California will soon be on the receiving end of billions of dollars in public funding for economic development. An estimated $42 billion will come from the American Rescue Plan Act (ARPA) — the $1.9 trillion stimulus package designed to aid economic and public health recovery from the COVID-19 pandemic — and $48 billion from Infrastructure Investment and Jobs Act (IIJA), totaling $93 billion in federal investment. A further $46 billion will come from the state’s Community Economic and Resilience Fund (CERF) and from the state’s budget surplus.