California § 12099.8 - The office shall develop industry strategies for the strategic sectors identified

§ 12099.8. The office shall develop industry strategies for the strategic sectors identified

(a) The office shall develop industry strategies for the strategic sectors identified in the California Jobs First State Economic Blueprint to ensure an industry-specific approach that builds on the strategies outlined in the blueprint and outlines the activities and investments necessary to ensure that these sectors continue to grow in California. (b) The industry strategies shall build upon California’s comparative advantage, including its concentration of academic, scientific, and technological assets, coupled with a highly skilled workforce. The industry strategies shall include prioritizing access to tax incentives, grants, loan programs, and workforce training programs to catalyze private sector investment in the respective sector. (c) Each industry strategy shall contain all of the following elements: (1) An industry overview outlining the current state of the industry, why it is critical to California, and the specific strategies that would lead to increased jobs and capital investments. (2) Identification of the key dependencies and risks associated with implementing the strategies. (3) Identification of projects and programs that will most quickly improve the economic vitality of the industry, and the types of public-private partnerships between government, academia, and private investors that will be critical to access the funding necessary to accelerate the industry. (4) An analysis of relevant state policies and regulations to identify opportunities to grow the industry and determine whether alternative approaches may accomplish goals in less costly ways. (5) A summary of sector-level outcomes expected with the implementation of the strategies. (6) A dedicated section on the State of California’s internet website that is managed and updated with industry-specific information. (d) (1) The office shall also develop an industry strategy for the quantum technology subsector identified in the blueprint and may develop industry strategies for the other subsectors identified in the blueprint. (2) The office shall prioritize the industry strategy for quantum technology and submit a copy of the completed industry strategy to the Legislature on or before July 1, 2026. The industry strategy shall be submitted in compliance with Section 9795. (3) The office shall develop the industry strategy for quantum technology with engagement from key stakeholders in the regions that have identified quantum technology as a priority.