According to a report by CNBC, earlier today Gavin Newsom, California’s Governor unveiled a business task force to build the State’s economy during this coronavirus outbreak.
Tom Steyer the philanthropist will co-chair the task force along with Ann O’Leary who is the Newsom’s chief of staff. The task force has more than 70 members in which Apple CEO Tim Cook is also a big part. The team also has Bob Iger the Disney Executive Chairman.
According to the CNBC, the task force will meet two times in one month till the end of this year. The purpose of this task force is to recover California from the economic crisis due to the COVID-19 pandemic. The economic state of the State has been declining ever since the start of this pandemic.
According to Gavin Newsom, there has been a massive downfall of the economy due to coronavirus. California is the world’s fifth-largest economy. Unemployment is also at its peak. According to the news, the unemployment records could top the 2009’s great recession, when 13% of people in California were unemployed. California is one of the most densely populated states in the USA. There have been very fewer cases for COVID-19 as compared to other states in the USA. The state has reported only 28,000 cases which include 970 deaths.
With the set up of this economic task force, the Governor expects that the recovery will take place sooner. The people who are on the team are highly qualified and have years of experience in maintaining economic strength in their respective companies/fields.