California needs huge investment to create jobs

From Sac Bee:

California is struggling to emerge from the worst recession since the Great Depression and has more than 2 million unemployed workers, plus countless others who have given up seeking work out of frustration and/or have fled to other states.

Clearly the state needs many billions of dollars in job-creating investment. But its attractiveness to that investment is, to say the least, problematic, given its relatively high tax burden, its dense regulatory structure, its deficiencies in education, transportation and water supply, and its tangled government finances.