Office of Economic Development.

(1) Existing law provides for various state programs and services for the purpose of attracting and retaining businesses in this state. Existing law creates the Office of Small Business Advocate in the Office of Planning and Research in the Governor's office. This bill would create the Office of Economic Development, which would be administered by a director appointed by the Governor. The bill would require that the office serve the Governor as the lead entity for economic strategy and the marketing of California on issues relating to business development, private sector investment, and economic growth, and make recommendations to the Governor and the Legislature regarding policies, programs, and actions to advance statewide economic goals. The bill would create the California Business Investment Services Program, as specified, within the office, under the authority of the director, for the purpose of serving employers, corporate executives, business owners, and site location consultants who are considering California for business investment and expansion. The bill would also move the Office of Small Business Advocate to the Office of Economic Development. (2) Existing law requires the Secretary of Labor and Workforce Development to lead the development of a biennial California Economic Development Strategic Plan and, in doing so, to review the recommendations of the California Economic Strategy Panel, which is created for this purpose. Existing law requires the secretary to convene a biennial economic strategy panel, conduct meetings, and submit a report to the Legislature regarding its findings and recommendations regarding developing a system of accountability, as specified. This bill would delete the date for the submission of the report described above and instead require that the report also be submitted to the Governor's Office of Economic Development after the necessary meetings have been held.