CA AB2596

Requires the Governor's Office of Business and Economic Development (GO-Biz) to lead preparation of a California Economic Development Strategic Action Plan covering a five-year period with biennial reviews.

Mandates GO-Biz to commission a comprehensive study evaluating economic development challenges, state competitiveness, workforce systems, infrastructure adequacy, and effectiveness of existing economic programs benchmarked against 10 or more competitor states and regions.

Establishes an advisory group of business, labor, government, academic, and community representatives to review the study, evaluate public comments, and assist in preparing the action plan with focus on upward mobility, innovation, and regional economic development.

Requires the first action plan to be posted and submitted to the Legislature by January 10, 2020, with subsequent plans every five years, and requires publication of performance indicators and metrics within 120 days of submission.

Authorizes GO-Biz to accept nonstate funds including federal and private sector donations for the study and plan development, with private donations capped at 25 percent and deposited into a newly created Economic Action Plan Account in the California Economic Development Fund.