California Business Minute™

Hi, I am Tim Johnson and welcome to the California Business Minute.

California's specialty crop industries have a significant impact on the state's economy
yielding nearly $15.9 billion annually, or $43.5 million each day of the year, in
"ripple effect" business activity as a result of collective industry spending, according
to new research commissioned by the Buy California Marketing Agreement (BCMA),
administrators of the "California Grown" program.

The "California Grown" campaign is an initiative to educate Californians about the
importance of choosing California-grown products whenever they shop. The study
examined the financial impact of fifteen California specialty crops including the
dairy and wine sectors, as well as asparagus, avocados, cherries, cut flowers, figs,
kiwifruit, nectarines, olives, peaches, pears, plums, raisins and table grapes.

The expenditures by the state's specialty crop growers create a ripple effect
spurring the growth of more than 137,435 jobs. When it comes to labor income,
more than $5.2 billion is generated as a result of industry spending, which is
more than $14.3 million each day of the year. These dollars go to wages and
salaries for new employment, as well as increasing incomes for those already
in the labor force – a portion of which is reinvested throughout California's
economy to pay for an array of goods and services. Additionally, nearly $567.7
million in indirect business taxes, such as property taxes, excise taxes, fees,
licenses and sales taxes, not including income taxes, are generated by these
specialty crop industries.

The report was completed by the Center for Small Business at California State
University, Sacramento.  The full economic impact report and related fact sheets
can be found at www.californiagrown.org.

I am Tim Johnson and this has been the California Business Minute.