Newsom announces $245M 'Jobs First' economic recovery plan amid California wildfires

LOS ANGELES - Gov. Gavin Newsom unveiled his plan to get California back on track in the wake of the deadly Palisades and Eaton fires.

What we know:

On Wednesday, Newsom introduced the "Jobs First" economic blueprint in Monterey Park. The project set aside $245 million in spending on new job programs. 

This comes after Newsom sent a request to Congress last week requesting nearly $40 billion in federal funding for wildfire relief.

By the numbers:

The project allocates $13 million for economic recovery in Los Angeles and $92 million for apprenticeship programs. Investments include $52 million for apprenticeships in high-demand sectors and $16 million for youth apprenticeships and $24.1 million is designated for healthcare job training, focusing on behavioral health and nursing.

The City of Los Angeles receives $10 million for small business relief and $3 million for recovery efforts.

Below were the figures requested by Newsom prior to the introduction of "Jobs First" blueprint:

• $16.8 billion: Requested from FEMA for property and infrastructure rebuilding, with $5 billion for debris cleanup.
• $9.9 billion: Sought from the Department of Housing and Urban Development for grants to fire victims, homeowners, businesses, and renters.
• $5.29 billion: Requested from the Small Business Administration for homeowner and business loans.

What's next:

The backstory:

In a letter to lawmakers, including House Speaker Mike Johnson and Rep. Tom Cole, Newsom emphasized the importance of federal support for Los Angeles, one of the world's most economically productive regions. 

The total economic loss from the fires is estimated to exceed $250 billion, with real estate losses alone potentially surpassing $30 billion.

What they're saying:

"Los Angeles is one of the most economically productive places on the globe, but it can only rebound and flourish with support from the federal government as it recovers from this unprecedented disaster," Newsom wrote in his letter to lawmakers.

"Make no mistake, Los Angeles will use this money wisely," he added.

Newsom issued the following statement on Wednesday, when the Blueprint was unveiled:

"California’s economic dominance and success are grown locally, with the contributions of each diverse region of our state. From agriculture to clean energy to film to every industry in between, our Golden State owes its success to the people, communities, and industries that make it work. I am proud of the collaborative work of Californians from every region who developed this statewide Economic Blueprint. California thrives because we work together, despite adversity and even disagreement. It is this collective resilient spirit that will help move Los Angeles forward and help us overcome any challenge that stands in our way."

Big picture view:

Estimates of the total economic loss from the firestorm have been estimated to surpass $250 billion — with real estate losses from the Palisades and Eaton fires predicted to potentially top $30 billion, according to a Los Angeles Times analysis.