Newsom Introduces Plan To Jumpstart California’s Economy

SAN JOSE (KCBS) – Lieutenant Governor Gavin Newsom is releasing a plan to jumpstart California’s economic development and job growth, stepping to the forefront of a vital issue as his first major policy move since he was elected to statewide office.

Newsom presented his proposal Friday to hundreds of business executives at a day-long forum in the South Bay hosted by Wyse Technology and the Silicon Valley Leadership Group in San Jose.

KCBS’ Betsy Gebhart:

“This is not about some Lt. Governor.  Guys like me come and go and most of you never knew who was before me,” said Newsom.

“But it is about the future of the most magnificent experiment God has ever conceived and that is California.”

The report cites the state’s double-digit unemployment rate which is the second-highest in the nation, its persistent reputation for high taxes and burdensome business regulations, and the economic drag of the popped housing bubble.

“I’m sick and tired of being defensive about this state. I’m sick and tired of making excuses about this challenge, and I’m concerned unless something dramatic happens, that we’re gonna continue down this path of mediocrity,” he said.

Newsom’s proposing an economic growth and competitiveness agenda which focuses on expanding exports, the ‘green’ industry and new manufacturing.

Newsom praised Silicon Valley for its business and job innovation but said it’s not enough to bring the rest of the state’s economy along.

Fifty-two California counties have double digit unemployment.

(Copyright 2011 by CBS San Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

More from Betsy Gebhart
  • Milan Moravec

    University of California Berkeley wasteful, not transparent. Do something Newson as a member of the UC Board of Regents. University of California Berkeley Chancellor Birgeneau ($500,000 salary) has forgotten that he is a public servant, steward of the public money, not overseer of his own fiefdom. These are not isolated examples: recruits (uses California tax $) out of state $50,000 tuition students that displace qualified Californians from public university education; spends $7,000,000 + for consultants to do his & many vice chancellors jobs (prominent East Coast university accomplishing same 0 cost); pays ex Michigan governor $300,000 for lectures; in procuring a $3,000,000 consulting firm he failed to receive proposals from other firms; Latino enrollment drops while out of state jumps 2010; tuition to Return on Investment drops below top 10; QS academic ranking falls below top 10; only 50 attend Birgeneau all employees meeting; visits down 20%; NCAA places basketball program on probation, absence institutional control.

    It’s all shameful.

    • BOB

      Are you related to jimmy ???????????

blog comments powered by Disqus
Guide To The Holidays
Shine A Light On The Holiday Season With ‘Giving Tuesday’

Listen Live