Gov. Gavin Newsom did not commit to having $500 million from Silicon Valley companies included in the coming year's spending plans.
Newsom said the state’s housing problems had been exacerbated by the growth of technology companies, which have fueled an increase in jobs without corresponding growth in homebuilding.
Gov. Gavin Newsom wants the tech industry to help pay for new housing. But not for the neediest Californians » Later in January, Newsom said he hoped to announce a deal with tech leaders that would outline their contributions within four to six months. “I said I wanted it to happen,” Newsom said. “I didn’t say it would happen. I said, ‘I'm hoping it happens.’ By the way, we’re doing pretty good on our hopes and expectations. So stay tuned. I can't do everything in the first 120 days.”
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