California celebrates Genentech’s 50th anniversary

Genentech was the founder of the modern biotech industry and was integral to making California the biotech leader it is today. Genentech has made over 40 medicines available for people with serious diseases and received over 40 US Food and Drug Administration Breakthrough Therapy Designations since 2013. The company has committed $50 billion to American manufacturing, and with its headquarters in South San Francisco, the company continues to invest in California – including a $450 million manufacturing facility in Oceanside that will soon be one of the most advanced commercial-scale biotech production facilities in the world. 

California has remained a driving force in global technology and innovation. As Genentech marks its 50th anniversary, that legacy of innovation continues across California, where collaboration and creativity drive the next generation of technological advancement. From early breakthroughs to today’s advancements, the work happening here continues to shape how people live and connect—driving progress well beyond California.

California’s innovation economy dominates 

California’s industries are fueling the nation, with 41 California-based technology firms producing a 603% total return over the past decade. That’s four times the gain of their global peers in the past two, three, and five years. 

California companies received 62% of all U.S. venture capital funding and 31.5% of all venture capital deals last year. Health care contributed 52% to California’s GDP in 2025, despite MAGA attacks on the industry. 

California is home to 33 of the top 50 privately held AI companies worldwide and leads with 25% of all AI patents, conference papers, and companies. We lead U.S. demand for AI talent. California is home to three of the four companies that have passed the $3 trillion valuation mark: Google, Apple, and Nvidia. These California-based companies are tech companies involved in AI and have created hundreds of thousands of jobs. Last week, Governor Gavin Newsom celebrated Apple’s 50th anniversary.

California dominates in life sciences 

California is advancing career pathway initiatives to create good-paying jobs — with and without a college degree — while investing millions to bolster the life sciences sector as a part of the California Jobs First initiative. The state’s universities and private sector are also fueling breakthroughs in biotech, with the state investing $55 million of its higher education R&D in the industry. It is no surprise, then, that one in four U.S. Nobel Prizes in science have gone to a California institution, and that California is home to more Nobel Prize winners than any country in the world except the U.S. itself.

Further underscoring the strength of the Golden State’s life sciences sector, in 2024 alone:

• The sector contributed $396 billion in economic output statewide, bolstered by over 17,200 establishments supporting more than 1.15 million jobs, 452,000 of which are directly employed in the life sciences. Manufacturing-focused roles make up 31.2% of the state’s total life sciences workforce, ranking California above Massachusetts, New York, Pennsylvania, and Texas.
• California life science companies raised over $63 billion in VC investment, far more than any other state.

Companies exported $8.3 billion in pharmaceuticals and medicine products, and the state was the #1 exporter of medical equipment and supplies.