Sector Overview

California’s working lands and water sector is a powerhouse of agricultural production and innovation, driving the state’s economy across a diverse set of subsectors, including bioeconomy, blue economy, food processing, and agtech. Anchored by the Central Valley, which leads the nation in agricultural production and food/beverage processing, this sector blends natural abundance with cutting-edge advancements.⁴

The state leads the country in agtech startups, attracting an average of ~$1.5 billion in venture capital from 2020–2023, accounting for 37% of U.S. agtech VC funding.⁵ At least $100 billion in agriculture-related economic activity is generated in California annually.¹

California’s expansive coastline and organic resources are enabling the rapid growth of emerging industries. The blue economy, in particular, is expanding quickly, with 163% job growth over the past decade.⁶ Meanwhile, the state’s nascent bioeconomy is poised for long-term impact, rounding out a sector defined by innovation, scale, and sustainability.

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.

Research & Development Tax Credit 

A business may qualify for an income tax credit if it paid for or incurred qualified research expenses while conducting qualified research activity in California. Qualified research expenses include wages, supplies, and contract research costs.