Report: The Future of Advanced Technology and Basic Research
Advanced Technology and Basic Research in California
California is globally recognized as the world’s leading center for technology, innovation, and entrepreneurial opportunity. While most concentrated in the San Francisco and Silicon Valley Bay Area , technology assets are spread throughout the state. The economic strength that flows from this unique capacity has produced high-value jobs and world-leading companies and puts California at the leading edge of current and emerging technologies that will transform the world’s economy in coming decades. The income that this activity generates is also a critical source of revenue for the state through personal income taxes (PIT) due to the substantial workforce dedicated to advancing technology in California. In the state’s 2019-2020 fiscal year, PIT accounted for 66.19 percent of California’s General Fund revenues, much of which are driven by taxation on technology initial public offerings (IPOs) and stock gains.
Scenarios for the Future
The following are presented as four possible scenarios for California’s advanced technology future.
Video: Scenarios for California’s Infrastructure Future
Watch our launch event in Sacramento where we released four reports on the future of advanced technology, energy, housing, and transportation.