California s Business Climate: Is It Getting Better?

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2 California s Business Climate: Is It Getting Better?

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4 Polling Questions

5 What s the most important factor in making California become a more business friendly state? 1. Pass reforms to reduce health care, worker s comp and unemployment insurance costs 2. Reduce bureaucracy and burdensome regulations 3. Give tax incentives to small businesses 4. Cutting Taxes

6 What do you think will be the long term effect of outsourcing on CA s economy? 1. Fewer opportunities for high-skilled workers 2. Decrease in employment 3. Gains in productivity 4. Reduced costs to consumers 5. New job creation

7 What is the most important issue facing California? 1. Controlling California s finance---ca has the largest deficit in the U.S. 2. Growing technology & science---ca may invest $3 billion in stem-cell research 3. Improving its business climate ---CA has the 2 nd highest cost of doing business in the U.S. 4. Port Infrastructure---LA Customs District 2-way trade will exceed $270 billion in 2004

8 How do you feel about the future of CA s economy over the next decade? 1. Very optimistic---ca grows 1% or faster than U.S. 2. Somewhat optimistic---ca grows 0.1% - 1% faster than U.S. 3. Neutral---CA s growth matches U.S. growth 4. Somewhat pessimistic---ca grows 0.1% - 1% slower than U.S. 5. Very pessimistic---ca grows over 1% slower than U.S.

9 Least Expensive Second Tier Third Tier Most Expensive Cost of Doing Business Composite Index, 2003

10 Cost of Doing Business Most Expensive States, 2003 Rank State Index 1 Hawaii California Connecticut Massachusetts New York New Jersey Delaware Washington Virginia Michigan 106.5

11 Least Expensive Second Tier Third Tier Most Expensive Cost of Doing Business Wage Cost Index, 2003

12 Wage Cost Most Expensive States, 2003 Rank State Index 1 Connecticut New York New Jersey Massachusetts California Illinois Maryland Delaware Washington Michigan 103.7

13 Least Expensive Second Tier Third Tier Most Expensive Cost of Doing Business Tax Burden Index, 2003

14 Tax Burden Most Expensive States, 2003 Rank State Index 1 Hawaii Vermont W. Virginia Delaware Arkansas Kentucky Minnesota New Mexico Michigan Wyoming California 111.3

15 Least Expensive Second Tier Third Tier Most Expensive Cost of Doing Business Electricity Cost Index, 2003

16 Electricity Cost Most Expensive States, 2003 Rank State Index 1 Hawaii California Maine Vermont New Hampshire Massachusetts Alaska New York Connecticut Rhode Island 132.5

17 Cost of Doing Business Office (Real Estate) Cost Index, 2003 Least Expensive Second Tier Third Tier Most Expensive

18 Office (Real Estate) Cost Most Expensive States, 2003 Rank State Index 1 New York Illinois Massachusetts Washington California Hawaii Georgia Minnesota Virginia Nevada 121.0

19 Cost of Doing Business Industrial (Real Estate) Cost Index, 2003 Least Expensive Second Tier Third Tier Most Expensive

20 Industrial (Real Estate) Cost Most Expensive States, 2003 Rank State Index 1 Hawaii Virginia Maryland Connecticut California Massachusetts Washington Arizona New Jersey New Mexico 117.2

21 Cost of Doing Business Index California vs. Texas and Florida, 2003 (U.S.=100) Category California Texas Florida Wage Cost Tax Burden Electricity Industrial Office Overall Business Cost

22 Index U.S.= Western States 2003 Cost of Doing Business Index Cost of Doing Business (L) Manufacturing Share of GSP (R) Percent Utah Oregon New Mexico Arizona California 5

23 Index U.S.= Expensive States 2003 Cost of Doing Business Index Cost of Doing Business (L) Manufacturing Share of GSP (R) Percent Hawaii California Massachusetts Connecticut New York 0

24 Index U.S.= Inexpensive States 2003 Cost of Doing Business Index Cost of Doing Business (L) Manufacturing Share of GSP (R) Percent South Carolina Oklahoma Indiana North Carolina Ohio 0

25 Percent Change 5 Change in Tax Burden Index Western States, Washingon Nevada Oregon Arizona New Mexico Colorado California Utah

26 Percent California United States Total Tax Burden California vs. United States

27 Percent Change Change in Wage Cost Index Relative to U.S., Nevada Utah California New Mexico Oregon Arizona Colorado Washington

28 State Competitiveness Index Beacon Hill Institute, 2003 Most Attractive Second Tier Third Tier Least Attractive

29 State Competitiveness Index California Rankings, 2003 Rank Among States Sub-Indexes (1=Best, 50=Worst) Government & Fiscal Policy 44 Environmental Policy 38 Finance 30 Security 28 Human Resources 24 Infrastructure 13 Technology 9 Openness 9 Domestic Competition 8 Overall Competitiveness Index 19

30 Small Business Survival Index Small Business Survival Committee, 2003 Least Expensive Second Tier Third Tier Most Expensive

31 Small Business Survival Index California s Rankings, 2003 Rank Among States Index Components (1=Best, 50=Worst) Electric Utilities 49 Capital Gains Tax Rate 48 Gas Tax 48 Personal Income Tax Rate 47 Workers' Comp. 45 Corporate Income Tax Rate 40 Sales Tax 28 Crime Rate 22 Health Care Costs 14 Property Taxes 13 Bureaucrats 7 Unemployment Tax 1 Overall Small Business Survival 46

32 Outsourcing? About 60% of Relocations from CA are to Other States 100% Other Int Canada Asia (other) India Rest of US Other Western States Texas Job Destination

33 California Regulatory Environment Bain Regulatory Hassle Index

34 Competitiveness of Existing Business California Rankings, 2003 Rank Business Vitality Sub-Index Among States (1=Best, 50=Worst) Traded Sector Strength 11 Industrial Diversity 21 Manufacturing Investment 35 Business Closings 41

35 Entrepreneurial Energy California Rankings, 2003 Rank Business Vitality Sub-Index Among States (1=Best, 50=Worst) New Business Job Growth 1 Technology Jobs 5 New Companies 9 Initial Public Offerings 12 Change in New Companies 13

36 Cost of Doing Business Most Expensive Metros, 2004 Rank Metropolitan Area 1 New York, NY 2 Boston, MA 3 San Diego, CA 4 Los Angeles, CA 5 Fresno, CA 6 Oakland, CA 7 Riverside, CA 8 Bakersfield, CA 9 Sacramento, CA 10 Orange County, CA

37 Costs of Running a Tech Business Annual Costs for 125-employee Tech Business San Francisco ($ Ths.) Sacramento ($ Ths.) Sioux Falls ($ Ths.) Labor $9,890 $9,053 $7,687 Electric Power $86 $77 $24 Office Rent $963 $770 $595 Equipment Amortization $896 $896 $896 Heating/Air Conditioning $47 $75 $38 Corporate Travel $245 $173 $141 Total $12,126 $11,044 $9,381

38 Workers Comp. Average Insurer Rate California, Rate Per $100 of Payroll

39 Workers Comp. Costs Still Rising California, Percent Change CA - Worker' Comp. Medical per Indemnity U.S. - Medical Services CPI

40 Annual Growth in Priv. Health Ins. Premiums As Reported by Employers Percent Change, Year Ago California United States

41 US$ Monthly Insurance Premiums Single Enrollee in Group Health Plan, 2003 California United States All Plans HMO PPO POS

42 US$ 55 Average Price of Prescriptions Western States, Oregon Utah Nevada New Mexico Colorado Arizona California

43 Congestion Cost 2004 Urban Mobility Report California Metro Area Rank Los Angeles-Long Beach-Santa Ana $11.2 Bill. 1 San Francisco- Oakland $2.8 Bill. 4 San Diego $1.3 Bill. 13 San Bernardino-Riverside $904 Mill. 19 San Jose $871 Mill. 20 Sacramento $526 Mill. 25

44 Annual Hours of Delay Per Traveler 2004 Urban Mobility Report California Metro Area Rank Los Angeles-Long Beach-Santa Ana San Francisco- Oakland San Bernardino-Riverside San Jose San Diego Sacramento

45 Percent Change California's Job Growth Percent Change, July 2003 to July 2004 California US -10 Labor Force Employment Unemployment

46 Percent Unemployment Rate California vs. U.S. California United States

47 Percent Unemployment Rate in August California and U.S., August August 2004 California United States

48 Job Gains 20 Months After Recession Ends United States Percent Change in Non-Farm Jobs

49 Employment Growth Non-Farm Establishment Data, 1994-August 2004 Percent Change, Year Ago California United States

50 Percent Change, Year Ago Employment Growth By Metro, Aug JAN 2002 APR JUL OCT JAN 2003 APR JUL OCT Los Angeles Orange County San Diego JAN 2004 APR JUL

51 Percent Change, Year Ago 5 Employment Growth By Metro, Aug JAN 2002 APR JUL OCT JAN 2003 APR JUL OCT San Jose San Francisco Sacramento JAN 2004 APR JUL

52 California vs. U.S. - Real GDP Growth Percent Change, Year Ago California United States

53 California vs. U.S. Productivity Output per Employee US$ Thousands California United States

54 Manufacturing - CA Industry Output & Employment as Percent of State Totals Percent Output (L) Employment (R) Percent

55 Manufacturing Employment Growth California vs. United States, 1992 August 2004 Percent Change, Year Ago Percent Change, Year Ago California United States

56 Aerospace Products & Parts Mfg - CA Industry Output & Employment as Percent of State Totals Percent Output (L) Employment (R) Percent

57 Architectural & Engineering Svcs - CA Industry Output & Employment as Percent of State Totals Percent Output (L) Employment (R) Percent

58 Communications Equipment Mfg - CA Industry Output & Employment as Percent of State Totals Percent Output (L) Employment (R) Percent

59 Computer & Peripheral Equip. Mfg - CA Industry Output & Employment as Percent of State Totals Percent Output (L) Employment (R) Percent

60 Computer Systems Design Svcs - CA Industry Output & Employment as Percent of State Totals Percent Output (L) Employment (R) Percent

61 High Technology - CA Industry Output & Employment as Percent of State Totals Percent Output (L) Employment (R) Percent

62 High Tech Manufacturing Productivity Annual Output per Employee US$ Thousands California United States

63 Depository Credit Intermediation - CA Industry Output & Employment as Percent of State Totals Percent Output (L) Employment (R) Percent

64 Insurance Carriers & Related Activities - CA Industry Output & Employment as Percent of State Totals Percent Output (L) Employment (R) Percent

65 Nondepository Credit Intermediation - CA Industry Output & Employment as Percent of State Totals Percent Output (L) Employment (R) Percent

66 Securities & Commodities - CA Industry Output & Employment as Percent of State Totals Percent Output (L) Employment (R) Percent

67 Activities Related to Credit Intermediation - CA Industry Output & Employment as Percent of State Totals Percent Output (L) Employment (R) Percent

68 Activities Related to Real Estate - CA Industry Output & Employment as Percent of State Totals Percent Output (L) Employment (R) Percent

69 Lessors of Real Estate - CA Industry Output & Employment as Percent of State Totals Percent Output (L) Employment (R) Percent

70 Offices of Real Estate Agents & Brokers - CA Industry Output & Employment as Percent of State Totals Percent Output (L) Employment (R) Percent

71 Finance & Insurance - CA Industry Output & Employment as Percent of State Totals Percent Output (L) Employment (R) Percent

72 Jobs Lost in ICT* Sector Between March 2001 and April 2004 Percent Region Change San Francisco -49.0% Boston -34.1% San Jose -33.1% Dallas -30.2% Chicago -25.9% *ICT Information and Communication Technology

73 Existing Median Home Price Ranked by Growth between 2000Q1-2004Q2 Rank Metro Area Growth 2000Q1-2004Q2 1 Sacramento CA 123.6% 2 West Palm Beach-Boca Raton FL 117.8% 3 San Diego CA 115.8% 4 Riverside-San Bernardino CA 114.9% 5 Los Angeles-Long Beach CA 111.6% 6 Orange County CA 111.4% 7 Portland ME 108.4% 8 Fresno CA 108.1% 9 Merced CA 100.0% 10 Bakersfield CA 99.4%

74 Percent Homeownership Rates California vs. United States California United States

75 Homeownership Rates By Age Group, Between Percent Change ( )

76 Percent 70 Homeownership Rates By Race/Ethnicity, All Households White Asian Latino African American

77 Low-Income Renters Outnumber Affordable Housing Units, 2002 Ratio of Low-Income Renter Households to Affordable Units Shortage of Affordable Housing Units Region Orange County 2.9-to-1 38,975 Inland Empire 1.4-to-1 25,943 San Diego County 1.9-to-1 40,672

78 Incomes Fail to Keep Pace with Inflation California, Percent Change Median Owner Median Renter Low-Income Renter Low-Income Owner

79 Percent Mortgage Rates - CA 30-Year Conventional Rate, Aug

80 Research & Development Inputs 2004 Index Top Ten 2nd Tier 3rd Tier Bottom Tier

81 Risk Capital & Infrastructure 2004 Index Top Ten 2nd Tier 3rd Tier Bottom Tier

82 Human Capital Investment 2004 Index Top Ten 2nd Tier 3rd Tier Bottom Tier

83 Technology & Science Workforce 2004 Index Top Ten 2nd Tier 3rd Tier Bottom Tier

84 Technology Concentration & Dynamism 2004 Index Top Ten 2nd Tier 3rd Tier Bottom Tier

85 State Science & Technology Components Overall Ranking, 2004 Top Ten 2nd Tier 3rd Tier Bottom Tier

86 Biotech R&D Assets Composite Index, 2004 Biotech Rank MSA Composite Score 1 San Diego Boston NECMA Seattle-Bellevue-Everett Raleigh-Durham-Chapel Hill Philadelphia Washington, D.C San Jose Los Angeles-Long Beach San Francisco Oakland Orange County Austin-San Marcos 52.0

87 Biotech Risk Capital & Infrastructure Composite Index, 2004 Biotech Rank MSA Composite Score 1 San Jose San Francisco San Diego Raleigh-Durham-Chapel Hill Boston NECMA Seattle-Bellevue-Everett Washington, D.C Philadelphia Orange County Los Angeles-Long Beach Oakland Austin-San Marcos 53.1 U.S. 73.9

88 Biotech Human Capital Investment Composite Index, 2004 Biotech Rank MSA Composite Score 1 Raleigh-Durham-Chapel Hill Boston NECMA Oakland San Diego San Jose Philadelphia Washington, D.C Seattle-Bellevue-Everett Austin-San Marcos Los Angeles-Long Beach San Francisco Orange County 51.7 U.S. 62.6

89 Biotech Workforce Composite Index, 2004 Biotech Rank MSA Composite Score 1 Raleigh-Durham-Chapel Hill Boston NECMA San Jose Oakland San Diego Washington, D.C Seattle-Bellevue-Everett Philadelphia San Francisco Los Angeles-Long Beach Orange County Austin-San Marcos 42.2 U.S. 73.9

90 Current Impact Measures - Biotech Size and Performance BIOTECH Size and Performance Employment Level LQ (US=1) Rel. Growth (US=100) Establishments per 10,000 est. MSA San Diego San Jose Raleigh-Durham-Chapel Hill San Francisco Seattle-Bellevue-Everett Oakland Boston NECMA Philadelphia Washington, D.C Austin-San Marcos Los Angeles-Long Beach Orange County Addendum: Ventura*

91 Current Impact Measures - Biotech Diversity BIOTECH # of Ind. LQ>2 Diversity # of Ind. LQ<0.5 # of Ind. growing>us MSA San Diego Raleigh-Durham-Chapel Hill Boston NECMA San Jose Seattle-Bellevue-Everett Oakland Washington, D.C San Francisco Philadelphia Los Angeles-Long Beach Austin-San Marcos Orange County Addendum:Ventura*

92 Current Impact Measures Biotech Composite Score, 2004 MSA Rank Composite Score San Diego Boston NECMA San Jose Raleigh-Durham-Chapel Hill Seattle-Bellevue-Everett Washington, D.C Oakland San Francisco Philadelphia Los Angeles-Long Beach Orange County Austin-San Marcos

93 Milken Institute Biotech Index Overall Composite Score, 2004 MSA Rank Composite Score San Diego Boston NECMA Raleigh-Durham-Chapel Hill San Jose Seattle-Bellevue-Everett Washington, D.C Philadelphia San Francisco Oakland Los Angeles-Long Beach Orange County Austin-San Marcos

94 Milken Institute Life Science Index Overall Composite Score, 2004 MSA Rank Composite Score Boston NECMA San Diego San Jose Raleigh-Durham-Chapel Hill Philadelphia Seattle-Bellevue-Everett San Francisco Washington, D.C Oakland Los Angeles-Long Beach Orange County Austin-San Marcos

95 Milken Institute Biotech Poles 2004 Seattle (83.8) San Francisco (75.8) Oakland (74.3) Washington D.C. (79.4) Boston (95.1) Philadelphia (76.5) San Jose (87.8) Los Angeles (66.5) Orange County (54.1) San Diego (100.0) Austin (47.8) Raleigh (92.5)

96 Milken Institute Life Science Poles 2004 Seattle (81.1) San Francisco (76.7) Oakland (74.1) San Jose (88.9) Washington D.C. (75.8) Boston (100.0) Philadelphia (81.8) Los Angeles (71.3) Orange County (67.6) San Diego (95.9) Austin (50.2) Raleigh (88.8)

97 Biotech Industry Employment Concentration, Growth, and Size Location Quotient (U.S. Average = 1.0) San Diego San Jose Raleigh-Durham Boston Seattle Oakland Philadelphia San Francisco Wash.,D.C. Austin Los Angeles Orange Co Relative Growth (Index U.S. = 100)

98 Life Science Industry Aggregate Employment Concentration, Growth, and Size 4.0 San Jose Location Quotient (U.S. Average = 1.0) Raleigh-Durham Boston Orange Co. Philadelphia Austin San Diego San Francisco Oakland Seattle Wash.,D.C. Los Angeles Relative Growth (Index U.S. = 100)

99 Level 95 Research & Development Inputs Top Ten States, MA CA CO MD NM RI WA NH PA VA

100 Level 85 Risk Capital & Infrastructure Top Ten States, MA CA RI CO MD NH NC WA MN GA

101 Level 80 Human Capital Investment Top Ten States, CO MN MA MD VT CT CA WA KS NY

102 Level 90 Technology & Science Workforce Top Ten States, MA MD CA VA CO NJ WA TX CT AZ

103 Technology Concentration & Dynamism Level 95 Top Ten States, VA CO MA CA NJ MD NH UT DE GA

104 Level 85 State Science & Technology Index Top Ten States, MA CA CO MD VA WA NJ MN UT CT

105 Research & Development Inputs California Rankings, 2004 Rank 1 Federal Research & Development - $ per Capita 5 2 Industry Research & Development - $ per Capita 6 3 Academic Research & Development - $ per Capita 18 4 Total NSF Funding - per $100k of GSP 17 5 Total NSF Research Support Funding - per $100k of GSP 13 6 R&D Exp on Engineering at PhD-granting Univs R&D Exp on Phys Sciences at PhD-granting Univs. 9 8 R&D Exp on Environ. Sciences at PhD-granting Univs R&D Exp on Math & Comp. Sci at PhD-granting Univs. 8

106 Research & Development Inputs (Cont.) California Rankings, 2004 Rank 10 R&D Exp on Life Scieneces at PhD-granting Univs R&D Exp on Agricultural Sciences at PhD-granting Univs R&D Exp on Biomedical Sciences at PhD-granting Univs Avg Annual # of STTR Awards per 10,000 Businesses Avg Annual STTR Award Dollars per $Millions of GSP SBIR Awards per 100,000 People 8 16 Phase I SBIR Awards per 10,000 Businesses 7 17 Phase II SBIR Awards per 10,000 Businesses 7 18 Funding Rate for Competitive NSF Proposals 4

107 Risk Capital & Infrastructure California Rankings, 2004 Rank 1 Total Venture Capital Investments Growth 28 2 Ratio of Companies Receiving VC Investments 2 3 Growth of # Companies Receiving VC Investments 29 4 VC Investment as Percent of GSP 2 5 Avg Annual SBIC Funds Disbursed per $1000 of GSP 2 6 # of Business Incubators per 10,000 Businesses 13 7 Patents per 100,000 People 5 8 # of Business Starts per 100,000 People 13 9 IPO Proceeds as % of GSP 9

108 Human Capital Investment California Rankings, 2004 Rank 1 % Pop. 25+ With Bachelor's Degree or Greater 15 2 % of Pop. 25+ With Advanced Degree or Greater 11 3 % of Pop. 25+ With PhD Degree 5 4 # of Grad Students in Sci & Eng (25-34 Age Cohort) 27 5 State Spending on Student Aid - $ per Capita 22 6 Average Verbal SAT Scores 43 7 Average Math SAT Scores 32 8 Average ACT Scores 20 9 State Appropriations for Higher Educ - $ per Capita 9 10 % Change in State Appropriations for Higher Educ 28

109 Human Capital Investment (Continued) California Rankings, 2004 Rank 11 Number of Doctoral Scientists - per Capita Number of Doctoral Engineers - per Capita 5 13 # Sci & Eng Doctorates Awarded (25-34 Age Cohort) # Sci & Eng Postdoctorates (25-34 Age Cohort) 9 15 % Bachelor's Degrees Granted in Sci & Eng % Work Force w/recent Bachelor's Degree in Sci or Eng % Work Force w/recent Master's Degree in Sci or Eng 6 18 % Work Force w/recent PhD in Sci or Eng 6 19 Percent of Households with Computers Percent of Households with Internet Access 9

110 Technology and Science Workforce California Rankings, 2004 Rank 1 Intensity of Computer & Information Scientists 8 2 Intensity of Computer Programmers 11 3 Intensity of Software Engineers, Systems Software 5 4 Intensity of Computer Support Specialists 19 5 Intensity of Computer Systems Analysts 20 6 Intensity of Database & Network Administrators 6 7 Intensity of Agricultural & Food Scientists 16 8 Intensity of Biochemists and Biophysicists 5 9 Intensity of Microbiologists 4

111 Technology & Science Workforce (Cont.) California Rankings, 2004 Rank 10 Intensity of Medical Scientists 7 11 Intensity of Physicists 6 12 Intensity of Other Life, Phys Occupations Intensity of Electronics Engineers 5 14 Intensity of Electrical Engineers 7 15 Intensity of Computer Hardware Engineers 1 16 Intensity of Biomedical Engineers 6 17 Intensity of Agricultural Engineers Intensity of Other Engineers 20

112 Technology Concentration & Dynamism California Rankings, 2004 Rank 1 % Establishments in High-Tech NAICS Codes 7 2 % Employment in High-Tech NAICS Codes 6 3 % Payroll in High Technology NAICS Codes 4 4 % Establishment Births in High-Tech NAICS Codes 9 5 Net Formation of High-Tech Co's. per 10k Businesses 10 6 # of Technology Fast 500 Co's. per 10k Businesses 2 7 High-Tech Industries Growth - 5-year Average 22 8 # of High-Tech Industries Growing Faster than U.S. 9 9 High Tech Industries Location Quotients Over # of Inc. 500 Companies per 10,000 Businesses 19

113 Science & Technology Component Index California Rankings, 2004 Rank 1 Research & Development Inputs Component Index 2 2 Risk Capital & Infrastructure Component Index 2 3 Human Capital Investment Component Index 7 4 Technology & Science Workforce Component Index 3 5 Technology Concentration & Dynamism Comp. Index 4

114 Biopharmaceutical Employment L.Q. U.S. Average LQ=1.0, 2003 Rank = 9 L.Q.= 1.38 Rank = 2 L.Q.= 2.15 Rank = 3 L.Q.= 2.15 Rank = 8 L.Q.= 1.55 Rank = 7 L.Q.= 1.57 Top Ten 2nd Tier 3rd Tier Bottom Tier Rank = 4 L.Q.= 2.14 Rank = 6 L.Q.= 1.92 Rank = 1 L.Q.= 3.72 Rank = 5 L.Q.= 1.97 Rank = 10 L.Q.= 1.38

115 Biopharmaceutical Employment Growth Alaska Rank = 6 Growth = 117.9% Rank = 9 Rank = 1 Growth = 96.7% Rank = 8 Growth = 301.6% Growth = 100.8% Rank = 4 Growth = 166.8% Rank = 5 Growth = 146.6% Rank = 10 Growth = 89.5% Rank = 3 Growth = 194.0% Top Ten 2nd Tier 3rd Tier Bottom Tier Rank = 7 Growth = 106.1% Rank = 2 Growth = 220.2%

116 Biopharmaceutical Innovation Pipeline Rank = 8 Score = Overall Index 2004 Rank = 1 Score = Rank = 10 Score = Rank = 3 Score = Rank = 4 Score = Rank = 5 Score = Rank = 6 Score = Rank = 9 Score = Top Ten 2nd Tier 3rd Tier Bottom Tier Rank = 2 Score = Rank = 7 Score = 74.95

117 Multiplier Impacts Biopharmaceutical Employment, West States, 2003 Direct-Effect Employment Multiplier Direct Impact (Thous.) Total Impact (Thous.) State Alaska Arizona California Colorado Hawaii Idaho Montana Nevada New Mexico Oregon Utah Washington Wyoming

118 Biopharmaceutical Employment Forecast Top 15 States by Absolute Increase, ( ) Absolute Percent Increase Increase Rank State (Thous.) (Thous.) (Thous.) (%) 1 California Massachusetts Pennsylvania New York North Carolina Maryland Connecticut Rhode Island Florida Indiana New Jersey Washington Texas Utah Illinois United States

119 PROP 71 Stem Cell Research Establishes California Institute for Regenerative Medicine to regulate and fund stem cell research Prohibits funding of human reproductive cloning research Fiscal Impact: State cost of about $6 billion over 30 years

120 PROP 71 Arguments - CON Adds $3 billion of bond debt Funds huge, new bureaucracy to promote human embryo cloning Few controls, no real accountability for how money is spent Exempts new bureaucracy from aspects of "open meeting" laws

121 PROP 71 Arguments - PRO Find new cures for cancer, heart disease, and other diseases Save millions of lives Cut health care costs by billions Prohibits cloning to create babies

122 100 Preliminary Approval of Maps for Residential Subdivisions Percent approved in 10 weeks Arizona Texas California

123 California s Business Obstacle Course What a Small Carpet Manufacturer in Los Angeles Must Deal With City of Commerce Los Angeles County South Coast Air Quality Management District And Many More