can california compete for the u.s. manufacturing renaissance?
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Can California compete for the U.S. Manufacturing Renaissance?. Jack Stewart President & Dorothy Rothrock VP – Govt. Relations. AB 32 - Layering of New Costs on California Manufacturers. Immediate impacts 2012 through 2014 - PowerPoint PPT PresentationTRANSCRIPT
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Can California compete for the
U.S. Manufacturing Renaissance?
Jack Stewart President&Dorothy Rothrock VP – Govt. Relations
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AB 32 - Layering of New Costs on California Manufacturers
Immediate impacts2012 through 2014
• Auction tax – From $660 million to $3 billion (2012-13 budget year)
(assuming $10 to $50 per ton -- source: LAO)
• Electricity costs – $650 million to $2.6 billion to be raised and spent by the CPUC
Long term impacts2015 through 2020
• Up to $13 billion annual auction tax (starting in 2015)• Electricity cost increases – Almost $20 billion from RPS and Solar Initiative• Transportation fuels – 47 cents per gallon (Moody’s Investor Service)• Suppliers natural gas costs – up 8% (ARB econ analysis)
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Manufacturing Investment Principles
• Predictable Future Costs
• Competitive Costs
• Adequate Infrastructure
• Access to a Skilled Workforce