AccomplishmentsUnder the Davis Administration, California has dramatically strengthened its role in the global marketplace, surpassing France and Italy to become the fifth largest economy in the world.
Economy: Trade and Commerce
Governor Davis has worked with nations around the globe to expand international trade, including meeting with the leaders of Canada, the Dominican Republic and Baja California, and has visited with Vicente Fox regularly since his inauguration as Mexico's president.
California's international exports increased 25 percent during the first two years of the Davis Administration, reaching a record high of $119.6 billion in 2000. Foreign companies have invested over $120 billion in the state, making California the nation's number one destination for foreign capital. Over 737,600 jobs in California are dependent on foreign businesses, more than in any other state. The export market creates even more career opportunities for Californians, supporting over 1.5 million jobs.
The Governor has:
• Led a business development mission to Europe and the Middle East.
• Strengthened California's international ties by signing and/or renewing memorandums of understanding (MOUs) with several key partners: the German state of Bavaria, Singapore, Israel and Scotland. Recently, Governor Davis signed a historic agreement between California and Armenia to enhance trade and investment. Since he took office, exports to Armenia have nearly quadrupled.
• Overseen the opening of California trade and investment offices in Shanghai, Singapore, and Argentina. These offices have facilitated over $16 million in exports.
• Signed legislation requiring the Technology, Trade and Commerce Agency's Office of Export Development (OED) to develop a Rural Strategy to facilitate trade from the state's agricultural heartland.
Since Governor Davis took office:
• Trade with Mexico increased 32 percent, reaching a record high of $17.5 billion in 2000.
• Exports from California to China have grown at a rapid rate, increasing by 32 percent from 2000-2001 and are on track to expand by over 10 percent in 2003.
California in the International Economy
• California is the largest U.S. exporting state to Asia and the European Union.
• California exports account for over 13 percent of total United States exports.