With 38, 6 millions of inhabitants, California is the most populous state in the United States. The Golden State’s economy is the largest of any state in the US, and is the eighth largest economy in the world. As of 2008, the gross state product is about $1.85 trillion, which is 13% of the United States gross domestic product.
- Budget and economic context
California’s economy was affected by the downturn and recession in the state is more significant than in the rest of the country. The unemployment rate was 12,4% at the end of 2009; the situation in the real estate market in slowly getting better with increase of new buildings and building permit.
The budget crisis has forced the State Government to react radical programs:
A first vote of the budget saved $15 billions on several programs (education and health), $12.5 billions by increasing state incomes (tax and imposition), and $8 billions of additional incomes with the American Recovery and Reinvestment Act.
- California and France
California is the only State exporting to France with more than $2, 7 billion in 2008.  However, as a result of the economic downturn, the export went down by 19% between September of 2008 and 2009. California is the first state to welcome French FDI, with a significant number of employees: 400 French subsidiary companies employ more than 50.000 people.
The French presence is also diversified with big groups such as Bank of the West (BNP Paribas), AXA, Ubisoft, Alcatel-Lucent, Thales, Cap Gemini or LVMH, and with a very dynamic industrial base of High Tech start-ups.

Sources: French Embassy in the U.S, Economic and Local Department.