The 2022-23 Budget: Governor’s Office of Business and Economic Development Proposals

Feb 11, 2022 - Tourism is an important industry in the state that was impacted by the COVID ‑19 pandemic to a greater extent than many other sectors of the state ’s economy. While total consumer spending in California declined by 4  percent in 2020, Visit California estimates that direct travel ‑related spending declined by 55  percent.
https://lao.ca.gov/Publications/Report/4529

The 2022-23 Budget: Fuel Tax Rates

Feb 11, 2022 - (We provide additional information about gasoline taxes at https://lao.ca.gov/Transportation/FAQs .) State Adjusts Fuel Excise Taxes Annually. Under current law, the state adjusts its fuel excise tax rates on July 1 every year.
https://lao.ca.gov/Publications/Report/4528

The 2026-27 Budget: California Competes Extension

Mar 18, 2026 - Figure  3 shows how credits have been allocated across sectors over the last five years. Of the $1.2  billion in awards made between 2021 and 2025, around $650  million, or over half, has been allocated to businesses in advanced manufacturing.
https://lao.ca.gov/Publications/Report/5162

The 2025-26 Budget: Governor’s Office of Business and Economic Development

Mar 18, 2025 - Funding another round of California Competes grants could create jobs at a time when private sector job growth has been sluggish. However, we suggest weighing the expansion of these economic development efforts against other budget priorities.
https://lao.ca.gov/Publications/Report/5018

The 2025-26 Budget: California’s Film Tax Credit

Feb 28, 2025 - For example, estimates of local employment multipliers, which attempt to measure the total increase in local jobs due to investment in specific industries, find that motion picture, video, and sound recording have roughly average multipliers compared to other sectors.
https://lao.ca.gov/Publications/Report/5000

Evaluating State Economic Stimulus Proposals

Feb 1, 2021 - An increase in public spending may also “crowd in ” (encourage) or crowd out (displace) some private ‑sector spending and investment. Such private sector responses further affect the size of the multiplier.
https://lao.ca.gov/Publications/Report/4331

The 2021-22 Budget: Business Tax Incentives

Jan 28, 2021 - These adverse effects have been especially severe for businesses in the travel, retail, food and hospitality, health and wellness, and personal care services sectors. The CAEATFA exclusion offers assistance primarily to the manufacturing sector, which has not been among the hardest ‑hit sectors of the economy.
https://lao.ca.gov/Publications/Report/4327

The 2022-23 Budget: Temporary Limits on Business Tax Provisions

Jan 26, 2022 - The  figure also shows the use of NOL deductions by corporate taxpayers across industry sectors. In 2019, for example, 619 taxpayers operating in the manufacturing industry had more than $1  million in income and deducted $3  billion in NOLs in total.
https://lao.ca.gov/Publications/Report/4500

The 2018-19 Budget: California Competes Proposal

Feb 21, 2018 - In our review of the program, we found that about 35  percent of the total number of awards —about 15  percent of the dollar value —were awarded to businesses in the ”non-tradable ” sector of the state ’s economy.
https://lao.ca.gov/Publications/Report/3759

Assessing Recent Changes to California Competes

Mar 30, 2020 - Prior to 2018, GO ‑Biz awarded about 35  p ercent of the total number of tax credit agreements —about 15  p ercent of the dollar value —to businesses in the non ‑tradable sector of the state ’s economy.
https://lao.ca.gov/Publications/Report/4213