harks back more than 120 years to 1903, when air pollution measures were first introduced to address horrible smoke emissions in California’s booming industrialized cities. Since then, continuous legislation to address the state’s air quality has been passed into law, culminating in the 2018 Coalition for Clean Air, a statewide organization working exclusively on air quality issues. To what effect? Wayne B. Gray is an economics professor at Clark University in Worcester, Massachusetts, whose research is focused on the economic impact of government environmental regulations. A few years ago,
survey asked respondents to report on what made them hopeful about California’s future directions, where the state could invest more, and how well policymakers understood and acted on the biggest threats facing the state. The results clearly showed that the respondents are bullish about the future of California’s innovation ecosystem. But, at the same time, they see several important areas for improvement. Their key priorities include: 1) investing in research and technology to solve big problems facing the state, particularly with respect to climate change; 2) investing more in advanced tech manufacturing; 3) increasing investments in new areas of the state, particularly in places with higher educational institutions and research assets; 4) investing in racial and gender equity to unleash the state’s innovation potential; and 5) increasing the expertise of state government with respect to science and technology, including tech policy. In his State of the State address last spring, Governor Gavin Newsom summarized his administration’s California roadmap, particularly in those areas that impact California’s economy and business climate. He said, “We are doing the hard work that will set the course for California’s future—remaking our system of public education; building more housing faster; increasing access to quality, affordable health care; protecting our climate; ensuring public safety; and investing in new industries that will change the world we live in, and put a new generation of Californians to work.” With all its notable challenges, it’s clear that California plays the game at a level the 49 other states can only aspire to. The Golden State has all the tools, talent and visionary leadership to, in Newsom’s words, “return, restore and rebuild” the California dream, and make it “achievable for everyone who calls [this] great state home.” And that is certainly good for business.
he authored an exhaustive study to assess the impact of environmental protection legislation on businesses, as well as on the public at large. “Environmental regulations do, in fact, raise production costs at regulated firms—though in most cases, the costs are only a small fraction of a firm’s total costs,” Gray said. But, overall, he added, “Environmental regulations
“ The benefits to society from environmental
regulation appear to be much larger than the costs of compliance.” WAYNE B. GRAY PROFESSOR OF ECONOMICS CLARK UNIVERSITY
have had enormous benefits in terms of lives saved and illnesses averted, especially through reductions in airborne particulates… The benefits to society from environmental regulation appear to be much larger than the costs of compliance.” A better future While the jury may still be out on California’s business climate, the state is charging ahead, operating at the higher end of the nation’s economic engine. What’s more, the California 100—an assemblage of the state’s leading thinkers, business leaders and academic scholars—engaged an exhaustive study to answer the following question: “How can we envision and catalyze a dramatically better future for our state, and how can
we expand our capacity for research, policy innovation and collective action to make that vision a reality?” As a part of their voluminous work, the group conducted a survey among leaders in California’s innovation and research sectors, with a heavy focus on academic and industry researchers, educators and business leaders. The
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IN YOUR CORNER ISSUE 16 | 2024
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