We invest in the most promising companies and projects globally to generate returns for our members, and a large share of those investments is in California, the world’s fourth-largest economy. Our investment dollars help California-based companies thrive, support jobs, and foster economic growth, as shown in our recently published CalPERS for California report (PDF).
According to the report, as of June 30, 2024, our investments in companies doing business in the state were valued at $78.7 billion. That’s an increase in value of approximately $18 billion compared to the prior year.
On top of that, a portion of those investments generated an estimated $45.9 billion in economic activity and supported 173,608 jobs in California.
How do investments boost the economy and support jobs?
In addition to helping companies grow, our investment dollars increase economic activity in the communities where those businesses are located. Businesses can use the money to pay their suppliers and employees, who will spend it elsewhere. As the economy expands in this way, businesses grow, and larger tax receipts can finance community resources and infrastructure.
Where did the investments go?
We direct our investing dollars to companies, projects, and real estate that promise the best investment returns. This happens across the state, from El Dorado County in Northern California to San Diego County in Southern California.
In addition, many companies operate in central business districts, as these regions serve as hubs of economic activity. Our investments also benefit the diverse populations living in those areas.
Investments were made to different types of assets, like real estate and privately owned companies, known as private equity. CalPERS’ private equity investments in the state were valued at $6.6 billion and supported 38,432 jobs in California.
Lastly, we invested in companies operating in industries such as health care, energy, and utilities.
Review this helpful CalPERS for California factsheet (PDF) for a quick rundown of our investments in the state.