State

May 2, 2014

The Buzz: Jerry Brown defends state's business climate as Toyota packs up

Gov. Jerry Brown, addressing Toyota’s plan to close its Torrance headquarters, said Friday it does not appear the state could have done anything to keep the car company in California.

Governor defends state’s business climate

Gov. Jerry Brown, addressing Toyota’s plan to close its Torrance headquarters, said Friday it does not appear the state could have done anything to keep the car company in California.

The governor cited a Los Angeles Times story in which Toyota attributed the planned move to Texas not to dissatisfaction with California, but to a consolidation plan.

Asked if the state could have done anything to keep the company here, Brown said, “Based on what they say, it doesn’t appear to be.”

Brown has been criticized by his GOP foes, Tim Donnelly and Neel Kashkari, for what they say are burdensome regulations for companies.

Brown defended California’s business environment. “There’s a fellow named Schumpeter who talked about the creative destruction of capitalism,” he said, referencing the economist Joseph Schumpeter. “And, I put the emphasis on creative, and change is inevitable. We’re getting 60 percent of the venture capital, we’re the No. 1 place for direct foreign investment in the United States. Do we have everything in all respects? No. But we have an abundance that constitutes a $2 trillion economy.”

– David Siders

Worth repeating

“I didn’t get the memo that the Webster’s dictionary people changed the definition of ‘conservative’ to mean voting for Obama, pro-choice, and pro-Wall Street bailouts.”

TIM DONNELLY, on fellow GOP gubernatorial candidate Neel Kashkari calling himself conservative.

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