California

==Economy==
{{Main|Economy of California}}
[[File:SJ skyline at night horizontal.jpg|thumb|right|280px|[[Silicon Valley]] is the largest [[List of technology centers|tech hub]] in the world and home to [[Big Tech]] companies like [[Apple Inc.|Apple]], [[Alphabet Inc.|Alphabet]], [[Meta Platforms, Inc.|Meta]], [[Intel Corporation|Intel]], [[Netflix, Inc.]], [[Uber Technologies, Inc.|Uber]], [[Nvidia Corporation|Nvidia]], [[HP Inc.|HP]], [[X Corp]] and many more.]]
California's economy ranks among the largest in the world. {{as of|2022}}, the [[gross state product]] (GSP) was $3.6{{spaces}}[[1000000000000 (number)|trillion]] ($92,190 per capita), the largest in the [[United States]].<ref name="bea2022">{{Cite web|url=https://apps.bea.gov/|title=BEA: Gross Domestic Product by State, 4th Quarter and Annual 2022|website=apps.bea.gov}}</ref> California is responsible for one seventh of the nation's gross domestic product (GDP).<ref name="gdp">{{Cite web |title=GDP by State |website=Bureau of Economic Analysis |url=https://bea.gov/newsreleases/regional/gdp_state/qgdpstate_newsrelease.htm |access-date=May 18, 2018}}</ref> {{as of|2018}}, California's nominal GDP is larger than all but four countries (the [[Economy of the United States|United States]], [[Economy of China|China]], [[Economy of Japan|Japan]], and [[Economy of Germany|Germany]]).<ref name="ccsce">{{Cite web |date=July 2013 |title=California Poised to Move Up in World Economy Rankings in 2013 |url=http://www.ccsce.com/PDF/Numbers-July-2013-CA-Economy-Rankings-2012.pdf |archive-url=https://ghostarchive.org/archive/20221009/http://www.ccsce.com/PDF/Numbers-July-2013-CA-Economy-Rankings-2012.pdf |archive-date=October 9, 2022 |url-status=live |access-date=June 14, 2014 |publisher=Center for Continuing Study of the California Economy}}</ref> In terms of [[purchasing power parity]] (PPP),<ref name="8large">{{Cite web |date=December 2, 2010 |title=Calif. retains economy that would be 8th largest |url=http://www.businessweek.com/ap/financialnews/D9JS1MLO0.htm |archive-url=https://web.archive.org/web/20101206151318/http://www.businessweek.com/ap/financialnews/D9JS1MLO0.htm |archive-date=December 6, 2010 |access-date=September 2, 2012 |website=Bloomberg BusinessWeek}}</ref> it is larger than all but eight countries (the United States, China, [[Economy of India|India]], Japan, Germany, [[Economy of Russia|Russia]], [[Economy of Brazil|Brazil]], and [[Economy of Indonesia|Indonesia]]).<ref name="worldbank2012">{{Cite web |title=GDP, PPP (current international $) |url=http://data.worldbank.org/indicator/NY.GDP.MKTP.PP.CD?order=wbapi_data_value_2012+wbapi_data_value+wbapi_data_value-last&sort=desc |access-date=June 14, 2014 |publisher=World Bank, International Comparison Program database}}</ref> California's economy is larger than [[Economy of Africa|Africa]] and [[Economy of Australia|Australia]] and is almost as large as [[Economy of South America|South America]].<ref>{{Cite web |date=October 2019 |title=GDP, current prices |url=https://www.imf.org/external/datamapper/NGDPD@WEO/OEMDC/ADVEC/WEOWORLD |access-date=January 22, 2020 |website=World Economic Outlook |publisher=International Monetary Fund}}</ref> The state recorded total, non-farm employment of 16,677,800<ref name="bls.gov" /> {{As of|2021|09|lc=y}} among 966,224 employer establishments.<ref>{{Cite web|title=U.S. Census Bureau QuickFacts: California|url=https://www.census.gov/quickfacts/CA|url-status=live|access-date=December 6, 2021|website=www.census.gov|archive-url=https://web.archive.org/web/20171201115306/https://www.census.gov/quickfacts/CA |archive-date=December 1, 2017 }}.</ref>
[[File:The port of Long Beach 2 by Don Ramey Logan.jpg|thumb|left|The combined [[Port of Los Angeles]]-[[Port of Long Beach]] is the largest port in the U.S. by import volume and one of the [[List of busiest container ports|busiest ports in the world]].]]
As the largest and second-largest U.S. ports respectively, the [[Port of Los Angeles]] and the [[Port of Long Beach]] in Southern California collectively play a pivotal role in the global supply chain, together hauling in about 40% of all imports to the United States by [[Twenty-foot equivalent units|TEU]] volume.<ref name="Karlamangla"/> The [[Port of Oakland]] and [[Port of Hueneme]] are the 10th and 26th largest seaports in the U.S., respectively, by number of TEUs handled.<ref name=Burnson>Patrick Burnson, [https://www.logisticsmgmt.com/article/top_30_u.s._ports_trade_tensions_determine_where_cargo_goes_next Top 30 U.S. Ports 2019: Trade tensions determine where cargo goes next], ''Logistics Management'' (May 10, 2019).</ref>

The five largest sectors of employment in California are trade, transportation, and utilities; government; professional and business services; education and health services; and leisure and hospitality. In output, the five largest sectors are financial services, followed by trade, transportation, and utilities; education and health services; government; and manufacturing.<ref>{{Cite web |title=2011 CalFacts |url=http://www.lao.ca.gov/reports/2011/calfacts/calfacts_010511.aspx |access-date=April 22, 2011 |publisher=Lao.ca.gov}}</ref> California has an [[California unemployment statistics|unemployment]] rate of 3.9% {{as of|2022|9|lc=y}}.<ref name="bls.gov">{{Cite web|title=California Economy at a Glance|url=https://www.bls.gov/regions/west/california.htm|url-status=live|access-date=December 6, 2021|website=bls.gov|archive-url=https://web.archive.org/web/20141121114732/http://www.bls.gov:80/regions/west/california.htm |archive-date=November 21, 2014 }}</ref>

California's economy is dependent on trade and international related commerce accounts for about one-quarter of the state's economy. In 2008, California exported $144{{spaces}}billion worth of goods, up from $134{{spaces}}billion in 2007 and $127{{spaces}}billion in 2006.<ref name="Cal Trade Statistics 2008">{{Cite web |title=Trade Statistics |url=http://www.calchamber.com/international/trade/pages/tradestatistics.aspx |archive-url=https://web.archive.org/web/20100209095504/http://www.calchamber.com/international/trade/pages/tradestatistics.aspx |archive-date=February 9, 2010 |access-date=January 29, 2010 |publisher=California Chamber of Commerce}}</ref>
Computers and electronic products are California's top export, accounting for 42 percent of all the state's exports in 2008.<ref name="Cal Trade Statistics 2008" />

=== Agriculture ===
{{main|Agriculture in California}}
{{further|Strawberry cultivation in California|Production of peaches in California|Walnuts in California}}
{{see also|California nut crimes}}
[[File:Autumn in Napa Valley vineyards.jpg|right|thumb|[[California wine|California vineyards]] in [[Wine Country]]. The [[Agriculture in California|agricultural industry in California]] is the largest [[Agriculture in the United States|in the U.S.]]]]

Agriculture is an important sector in California's economy. According to the [[United States Department of Agriculture|USDA]] in 2011, the three largest California agricultural products by value were [[California dairy industry|milk and cream]], shelled [[Almond cultivation in California|almonds]], and [[Grape cultivation in California|grapes]].<ref name="Jason Gibson-2012"/> Farming-related sales more than quadrupled over the past three decades, from $7.3{{spaces}}billion in 1974 to nearly $31{{spaces}}billion in 2004.<ref name="Cal Facts 2006 State Economy">{{Cite web |date=August 6, 2007 |title=Cal Facts 2006 State Economy |url=http://www.lao.ca.gov/2006/cal_facts/2006_calfacts_econ.htm |access-date=January 29, 2010 |publisher=Legislative Analyst's Office of California}}</ref> This increase has occurred despite a 15 percent decline in acreage devoted to farming during the period, and water supply suffering from chronic instability. Factors contributing to the growth in sales-per-acre include more intensive use of active farmlands and technological improvements in crop production.<ref name="Cal Facts 2006 State Economy" /> In 2008, California's 81,500 farms and ranches generated $36.2{{spaces}}billion products revenue.<ref name="California Agricultural Production Statistics 2009–2010">{{Cite web |date=2010 |title=California Agricultural Production Statistics 2009–2010 |url=http://www.cdfa.ca.gov/statistics/ |access-date=October 5, 2010 |publisher=cdfa.ca.gov (California Department of Food and Agriculture)}}</ref> In 2011, that number grew to $43.5{{spaces}}billion products revenue.<ref name="California Agricultural Production Statistics 2011">{{Cite web |date=2013 |title=California Agricultural Production Statistics 2011 |url=http://www.cdfa.ca.gov/statistics/ |access-date=May 18, 2013 |publisher=cdfa.ca.gov (California Department of Food and Agriculture)}}</ref> The agriculture sector accounts for two percent of the state's GDP and employs around three percent of its total workforce.<ref>{{Cite news |last=Venton |first=Danielle |date=June 5, 2015 |title=A Better Way for California to Water Its Farms |magazine=Wired |url=https://www.wired.com/2015/06/farming-and-drought/ |access-date=June 5, 2015}}</ref>

=== Income ===
{{See also|California locations by per capita income}}
[[File:Sleeping Beauty Castle 2019.jpg|thumb|left|California is the most visited state in the country.<ref>{{Cite web|url=https://www.businessinsider.com/the-most-popular-us-states-for-tourism-2014-10|title=A Detailed Look At How Americans Travel Within The US|first=Jennifer|last=Polland|website=Business Insider}}</ref> [[Disneyland]] in [[Anaheim]] is a major tourist destination, with 16.9 million annual visits in 2022.<ref>{{Cite web |url = https://aecom.com/wp-content/uploads/documents/reports/AECOM-Theme-Index-2022.pdf |title = TEA/AECOM 2022 Global Attractions Attendance Report |date = 2023 |access-date = August 16, 2023 }}</ref>]]
[[List of U.S. states by GDP per capita|Per capita GDP]] in 2007 was $38,956, ranking eleventh in the nation.<ref name="BEA State Personal Income 2006">{{Cite press release |title=State Personal Income 2006 |date=March 27, 2007 |publisher=[[Bureau of Economic Analysis]] |url=https://www.bea.gov/newsreleases/regional/spi/2007/spi0307.htm |access-date=January 29, 2010 |archive-url=https://web.archive.org/web/20070704133957/http://www.bea.gov/newsreleases/regional/spi/2007/spi0307.htm |archive-date=July 4, 2007}}</ref> [[California locations by per capita income|Per capita income]] varies widely by geographic region and profession. The Central Valley is the most impoverished, with [[migrant worker|migrant farm workers]] making less than [[minimum wage]]. According to a 2005 report by the [[Congressional Research Service]], the [[San Joaquin Valley]] was characterized as one of the most economically depressed regions in the United States, on par with the region of [[Appalachia]].<ref name="CRS San Joaquin Valley">{{Cite web |last=Cowan |first=Tadlock |date=December 12, 2005 |title=California's San Joaquin Valley: A Region in Transition |url=http://www.centralvalleybusinesstimes.com/links/CRS%20San%20Joaquin%20Valley%20Report.pdf |archive-url=https://web.archive.org/web/20090324221541/http://www.centralvalleybusinesstimes.com/links/CRS%20San%20Joaquin%20Valley%20Report.pdf |archive-date=March 24, 2009 |access-date=January 29, 2010 |publisher=Congressional Research Service, Library of Congress |page=2}}</ref>

Using the supplemental poverty measure, California has a [[Poverty in the United States|poverty rate]] of 23.5%, the highest of any state in the country.<ref>{{Cite news |last=Berlinger |first=Joshua |date=November 12, 2012 |title=A New Poverty Calculation Yields Some Surprising Results |work=[[Business Insider]] |url=http://www.businessinsider.com/new-census-data-on-poverty-rates-yields-some-pretty-shocking-results-2012-11 |access-date=October 7, 2013}}</ref> However, using the official measure the poverty rate was only 13.3% as of 2017.<ref>{{Cite web |title=U.S. Census Bureau QuickFacts: United States |url=https://www.census.gov/quickfacts/US |access-date=August 2, 2019 |website=www.census.gov}}</ref> Many coastal cities include some of the wealthiest per-capita areas in the United States. The high-technology sectors in Northern California, specifically [[Silicon Valley]], in [[Santa Clara County, California|Santa Clara]] and [[San Mateo County, California|San Mateo counties]], have emerged from the economic downturn caused by the [[dot-com bubble|dot-com bust]].

In 2019, there were 1,042,027 millionaire households in the state, more than any other state in the nation.<ref>{{Cite web |last=May |first=Patrick |title=How many millionaires do we have in California? Hint: It's a big number |url=https://www.chicoer.com/2019/02/05/how-many-millionaires-do-we-have-in-california-hint-its-a-big-number/ |access-date=May 3, 2020 |website=Enterprise Record|date=February 5, 2019 }}</ref> In 2010, California residents were ranked first among the states with the best average credit score of 754.<ref>{{Cite web |last=Bukszpan |first=Daniel |date=March 29, 2012 |title=States With the Best Credit Scores |url=https://www.cnbc.com/2012/03/29/States-With-the-Best-Credit-Scores.html |website=Cnbc.com}}</ref>

<gallery mode="packed" heights="200">
File:USA-World Nominal GDP.PNG|If California was an independent country, its gross domestic product (nominal) would rank [[List of U.S. states and territories by GDP|fifth in the world]] (2022).<ref>{{Cite web |title=5. Report for Selected Countries and Subjects |url=https://www.imf.org/external/pubs/ft/weo/2016/01/weodata/weorept.aspx?pr.x=69&pr.y=15&sy=2018&ey=2018&scsm=1&ssd=1&sort=country&ds=.&br=1&c=512%2C672%2C914%2C946%2C612%2C137%2C614%2C546%2C311%2C962%2C213%2C674%2C911%2C676%2C193%2C548%2C122%2C556%2C912%2C678%2C313%2C181%2C419%2C867%2C513%2C682%2C316%2C684%2C913%2C273%2C124%2C868%2C339%2C921%2C638%2C948%2C514%2C943%2C218%2C686%2C963%2C688%2C616%2C518%2C223%2C728%2C516%2C558%2C918%2C138%2C748%2C196%2C618%2C278%2C624%2C692%2C522%2C694%2C622%2C142%2C156%2C449%2C626%2C564%2C628%2C565%2C228%2C283%2C924%2C853%2C233%2C288%2C632%2C293%2C636%2C566%2C634%2C964%2C238%2C182%2C662%2C359%2C960%2C453%2C423%2C968%2C935%2C922%2C128%2C714%2C611%2C862%2C321%2C135%2C243%2C716%2C248%2C456%2C469%2C722%2C253%2C942%2C642%2C718%2C643%2C724%2C939%2C576%2C644%2C936%2C819%2C961%2C172%2C813%2C132%2C199%2C646%2C733%2C648%2C184%2C915%2C524%2C134%2C361%2C652%2C362%2C174%2C364%2C328%2C732%2C258%2C366%2C656%2C734%2C654%2C144%2C336%2C146%2C263%2C463%2C268%2C528%2C532%2C923%2C944%2C738%2C176%2C578%2C534%2C537%2C536%2C742%2C429%2C866%2C433%2C369%2C178%2C744%2C436%2C186%2C136%2C925%2C343%2C869%2C158%2C746%2C439%2C926%2C916%2C466%2C664%2C112%2C826%2C111%2C542%2C298%2C967%2C927%2C443%2C846%2C917%2C299%2C544%2C582%2C941%2C474%2C446%2C754%2C666%2C698%2C668&s=NGDPD&grp=0&a= |archive-url=https://web.archive.org/web/20190323111307/https://www.imf.org/external/pubs/ft/weo/2016/01/weodata/weorept.aspx?pr.x=69&pr.y=15&sy=2018&ey=2018&scsm=1&ssd=1&sort=country&ds=.&br=1&c=512%2C672%2C914%2C946%2C612%2C137%2C614%2C546%2C311%2C962%2C213%2C674%2C911%2C676%2C193%2C548%2C122%2C556%2C912%2C678%2C313%2C181%2C419%2C867%2C513%2C682%2C316%2C684%2C913%2C273%2C124%2C868%2C339%2C921%2C638%2C948%2C514%2C943%2C218%2C686%2C963%2C688%2C616%2C518%2C223%2C728%2C516%2C558%2C918%2C138%2C748%2C196%2C618%2C278%2C624%2C692%2C522%2C694%2C622%2C142%2C156%2C449%2C626%2C564%2C628%2C565%2C228%2C283%2C924%2C853%2C233%2C288%2C632%2C293%2C636%2C566%2C634%2C964%2C238%2C182%2C662%2C359%2C960%2C453%2C423%2C968%2C935%2C922%2C128%2C714%2C611%2C862%2C321%2C135%2C243%2C716%2C248%2C456%2C469%2C722%2C253%2C942%2C642%2C718%2C643%2C724%2C939%2C576%2C644%2C936%2C819%2C961%2C172%2C813%2C132%2C199%2C646%2C733%2C648%2C184%2C915%2C524%2C134%2C361%2C652%2C362%2C174%2C364%2C328%2C732%2C258%2C366%2C656%2C734%2C654%2C144%2C336%2C146%2C263%2C463%2C268%2C528%2C532%2C923%2C944%2C738%2C176%2C578%2C534%2C537%2C536%2C742%2C429%2C866%2C433%2C369%2C178%2C744%2C436%2C186%2C136%2C925%2C343%2C869%2C158%2C746%2C439%2C926%2C916%2C466%2C664%2C112%2C826%2C111%2C542%2C298%2C967%2C927%2C443%2C846%2C917%2C299%2C544%2C582%2C941%2C474%2C446%2C754%2C666%2C698%2C668&s=NGDPD&grp=0&a= |archive-date=March 23, 2019 |access-date=December 15, 2018}}</ref>
File:California counties by GDP 2021.png|California counties by GDP (2021)<ref>{{Cite web|title=GDP by county in 2021|url=https://www.bea.gov/sites/default/files/2022-12/lagdp1222.pdf}}</ref>
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===State finances===
{{Main|California state finances|2008–12 California budget crisis}}
[[File:California economic regions map (labeled and colored).svg|thumb|upright=.8|[[economic regions of California|California economic regions]]]]
State spending increased from $56{{spaces}}billion in 1998 to $127{{spaces}}billion in 2011.<ref>{{Cite news |last=Nunes |first=Devin |date=January 10, 2009 |title=California's Gold Rush Has Been Reversed |page=A9 |work=The Wall Street Journal |url=https://www.wsj.com/articles/SB123154816733469917 |access-date=January 29, 2010}}</ref><ref>{{Cite web|url=https://www.reuters.com/article/us-california-budget-idUSTRE7095FB20110110 |title=California's Brown proposes "painful" budget cuts |last=Christie |first=Jim |archive-url=https://web.archive.org/web/20151015211702/http://www.reuters.com/article/2011/01/10/us-california-budget-idUSTRE7095FB20110110 |archive-date=October 15, 2015 |url-status=live |website=Reuters |date=January 10, 2011}}</ref> California has the third highest per capita spending on welfare among the states, as well as the highest spending on welfare at $6.67{{spaces}}billion.<ref>{{Cite news |last=Michael Gardner |date=July 28, 2012 |title=Is California the welfare capital?: Delving into why California has such a disproportionate share of the nation's recipients |work=U-T San Diego |url=http://www.utsandiego.com/news/2012/jul/28/welfare-capital-of-the-us/?page=1#article |access-date=August 6, 2012}}</ref> In January 2011, California's total debt was at least $265{{spaces}}billion.<ref>{{Cite web|url=http://www.sfgate.com/opinion/openforum/article/How-much-does-California-owe-2478624.php |title=How much does California owe? |last=Nation |first=Joe |website=[[Sfgate.com]] |date=January 19, 2011}}</ref> On June 27, 2013, Governor Jerry Brown signed a balanced budget (no deficit) for the state, its first in decades; however, the state's debt remains at $132{{spaces}}billion.<ref>{{Cite web|url=http://www.sfgate.com/news/article/Gov-Brown-proudly-signs-balanced-state-budget-4628307.php |title=Gov. Brown proudly signs balanced state budget |last=Buchanan |first=Wyatt |website=[[Sfgate.com]] |date=June 27, 2013 |access-date=July 29, 2013}}</ref><ref>{{Cite news |title=California's current debt load: $132 billion |url=http://www.bizjournals.com/sacramento/news/2013/09/06/californias-current-debt-load-132.html}}</ref>

With the passage of [[California Proposition 30 (2012)|Proposition 30 in 2012]] and [[2016 California Proposition 55|Proposition 55 in 2016]], California now levies a 13.3% maximum marginal [[income tax]] rate with ten [[tax bracket]]s, ranging from 1% at the bottom tax bracket of $0 annual individual income to 13.3% for annual individual income over $1,000,000 (though the top brackets are only temporary until Proposition 55 expires at the end of 2030). While Proposition 30 also enacted a minimum [[sales taxes in the United States#California|state sales tax]] of 7.5%, this sales tax increase was not extended by Proposition 55 and reverted to a previous minimum state sales tax rate of 7.25% in 2017. Local governments can and do levy additional sales taxes in addition to this minimum rate.<ref>{{Cite web |title=California Proposition 30, Sales and Income Tax Increase (2012) |url=http://ballotpedia.org/wiki/index.php/California_Proposition_30,_Sales_and_Income_Tax_Increase_(2012)#cite_note-taxfoundation_states-6 |access-date=January 16, 2013 |publisher=Ballotpedia}}</ref>

All [[real property]] is taxable annually; the ad valorem tax is based on the property's fair market value at the time of purchase or the value of new construction. Property tax increases are capped at 2% annually or the rate of inflation (whichever is lower), per [[California Proposition 13 (1978)|Proposition 13]].