Welcome back to the Sunstone Way!
It’s almost Election Day – a truly important day for our country and our state. Thanks to California’s mail-in voting, many of us have already cast our ballots. Early voting at polling places will start soon.
Nov. 3 is the date to remember. Please vote by then. It’s important!
Looking Forward
This is a transition year for California. Gov. Gavin Newsom is stepping down after eight years leading our state. There will be other changes at the state level as well – the offices for lieutenant governor and others will have new occupants.
The gubernatorial candidates for the major parties are Democrat Xavier Becerra and Republican Steve Hilton. According to the state, there are almost twice as many Democrats registered (10,381,340) as Republicans (5,804,699), so Becerra is considered the favorite by most pundits. But there are another 6.8 million registered voters who are either no party preference or another party, so we’ll wait for the final result.
Regardless of who wins, it is important that we have a plan to continue the economic development policies that have allowed California to become the fourth largest economy in the world. I have opinions about other important policies – environmental, workforce development, etc. – too, but let’s focus on the Sunstone Way here. That’s helping our communities be great places to live and work through investment and innovation, in case it might have slipped your mind!
Working Together
One of the best ways to make progress upstream is to have everyone rowing in the same direction. It’s one of the reasons why we attend so many conferences and summits – we are able to meet with our peers and come up with a consensus.
The California Association for Local Economic Development (CALED) is a great organization for that approach. It is made up of more than 1,100 public and private local economic development professionals with boots on the ground in California, dealing with real issues impacting their communities. So when this group speaks, we listen.
CALED recently released a set of economic development policy recommendations it plans to present to the new governor, whomever that may be. The document is comprehensive, focusing on how the state and local governments can work together to create economic success.
You know how I feel about working together – it is the only way to go! I’m particularly pleased that CALED prioritizes maintaining and strengthening GO-Biz, the California Governor’s Office of Business and Economic Development. We work with GO-Biz here at Sunstone with referrals to their many economic development programs (the public in Public-Private Partnerships), and admire the agency’s innovation and impact.
Broad Perspective
CALED’s recommendations run the gamut of state and local economic challenges. While the document addresses broad issues like bolstering California’s economic strengths, it does so with specific proposals. For example, there is a recommendation to expand targeted tax credits – then the Cal Competes program, Film Tax Credit, and Research and Development Tax Credit are all listed.
Another recommendation calls for the state to fund affordable housing, but adds that it must be done in conjunction with local economic development to support the people moving into those homes. Technical assistance and support for access to capital for small business – both pillars of the Sunstone Cities mission – are urged.
Speaking of financing, CALED is urging the state to take advantage of its size and leverage to help deliver an infill infrastructure financing package and an investment package for rural communities. That’s the kind of help government can provide where there are few other alternatives.
Future Awaits
California long has been known for innovation in manufacturing and new industries. Our heritage in aviation is being carried on in both the atmosphere and in outer space at places including Space Beach in Long Beach. Computers were born in California garages, and the juggernaut of Artificial Intelligence started right here, too.
That kind of innovation creates new jobs requiring new skills. It is critical that the state keeps up with workforce training requirements, whether that’s at community colleges, universities or trade schools, and CALED is urging the next governor to support that effort both materially and in concept.
These recommendations and more will be anything but easy to follow. That’s why CALED and many other organizations are ready and willing to help. Sunstone is there as well. Because that’s the Sunstone Way!
Get out and vote – it’s how we can all be Sunstones.
John Keisler
CEO & Managing Partner
Sunstone
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Sunstone Investment Group, headquartered in Southern California, is the holding company for the Sunstone family of entities, including: Sunstone Investment Management Services, responsible for administrative services; Sunstone Advisors, an SEC-registered investment adviser, which oversees Sunstone Venture Partners LLC, a private capital fund manager; Sunstone Cities, a government economic development consulting firm; and Sunstone Community Fund, a charitable organization that supports entrepreneurship. Sunstone is dedicated to enriching lives through investment, entrepreneurship, and community.
The information and opinions expressed in this blog are those of the Sunstone Investment Group and are provided for informational purposes only. This content is provided for general informational purposes only and does not constitute investment advice, a solicitation, or an offer to buy or sell any security or financial product. The opinions expressed herein are subject to change without notice and should not be relied upon as the basis for any investment decision. Readers are encouraged to consult with their own legal, tax, and financial advisers before making any investment decisions.
Email us at contact@sunstoneinvestment.com.
©Sunstone, 2026