Quirk-Silva Bill to Protect California Jobs Becomes Law
(SACRAMENTO) –Assembly Bill 1727 (AB 1727) by Assemblywoman Sharon Quirk-Silva (D-Orange County) was signed into law, by governor Edmund Gerald Brown Jr.. AB 1727 reformed the Government Code related to Foreign Trade Zones and the California Foreign Investment Program. Foreign Trade Zones are areas within the state where goods may be imported more easily.
“International trade and foreign investment are very important components of California's $2.4 trillion economy supporting 4.4 million California jobs,” said Quirk-Silva.
The importance of trade to the California economy is increasing the percentage of California jobs tied to trade more than doubled from 1992 to 2011, 10.6% v. 22.0%.
“These programs are designed to promote foreign trade, and global supply chains, while retaining California employment that might otherwise go to foreign countries,” said Quirk-Silva. “We must promote an atmosphere of good business and trade for the economy of California, and secure the jobs for Californians.”