Governor Newsom Unveils Economic Framework to Streamline Production of Sustainable High-Quality Jobs for Californians

The new blueprint takes a first-of-its-kind, region-driven approach to growing priority sectors.

MARINA, CA, UNITED STATES, November 25, 2024 /EINPresswire.com/ -- Gov. Gavin Newsom unveiled a new economic framework on Thursday to create good-paying jobs in California. The updated California Jobs First Economic Blueprint will guide the state’s investments in key sectors to drive sustainable economic growth, innovation, and access to good-paying jobs over the next decade. The new framework draws from 13 regional strategies in Regional Plans Part 2 developed as part of the Regional Investment Initiative, which seeks to center disadvantaged communities as part of California’s transition to a clean-energy, carbon-neutral economy, creating good-paying jobs and prosperous communities for all.

Monterey Bay Economic Partnership (MBEP) has been deeply invested in the process of developing a forward-thinking development plan for the region as a partner in Uplift Central Coast, a six-county coalition working to attract investment and expand opportunities for Central Coast residents. In September, Uplift Central Coast submitted its comprehensive Regional Plan Part II report to the state, identifying impactful, equitable ways to improve the local economy.

The Central Coast is marked by wide socio-economic disparities, with over 1 million residents, or 45 percent, struggling to make ends meet, meaning their incomes do not cover basic costs of living. Only 25 percent of the region’s jobs qualify as “quality jobs,” with an additional 15 percent of jobs qualifying as “promising jobs,” meaning they lead to a quality job within a decade. High housing costs, expensive child care, and long commutes further diminish the quality of life and reduce wage value within the region. Black, Indigenous, and People of Color (BIPOC) residents and those with lower forms of traditional education are disproportionately underrepresented in holding quality or promising jobs.

The result of extensive research and community engagement, the Regional Plan Part II Report outlines a strategic framework to inspire actions to create quality jobs, with an emphasis on uplifting those from disinvested communities. Strategies outlined in the Regional Plan Part II fall into four main categories: target sector, economic mobility, climate resilience through economic and workforce, and community development strategies to increase the presence of quality of jobs and enhance the quality of life for current and future residents of the Central Coast.

The plan outlines significant opportunities for quality job creation in precision manufacturing and advanced business services and enhancing job quality in the region's prominent hospitality and tourism, agriculture and healthcare sectors.

“This is an important step toward inclusive economic development shaped by extensive community input and driven by our unique regional needs and strengths,” said Monterey Bay Economic Partnership President & CEO Tahra Goraya. “Our regional strategy will accelerate the creation of high-quality jobs on the Central Coast.”

The complete Economic Blueprint outlined by the Governor will be released early next year, along with $120 million over three years in competitive funding to support “ready-to-go” job-creating projects aligned to state priority sectors, ensuring that every region across California continues to play a critical role in the sustainable growth of the world’s fifth largest economy.

Monterey Bay Economic Partnership and Uplift Central Coast will continue to advance job creation and workforce preparedness strategies as part of inclusive, sustainable economic development strategies in our region, in partnership with our regional, state and federal leaders, community members and local stakeholders, to help our communities not only survive, but thrive. We invite you to learn more about the strategies outlined in Uplift's Regional Plan Part II in the Executive Summary and the full document, and reach out to us to get involved.

About Monterey Bay Economic Partnership (MBEP): Monterey Bay Economic Partnership (MBEP) is a regional member-supported nonprofit organization consisting of public, private, and civic entities located throughout the counties of Monterey, San Benito, and Santa Cruz. Founded in 2015, our mission is to improve the economic health and quality of life in the region.

Marie Vasari Hislop
Monterey Bay Economic Partnership
+1 831-224-2132
media@mbep.biz
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