As much as I would like to believe this (since CA is so important to the American economy), I don't buy it.
CA still has:
(1) One of the high REAL unemployment rates in the country
(2) They have a unfunded pension problem and like all liberal states south of WI, they are not fixing them
(3) They cheer about a projected budget deficit! That is like cheering for a your team to lose by a just a field-goal. However, these projects are misleading. They are based off a certain about of growth, that may or may not (or won't hit). The growth projects are significant if (or better) when they don't hit it that deficit project goes way up.
(4) Still rated worst schools in the country.
(5) Hospitals are having a harder time remaining the black.
(6) Flight from CA is still extremely high.
(7) Illegal immigration is bankrupting the hospitals, schools and social services, the problems aren't getting dealt with so the problem keep growing.
(8) Still ranked top 3 worst place to start or do. Whenever a large corp talks about opening a new plant, relocating or moving HQ the usually suspects are named: OH, TX, IN, NC, TN etc you never hear CA (they're not even considered).
(9) Cost of Living is still INSANE in CA. You have to make north of $150K to be considered middle class! Food, gas, utilities, property, taxes etc are all higher and out of control!
(10) Welfare and entitlement spending is still out of control with no chance of getting reduced.
CA has so many problems, the article you posted it pastes a rosey picture that is far from reality!