California stands today at a profound inflection point, caught between the tectonic shifts of industrial restructuring and the dawning "AI Era." To the casual observer, the data might suggest a retreat: a 2.9% contraction in creative economy employment over the past year, driven largely by a "boom and bust" cycle in streaming production and structural changes in Los Angeles's film and fashion sectors. Yet, for those who understand the mathematics of human capital — leaders like California State Treasurer Fiona Ma — the underlying narrative is one of transformation, not decline.
The latest research from Otis College of Art and Design reveals a "fundamental rebalancing." While support roles are being shed, the number of core creative professionals grew by 2.1% in 2025. These workers are the "central nervous system" of our state, commanding an average annual wage of $249,214 — a figure that has surged 221% since 2010. This is the "California premium": our state accounts for only one in five creative jobs in the U.S., yet our workers earn nearly one-third (31.7%) of all creative wages nationwide.
As an organization of Certified Public Accountants, we often view the world through the lens of risk and return. In this context, Fiona Ma's career offers a masterclass in strategic advocacy. A CPA herself, Ma recognizes that "creativity fuels prosperity." Her personal history — raised by a high school art teacher who taught that the arts develop discipline and problem-solving — informs her belief that culture is not a luxury; it is an investment. Through the California Creative Finance Network, she has bridged the gap between traditional capital and independent makers, ensuring that the "soul of the city" has the liquidity it needs to thrive.
The Honorable Fiona Ma, California State Treasurer
The current anxiety surrounding Artificial Intelligence serves as a vital case study in this intersection of finance and art. While headlines frame AI as a job-killer, the Otis College report finds it is not the primary driver of job losses. Instead, AI is "replacing tasks, not workers." It handles the convergent work — rotoscoping, footage logging, transcription — while creating a new "automation tax" in the form of human supervision and quality control. The real displacement is being driven by California-specific cost pressures and "industry restructuring," not algorithms.
Treasurer Ma's vision for California's Next Chapter is built on this very distinction. She understands that our competitive advantage is not just technology, but the people who inspire. By co-sponsoring the state's first Film and Television Tax Credit in 2009 and continuing to advocate for its expansion in 2025, she has worked to protect the middle-class jobs that form the bedrock of our creative ecosystem.
As we look toward the 2026 Lieutenant Governor election, the message for the ACCA community is clear: Leadership is about inspiring possibility. We must move beyond simply adopting policies to actively investing in the "dreamers whose imagination shapes tomorrow." California remains the world's leading center of innovation not because of its institutions, but because it is home to a workforce that can bridge the "context gap" that machines cannot reach.
Culture, in the vision of Fiona Ma, is not a luxury. It is a blue-chip investment in the people who define our state's identity and its prosperity.
Credits:
• Lead Editorial Writer: ACCA JOURNAL EDITORIAL
• The Honorable Fiona Ma, California State Treasurer
• Research & Data: Otis College of Art and Design; Westwood Economics and Planning Associates (Patrick Adler and Taner Osman)
Supporting Institutions: Snap Foundation, California Community Foundation, and Sony Pictures Entertainment
www.otis.edu/about/initiatives/creative-economy/dashboard.html
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