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Written by: State Controller's Office

Published: 20 November 2009

Created: 20 November 2009

Last Updated: 20 November 2009

SACRAMENTO – State Controller John Chiang has released his monthly report covering California’s cash balance, receipts and disbursements in October.

While year-to-date revenues remain below the amended 2009-10 budget’s estimates by $854 million, October receipts alone were up $285 million (7.1 percent).

“October’s receipts are a welcome break from a largely negative trend line for the last two years,” said Controller Chiang. “However, high unemployment, excessive borrowing, an ailing construction industry and legal challenges to the budget remain real threats to the State’s cash outlook.”

The state started the fiscal year with an $11.9 billion cash deficit in the General Fund, which grew to $23 billion by Oct. 31. Those deficits are being covered with a combination of $14.2 billion of internal borrowing from special funds and $8.8 billion in short-term revenue anticipation notes.

With expenditures running $1.2 billion below projections and $1 billion in additional external borrowing, the State’s overall cash position on October 31 was $1.2 billion ahead of projections.

Personal income tax revenues for the month were $10.5 million above estimates (0.4 percent), corporate taxes were up $248 million (151.3 percent), yet sales taxes came in $102 million lower than expected (-8.9 percent).

The October financial statement and the summary analysis can be found on the Controller’s Web site at www.sco.ca.gov .

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Written by: California Department of Agriculture

Published: 20 November 2009

Created: 20 November 2009

Last Updated: 20 November 2009

SACRAMENTO – California trade organizations are receiving more than $33.7 million to support the international promotion of food and agriculture products as part of a US Department of Agriculture program.

Funding allocated under the Market Access Program and the Foreign Market Development Cooperator Program will help California trade organizations and companies match industry funds with federal government funds to expand international markets for California products.

“International trade is vital to California agriculture,” said California Agriculture Secretary A.G. Kawamura. “This funding will assist in opening foreign markets, reducing trade barriers and increasing consumer purchases of California grown products around the world.”

California is the largest agricultural producer and exporter in the nation with more than $36.6 billion in agricultural production and $10.9 billion in exports.

On average, California farmers export an estimated 28 percent of the products they produce.

Leading export markets for California include: Canada ($2.2 billion); the European Union ($2.1 billion); Japan ($957 million); and China/Hong Kong ($638 million). Top export products in 2007 included: almonds ($ 1.8 billion); dairy and products ($963 million); wine ($815 million); table grapes ($553 million); and cotton ($505 million).

California trade organizations that received USDA program allocations included:

• Blue Diamond Growers/Almond Board of California, $2,869,947;

• California Agricultural Export Council, $1,120,951;

• California Asparagus Commission, $138,313;

• California Cherry Advisory Board, $701,732;

• California Cling Peach Advisory Board, $163,267;

• California Fresh Tomato Growers/Florida Tomato Committee, $121,743;

• California Kiwifruit Commission, $289,770;

• California Pear Advisory Board, $479,327;

• California Pistachio Export Council/Cal-Pure Pistachios Inc., $950,000;

• California Dried Plum Board, $3,499,819;

• California Strawberry Commission, $618,693;

• California Table Grape Commission, $3,648,818;

• California Tree Fruit Agreement, $2,375,233;

• California Walnut Commission $4,604,059;

• Raisin Administrative Committee, $2,905,258;

• Sunkist Growers Inc., $2,137,619;

• Wine Institute, $7,171,958.

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Written by: Editor

Published: 19 November 2009

Created: 18 November 2009

Last Updated: 18 November 2009

WASHINGTON – Congressman Mike Thompson (D-St. Helena) has introduced legislation to boost solar panel manufacturing in the United States.

H.R. 4085 will offer a significant tax credit to solar manufacturers, which will stimulate job creation here in the United States. Representatives Dave Camp (R-MI), Lloyd Doggett (D-TX) and Patrick Tiberi (R-OH) are original cosponsors of the bill.

“Solar energy creates more jobs per megawatt of energy than any other source of energy. Currently, only 5 percent of solar products are produced within the United States,” said Congressman Thompson. “This bill would add incentives for companies to produce these products domestically and create good jobs. In these troubled economic times, we need to do all that we can to add jobs and move towards energy independence.”

“The bill we have introduced today will help grow the solar industry and help create much needed jobs for the American people,” said Congressman Camp. “This is exactly the jobs-creating program we need to focus on, and with such high unemployment rates around the country, this sort of manufacturing is just what states like Michigan need.”

“This bill would provide important incentives to American manufacturers,” said Congressman Tiberi. “I believe these incentives would help companies transition to the manufacturing of tomorrow, help bring good jobs to Ohio and across the entire country, and help make us a leader in the production of new technologies.”

“In Texas especially, we have no shortage of sun. Boosting green energy grows green jobs here at home and makes clean energy affordable for more Americans,” said Congressman Doggett.

Congressman Thompson successfully included provisions in the American Recovery and Reinvestment Act that provide for temporary tax credits for solar manufacturers through the end of 2010.

This bill extends the provisions of ARRA so that manufactures have a dependable incentive to drive long-term job growth and investment.