International trade and investment: Global Partnership Advisory Body.

Plain English Breakdown

The bill summary does not provide specific details on the conditions for establishing regional hubs or the competitive designation process.

Global Partnership Advisory Body for International Trade

This bill creates the Global Partnership Advisory Body to advise GO-Biz on international trade and investment, updates the strategy development process, authorizes regional hubs within California, and increases funding from $200,000 to $500,000.

What This Bill Does

• Creates a Global Partnership Advisory Body to provide advice to GO-Biz on international trade and investment strategies.
• Requires GO-Biz to develop a 5-year strategy for the International Trade and Investment Program in consultation with the advisory body and hold at least one public hearing.
• Authorizes GO-Biz to establish regional hubs within California to support international trade and investment through a competitive designation process.
• Increases funding available from $200,000 to $500,000 for activities related to promoting international trade and investment.

Who It Names or Affects

• The Governor’s Office of Business and Economic Development (GO-Biz)
• Businesses involved in international trade
• California residents who benefit from increased economic opportunities

Terms To Know

Global Partnership Advisory Body

A group that advises GO-Biz on how to improve international trade and investment.

Economic Development and Trade Promotion Account

An account in the state treasury used for funding activities related to promoting international trade and investment.

Limits and Unknowns

• The bill does not specify how many members will be on the Global Partnership Advisory Body.
• It is unclear what specific conditions must be met before GO-Biz can establish regional hubs within California.
• The exact details of the competitive designation process for establishing regional hubs are not provided.

Official Summary Text

AB 2745, as amended, Fong.
International trade and investment: Global Partnership Advisory Body.
Existing law requires the Governor’s Office of Business and Economic Development (GO-Biz) to develop and implement an International Trade and Investment Program, which among other things, attracts employment-producing direct foreign investment, and states related findings and declarations of the Legislature. Existing law requires the Director of the Governor’s Office of Business and Economic Development to provide to the Legislature, and update every 5 years, a strategy for international trade and investment, as specified.
This bill would recast these provisions to, among other things, expand the required program activities. The bill would also require the office to convene the Global Partnership Advisory Body, a statewide business partnership for international trade and investment, that would advise the director, as specified. The bill would
require the director to provide to the Legislature a 5-year strategy for the implementation of the international trade and investment program, developed in consultation with the advisory body, which would give input on goals, performance metrics, and implementation tactics. The bill would require the strategy to be reviewed in at least one public hearing, as specified, and would make other conforming changes.
Existing law authorizes GO-Biz to establish an international trade and investment office outside the United States if specified conditions are met.
This bill would also authorize GO-Biz to establish regional
trade assistance
hubs within California to
support
facilitate
international trade and investment if specified conditions are
met,
met through a specified competitive designation process,
and would make other conforming changes.
Existing law establishes the Economic Development and Trade Promotion Account in the Special Deposit Fund within the State Treasury. Existing law authorizes the director to expend funds in the account, and any other state, federal, or private funds for international trade and investment offices or international trade shows or activities related to promoting international trade and investment events by entering into contracts to support international market development activities, including, but not limited to, trade shows, trade missions, promotional events, and
seminars, as well as staffing support for those activities, in an amount not exceeding $200,000, except as specified. Existing law authorizes GO-Biz to accept moneys, including, but not limited to, state, federal, and private sector funds, for the purposes of operating any international trade and investment office or international trade show or activity related to promoting international trade and investment events.
This bill would increase the amount that the director can expend from the account as described above to $500,000 and would expand the purposes for which the funds can be spent, thereby making an appropriation. The bill would make other conforming changes relating to funds donated by a private donor for an international trade and investment office.

Current Bill Text

Download Bill PDF