Return to Newsroom

FOR IMMEDIATE RELEASE
Contact: Kirk M. Clark (916) 553-4093
October 2001

CALIFORNIA'S BUSINESS LEADERS RALLY BEHIND PRESIDENT BUSH'S CALL FOR UNITY AND ECONOMIC GROWTH

President's Speech to California Business Leaders in Sacramento "underscores the high stakes, and great opportunity, for California's economy"

Sacramento, CA (October 17, 2001) - California business leaders praised President George W. Bush for stopping in Sacramento today on his way to meetings in Asia, where discussions will focus on the global fight against terrorism and international trade policy.

The California Chamber of Commerce, the California Manufacturers & Technology Association (CMTA) and the California Business Roundtable sponsored today's visit to Sacramento's Memorial Auditorium by President Bush, who is on his way to the Asia Pacific Economic Co-operation (APEC) annual meeting in Shanghai, China. After visiting with the President and hearing his speech, the leaders of the state's most prominent business organizations declared their full support for the President's economic stimulus plan that will create stability in this time of crisis.

"We are delighted that the President chose to visit California as he presses for the tools he needs to open up more foreign markets to our products and services," said Allan Zaremberg, President and Chief Executive Officer of the California Chamber of Commerce.

"The California Chamber of Commerce fully supports renewing Trade Promotion Authority in order to stimulate California's economy. Doing so will allow the resumption of full U.S. engagement in new trade negotiations across the world. President Bush's appearance today underscores the high stakes, and great opportunity, for California's economy — and, by extension, the entire nation. The businesses of California, and their workers and families, cannot afford to be locked out of the global marketplace."

Jack M. Stewart, President of the California Manufacturers & Technology Association, noted that California, while the largest exporter of any state, is struggling more than other states economically.

"California boasts the fifth largest economy in the world. In so many ways, our state drives the national economy. But more than probably any other state, California's economy is struggling right now. In addition to the national economic slump, the technology sector slowdown and high energy costs are seriously impacting California businesses. We cannot miss this opportunity to energize California's business climate, and the nation's, through expanded international trade."

Stewart's views were echoed by William Hauck, President of the California Business Roundtable.

"Americans have watched proudly as our elected leaders have come together in these difficult times to take steps necessary for the protection of our national security. Protecting and building on our economic strength is a key factor in achieving that objective. While there is still work to be done on several economic packages, we are encouraged by the willingness of members of both parties to take up the issue and work together. We applaud President Bush for coming to Sacramento and pressing the case here in California."

California is the nation's top exporting state, with goods and services exports valued at $163.7 billion marketed abroad in 2000 — 15 percent of all U.S. exports. Trade supports 1,700,000 jobs in California.

The success of the North American Free Trade Agreement (NAFTA) has been copied by nations around the globe, with more than 130 new free trade agreements reached among U.S. competitors since NAFTA's enactment in 1993. The evidence of NAFTA's success is compelling.

In the seven years since NAFTA, California exports to Mexico have increased 192 percent, or $12.5 billion. Today, California exports to Mexico directly and indirectly support approximately 228,000 jobs, with more than 150,000 of these jobs resulting from export growth under NAFTA. Similarly, California exports to Canada have increased 98 percent, or $7.4 billion. California exports to Canada directly and indirectly support approximately 180,000 jobs in California, with 89,000 of those resulting from export growth under NAFTA.

# # # #

The California Chamber of Commerce serves as an advocate and resource for California employers and represents over 12,000 companies through out the State. For more information please contact us at (916) 444 6670 or visit our website at www.calchamber.com.

The California Manufacturers & Technology Association represents manufacturers and technology companies across California. For more information please contact (916) 441-5420 or visit the CMTA website at www.cmta.net.

The California Business Roundtable is a non-profit, nonpartisan organization composed of chief executive officers of leading California businesses. Since 1976, the California Business Roundtable has provided essential leadership on high priority public policy issues. Please contact (916) 553 4093 or visit www.cbrt.org.

Top | Home | Newsroom