skip to Main Content

Silicon Valley Leadership Group Issues Statement on Proposed CA Budget

CEO Thomas Stresses Need for Transit, Climate, Housing and Competitiveness

San Jose, CA, January 11, 2021: Ahmad Thomas, CEO of the Silicon Valley Leadership Group, issued the following statement today in response to the release of Governor’s Newsom proposed budget for FY 2021-22:

“On the heels of a year defined by unprecedented challenges, we thank the Governor for his diligence in putting forward a budget proposal that is responsive to the needs of all Californians. With a focus on economic recovery and strategic investment, there is much to like in the proposed budget.

As we look toward a robust and equitable economic recovery, it’s critical that we can continue to invest in affordable housing, smart transit, and climate-friendly programs in order to improve our quality of life and ensure that our state remains an attractive place to live and do business.

In light of recent news that several high-profile businesses are relocating out-of-state, the Silicon Valley Leadership Group is acutely concerned with the economic competitiveness of California’s business climate. The General Fund relies upon personal income tax, sales tax, and corporate taxes for the vast majority of its revenues, and is thereby dependent on a strong economy.

In light of ever-changing market forces and the economic turbulence that defined the past year of our lives, it’s absolutely critical that we take steps to make California a more business-friendly state for employers. Now more than ever, we must work concertedly to stem the flow of innovators—and their many stable, middle-class jobs—out-of-state.

We look forward to discussions with the Governor and his administration on how we can increase the competitiveness of our state for employers in order to retain jobs and expand the reach of our economy for all Californians.”

About the Silicon Valley Leadership Group

The Leadership Group is a business organization of hundreds of Silicon Valley’s most dynamic companies working to shape the innovation economy of California and the nation. Founded by David Packard of Hewlett-Packard, for over 40 years the SVLG has worked to address issues that affect the region’s economic health and quality of life. Today the SVLG Is focused on economic competitiveness with a special focus on diversity & inclusion, climate change and infrastructure. SVLG members collectively provide nearly one of every three private sector jobs in Silicon Valley and contribute more than $3 trillion to the worldwide economy. For more information, visit svlg.org.

###

Back To Top