Sector Overview
Financial and Professional Services account for about 8% of California’s gross domestic product (GDP), supporting key economic activities across sectors.1 This includes banking, investing, insurance, capital and risk management, accounting, and legal services, all of which drive business expansion, innovation, productivity, and job creation across all sectors.2,3
In 2023, the financial services sector accounted for approximately 190,000 jobs, while the professional services sector supported roughly 670,000 jobs. Of these, about 560,000 were in business services, and 110,000 were in marketing and publishing.1 These industries are critical to maintaining California’s economic strength and promoting continued growth across sectors.
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California Competes Tax Credit
The California Competes Tax Credit is an income tax credit available to businesses who want to relocate, stay, or grow in California. Our team provides no-cost consultations to see if your business qualifies.
