OTHER NEWS - May 12, 1993

Study Calls State’s Long-Term Outlook Bright: California’s economy, which remains mired in recession, will nevertheless grow faster than the rest of the nation in the coming decade, according to a report to be released today by the Center for Continuing Study of the California Economy in Palo Alto. The state should add 4 million new jobs by 2005, the report concluded. Growth will result from a new economy based on foreign trade, high technology, professional services and tourism and entertainment. But the report cautioned that such growth would only occur with proper public investment to ensure a skilled work force, adequate infrastructure and a high quality of life.