Bill > AB2745

This bill aims to enhance California's international trade and investment efforts by expanding the activities of the Governor's Office of Business and Economic Development (GO-Biz) and establishing a new advisory body. It will broaden the program's scope to include facilitating foreign-owned subsidiaries, supporting collaborative research, fostering multinational cooperation, connecting global partners with California's innovation ecosystems, and promoting cultural exchanges. A key provision is the creation of the Global Partnership Advisory Body, a statewide business partnership that will advise the GO-Biz director on international trade and investment priorities. The bill also mandates that GO-Biz develop and present a five-year strategy for international trade and investment to the Legislature, which will be developed in consultation with the advisory body and undergo public hearings. Furthermore, GO-Biz will be authorized to establish regional hubs within California to support international trade and investment, in addition to its existing authority to establish offices outside the United States. Finally, the bill increases the amount the director can expend from the Economic Development and Trade Promotion Account for international market development activities from $200,000 to $500,000 and expands the purposes for which these funds can be used, thereby making an appropriation.

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202520260AB2745