SACRAMENTO – Dickies, a Texas-based apparel company, recently announced it was relocating its headquarters from Fort Worth, Texas to Orange County, California. This announcement brings new jobs to California, adding to the state’s world-leading economy.
“California continues to lead the way with a strong job market and consistent economic growth. We are pleased to welcome Dickies to the Golden State — the fifth largest economy in the world and a welcoming place to grow and support their ongoing success.”
Governor Gavin Newsom
Dickies, a workwear and lifestyle apparel company, will open its new headquarters in Costa Mesa, California in early 2025. Its parent company, VF Corporation, also manages Vans, another well-known California-based apparel company.
California is the 5th largest economy in the world for the seventh consecutive year, with a nominal GDP of nearly $3.9 trillion in 2023 and a growth rate of 6.1% since the year prior, according to the U.S. Bureau of Economic Analysis. On a per capita basis, California is the second-largest economy in the world among large economies.
Most companies on the Fortune 500 list
This move puts Dickies in good company. California is home to the most Fortune 500 companies — beating out all other states, including Texas and Florida. California is home to 1.7 million private sector businesses that account for nearly 87 percent of California’s jobs. California is also home to 32 of the world’s 50 leading AI companies. California has one of the most equitable tax systems in the entire country, and is #1 in the nation for new business starts, #1 for access to venture capital funding, #1 for manufacturing, #1 for high-tech business, and #1 for agriculture.
Most revenue-generating companies
California also tops the list of Inc. Magazine’s annual rankings of the top 5,000 companies for revenue growth over the past three years, with 672 businesses generating 874,940 jobs and $317 billion in revenue over three years, and a median revenue growth of 1.637%.
Highest level of tourism spending
California has the largest market share of tourism in the nation. Travel spending in the state reached an all-time high of $150.4 billion last year, surpassing the record $144.9 billion spent in 2019 – spending that is 3.8% higher than 2019 and 5.6% higher than 2022.
The new travel-spending record generated $12.7 billion in state and local tax revenue by visitors in 2023, marking a 3% increase over 2019. Tourism created 64,900 new jobs in 2023, bringing total industry employment to 1,155,000.
