; it is also a place where you will find summer fun and winter adventure and a lot of both for the whole family. You can go picnicking in the wine country, golfing near Napa, snowboarding in Mammoth, rollerblading in Venice beach, Mountain biking in the Sierra, Fine dining at 21 Oceanfront in Newport Beach and a lot more. It is unique due to its size and demographic mix. With the state’s varied topography and abundance of arts and entertainment, beauty and recreation, history and culture, California is the perfect place to live!

This entry was posted on Saturday, March 29th, 2008 at 9:49 am and is filed under California, Economy, Market. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.