Schwarzenegger heads to Russia with tech leaders

California Governor Arnold Schwarzenegger.
California Governor Arnold Schwarzenegger.
Han Myung-Gu/Getty Images

After finally ushering through an overdue state budget, Gov. Arnold Schwarzenegger is heading out on a trade mission to Russia to promote the high-tech industry.

Schwarzenegger and a delegation of Silicon Valley leaders were leaving Saturday for a five-day trip. His office said he hopes to connect Silicon Valley's business leaders and venture capitalists with their Russian counterparts, who hope to launch a similar technology hub in Russia.

Schwarzenegger said Russia's decision to emulate Silicon Valley also offers an opportunity for California companies to open up new markets and bring in new revenue.

The trip comes after Schwarzenegger on Friday signed into law a state budget that attempts to close California's $19 billion deficit. It came 100 days into the start of the fiscal year.