In 2025, data released by the International Monetary Fund (IMF) and the U.S. Bureau of Economic Analysis (BEA) revealed that California's economy has surpassed that of Japan, which now makes the state the fourth-largest economy in the world. California's nominal GDP reached $4.1 trillion, placing the state behind only the United States, China and Germany in global rankings. In addition, California's growth rate of six percent outpaced the expansion of top three economies: U.S. (5.3 percent), China (2.6 percent) and Germany (2.9 percent).
With state population increasing and recent record-high tourism spending, California is the nation’s top state for new business starts, access to venture capital funding and manufacturing, high-tech and agriculture.
In the following section, we’ll highlight some of the state’s biggest economic wins in 2025.
California Chosen as Headquarters for the National Semiconductor Technology Center
In late 2024, California was chosen as the site of the CHIPS for America Design and Collaboration Facility (DCF), as announced by the U.S. Department of Commerce (Commerce) and Natcast, the operator of the National Semiconductor Technology Center (NSTC). The DCF will be one of three CHIPS for America research and design (R&D) facilities and will also operate as the headquarters for the NSTC and Natcast. The DCF is expected to drive more than $1 billion in research funding and create more than 200 direct jobs over the next 10 years. It will serve as the center for advanced semiconductor research in chip design, electronic design automation, chip and system architecture and hardware security and will be integral to the country’s semiconductor workforce development efforts.
Medical Properties Trust Announces New Lease Agreement for Six California Facilities
In August, Medical Properties Trust, Inc. announced a lease agreement with NOR Healthcare Systems Corp. in conjunction with NOR’s successful bid for Prospect Medical Group’s California operations. The transactions are expected to close in 2025, subject to approval by applicable regulatory agencies. The six facilities will be subject to a master lease with initial annualized rent of $45 million, virtually identical to Prospect’s once-scheduled 2025 rent, and CPI-based annual rent escalators beginning in 2026. MPT has committed to funding up to $60 million in seismic improvements as may be required by California regulators over the next four years, which will increase the lease base and result in additional rent at the prevailing lease yield.
ZM Trucks Opens U.S. Headquarters, Assembly Plant in California
ZM Trucks, a manufacturer of zero-emission commercial vehicles, has announced the grand opening of its U.S. headquarters and assembly facility in Fontana, California. The event includes the U.S. debut of the company's ZM8 commercial truck, underscoring its commitment to delivering sustainable, cost-effective solutions for American fleets. The new facility spans 9.67 acres and includes a 210,000-square-foot factory floor and is located approximately 49 miles from downtown Los Angeles. The event also marks the relocation of the company's regional headquarters to Fontana, solidifying ZM Trucks' long-term commitment to advancing sustainable transportation solutions in the United States.
Joby Expands Manufacturing Capacity in California, Adds New Aircraft to Its Fleet
In July, Joby Aviation, Inc., a company developing electric air taxis for commercial passenger service, announced the expansion of its site in Marina, California, which will double its aircraft production capacity at that location. The total site now spans approximately 435,500 square feet and will support the scale-up of commercial operations. Joby also expanded its flight test program with the addition of a new aircraft to its growing fleet. Once fully operational, the expanded Marina site is expected to be able to produce up to 24 aircraft per year, which is nearly one every other week.
Bombardier Transitions Los Angeles-Based Component Manufacturing Activities to its New Moorpark Facility
In August, Bombardier announced the inauguration of its newly relocated and expanded component manufacturing facility in Moorpark, California. The milestone enhances the company’s U.S. operations and underlines Bombardier’s commitment to excellence in manufacturing. The Moorpark facility produces key components for the Global 7500 and Global 8000 business jets. Bombardier held a ribbon cutting ceremony at its new site on August 20, 2025, and welcomed Janice Parvin, Chair of the Ventura County Board of Supervisors representing the Fourth District, community leaders and Bombardier employees to celebrate the transition.
Amazon Invests $161.9 Million in Hesperia: Plans for 2.5 Million Square-Foot Warehouse Announced
In late 2024, Amazon announced it had made an investment in the Victor Valley, acquiring roughly 195 acres in Hesperia, California for $161.9 million. The purchase came with approved plans for a warehouse covering approximately 2.5 million square feet located on the north side of Phelan Road west of Highway 395, marking a substantial expansion of Amazon’s logistics capabilities in the region. The Victor Valley/High Desert region, where Hesperia is situated, already houses two operational Amazon facilities, indicating the company’s growing presence and investment in the area.
Switch Bioworks Opens New Headquarters in California
In August, Switch Bioworks, a biotechnology company focused on sustainable fertilizers, announced new senior leadership and a move to a new facility in California. The company has appointed Steve del Cardayre as Chief Technology Officer and Brett Boghigian as Chief Business Officer. The company also opened a new headquarters and R&D center in San Carlos, California. Switch’s new headquarters in San Carlos triples its R&D space, including fermentation capacity, laboratories, plant grow rooms and offices.
Anthro Energy Opens New Headquarters in Alameda
In June, Anthro Energy, a battery technology company focused on revolutionizing lithium-ion batteries with its advanced electrolyte technology, Anthro Proteus, announced the opening of a new corporate headquarters in Alameda. The move supports Anthro's next phase of growth, including scaling production capacity to more than 10 MWh of battery cells and more than 100 MWh of Anthro Proteus electrolyte annually. The company will now operate from a newly secured 31,748 square-foot facility at 2095 North Loop Road in The Loop, an advanced manufacturing park located near the Alameda waterfront and home to
innovators including Abbott Laboratories, Convergent Laser Technologies, Rondo Energy and Penumbra, among others.
Zscaler Announces Lease for New Global Headquarters in Silicon Valley
In May, Zscaler announced a new 301,163 square-foot sublease at 4301 and 4401 Great America Parkway in Santa Clara. The transaction established Zscaler's new Silicon Valley global headquarters to support the company's growth and its position as a leader in zero trust cybersecurity. Zscaler provides AI-powered solutions that protect enterprises. The new global headquarters, set to open in summer 2026, will provide a state-of-the-art workplace to accommodate Zscaler's expanding workforce, reinforcing the company’s commitment to innovation in the heart of Silicon Valley.
Amgen Invests $600 Million in New R&D Facility
In early September, pharmaceutical giant Amgen said it will spend more than $600 million to build a new research and development facility at its headquarters in Thousand Oaks. In the press release, Amgen said construction of the facility will begin in the third quarter of this year and will create hundreds of U.S. jobs. The facility is not a manufacturing plant, but it will allow researchers, engineers and scientists to collaborate on finding next-generation drugs for patients with the most serious diseases, said the company. The building will feature advanced automation and digital capabilities, providing scientists with the tools necessary for that research and development. T&ID
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