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 This material may not be published, broadcast, rewritten, or redistributed.)

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