Since 2010 California's innovation economy far outpaced the rest of the country. California is a beacon for big bold ideas and research and development. In most regions the early stages of an idea's patent certification and R&D often translate later to manufacturing jobs in the same area - meaning a tremendous opportunity for the local middle class.
For California, the latter part of the equation appears to be falling flat since 2010. You'll see in the chart below that the state's patent growth is near double the United States' pace, while our manufacturing job growth is less than half the pace of the rest of the country.
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Too often California's ideas are being invested in other parts of the country when it's time to build manufacturing facilities to produce commercial scale of a product. With so much innovation and bold and intelligent risk takers in our state, California needs to find ways to make it easier for our innovators to manufacturer in our own backyard.
Gino DiCaro is VP, Communications, for CMTA, the California Manufacturers and Technology Association. Reach him at gdicaro@cmta.net.
