Israeli Startups Created 22,650 Jobs in California in 2024

California welcomed an economic bright spot in 2024 as 367 Israeli-founded companies created 22,650 jobs and pumped billions into the state's economy.

The U.S.-Israel Business Alliance released findings Tuesday showing these companies generated $8.9 billion in total business activity. They added $6.5 billion directly to California's economy, similar to what economists measure as gross domestic product.

But here's where it gets really interesting. Workers at these companies earned an average of $175,093 annually, nearly double California's overall average of $88,255.

"That's the most eye-popping statistic," said Aaron Kaplowitz, president of the alliance. "It's almost exactly double the average earnings at jobs not created by Israeli-founded companies."

The jobs spread across California's biggest counties. Santa Clara County saw the most impact with 11,002 jobs, followed by Los Angeles County with 2,701 positions, San Francisco County with 2,315, and Orange County with 1,015.

Thirty-two of these companies reached "unicorn" status, meaning they're each valued at over $1 billion. That's more than any other state, beating even New York.

Most of these companies work in tech fields like custom computer programming, software publishing, and computer equipment manufacturing. The fourth biggest industry? Restaurants, as food entrepreneurs followed the tech workers creating new demand.

The Ripple Effect

When high-paying companies set up shop, they don't just create direct jobs. They spark entire ecosystems around them.

Kaplowitz pointed to hummus restaurants and other Israeli businesses popping up naturally to serve the growing tech worker population. "There's a byproduct of an Israeli-founded company succeeding," he explained.

The alliance identified and confirmed all 367 companies through registered databases, working with UC Berkeley students. While California ranks second to New York in total Israeli-founded companies (which has 648), it leads in several key economic metrics.

Kaplowitz hopes state officials will take notice. "State elected officials should publicly say that California is open for business to Israeli entrepreneurs," he told reporters.

California's results mirror similar positive impacts the alliance has documented in New York, Virginia, and Florida, where international innovation continues strengthening American job markets and lifting worker wages.