INTRODUCTION

This summer, three major reports have been released that focus on California and its economy. 
Each report  looks at California from a different perspective that complement each in helping
understand the current economic conditions impacting the state but also illustrating opportunities
to address the issues to reverse its current course.

The three reports: Assessing the State of the Golden State by the Pacific Research Institute;
Manufacturing 2.0, A More Prosperous California by the Milken Institute and the California
Economy by the Public Policy Institute provide both individually some of the most significant
insight to the problems at hand with the state’s economy, but also make for some of the most
compelling writing about the state’s economy.

The California Business Minute has reviewed these reports and recommends that they should
be required reading for all business, community and economic development, workforce and
redevelopment professionals in the state.  The California Business Minute believes these reports
provide insightful and useful information in understanding the issues confronting the state's
economy but also provides insight on how to recover the state’s economy.  Hence, these reports
provide valuable information for all business, community, economic development, workforce and
redevelopment professionals in California.

These reports illustrate that the economic issues confronting California are more than cyclical
in nature.  The reports illustrate proactive steps that law makers, policy makers and all Californians
should and can take to reverse the economic illness that impacts the state.

Thus, the California Business Minute as a courtesy to its subscribers is honored to present this
overview.  The overview  is entitled, Harsh Realities:  The Issues Facing California and its Economic
Recovery.  It is presented in multiple parts:
 
Introduction 
Part 1:  An Overview of the Report - California Prosperity:  Assessing the State of the Golden State
by the Pacific Research Institute
Part 2: An Overview of the Report- Manufacturing 2.0, A More Prosperous California by the Milken Institute 
Part 3:  An Overview of the Report - California Economy by the Public Policy Institute of California 
Conclusion.

While the California Business Minute will provide commentary, insight and perspective as it pertains to
these reports, we hope that you will read all of the reports and draw your own conclusions.