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Economy

The COVID-19 pandemic brought a severe economic crisis to the United States economy and across the world - with supply chain disruptions, high unemployment, and other economic challenges that took a toll on Americans.

When President Biden took office, he worked with Congressional Democrats to jumpstart our economic recovery. With the enactment of the American Rescue Plan and other executive policies, Congressman Costa and Congressional Democrats fueled one of the strongest economic recoveries in our history and than any other country. Together, they have created over 13 million jobs nationwide, and lowered the unemployment rate from 6.4% to 3.4%, near the lowest in 50 years.

Americans are seeing the best economy for American workers in decades, with people getting higher wages, better benefits, and better jobs across the board. Through laws like the BipartisanInfrastructure Law, Inflation Reduction, and the CHIPS and Science Act, Democrats have unleashed record job creation with over 800,000 manufacturing jobs nationwide, including 79,000 jobs in California (the second largest in the nation) and investing in the first new memory chip manufacturing plant in America in 20 years. This will reduce American dependency on countries like China and renew our leadership in manufacturing.

In the San Joaquin Valley, Costa is working local and regional partners to create more, and better-paying jobs for Valley residents. Over the years, he has secured federal funding for local infrastructure, energy, and transportation projects that have resulted in thousands of jobs. Along with federal investments in local institutions for agriculture, automotive, and healthcare job pathway programs. 

Costa worked with the Central Valley Community Foundation and secured $88 million for the Fresno-Merced Future of Food Innovation (F3) Coalition to accelerate the integration of technology and skills in the region’s agriculture industry—improving productivity and driving a more resilient and sustainable food system. He also secured funding to help establish the Central Valley Career Technical training in West Fresno to assist individuals with job training and counseling.

Congressman Costa is committed to continuing to bolster job creation, strengthening our economy, and developing strong economic opportunities that will improve the lives of Americans here at home and across the nation.