October 16, 2007

CalPERS claims $114 million boost to Central Valley economy

Investments by the California Public Employees’ Retirement System generated $114 million in economic activity in the Central Valley last year, according to a research report by funded by CalPERS. The report says CalPERS created more than 900 jobs in in 2006 in the Great Valley region – the area between Kern County on the south and San Joaquin County on the north. The investments returned state and local tax revenues of nearly $7 million and generated employee compensation of more than $27 million. The report was written by the Applied Research Center of California State University, Sacramento. CalPERS is the nation’s largest public pension fund with more than $250 billion in assets. It administers retirement and health benefit plans of 1.5 million active and retired California public employees and their families.

Filed under California Government, Central Valley, Economic Development by

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