Economy

Economy

‘End of an era’: Silicon Valley mourns losing Great America

The clock is ticking down at the South Bay’s beloved amusement park, and residents throughout Silicon Valley have been reflecting on the loss. Cedar Fair Entertainment Company, which owns California’s Great America in Santa Clara, announced Monday that it is selling the 46-year-old property for $310 million to San-Francisco based Prologis, a national real estate...

New report paints grim picture of downtown San Jose

A new analysis shows downtown San Jose is reeling economically from the pandemic – more than its neighboring suburbs. According to the report, presented at a council committee Monday, the downtown’s recovery has been grim and economically lagging because many of its driving forces, including commercial projects and events, have not returned to pre-pandemic levels....

High gas prices have San Jose commuters seeing red

As gas costs continue to reach unsustainable levels, no one is immune to the pump pain. For those commuting miles to work, all are getting gouged equally.  While the state searches for solutions to the near $7 a gallon price at the pump, people like police officers, delivery drivers and traveling nurses are dealing with...

Full report: Silicon Valley Pain Index 2022

The Silicon Valley Pain Index is produced by the San Jose State University Human Rights Institute. The annual study focuses on racial discrimination and income inequality in the region. The report, first published in 2020 in response to the murder of George Floyd by Minneapolis police, was inspired by an index compiled about New Orleans in the...

Silicon Valley business group opposes proposed headcount tax

Santa Clara could ask residents to approve a business tax overhaul in November, despite opposition from regional commerce leaders. If passed, it could bring in millions. The Silicon Valley Central Chamber of Commerce sent a letter Monday to Santa Clara’s mayor and City Council opposing any “dramatic increase” in the business license tax companies pay....

Inequity in Silicon Valley persists for people of color

Life expectancy is shrinking, the poor are getting poorer and Silicon Valley’s wealthiest are flourishing. The 2022 Silicon Valley Pain Index report highlights how Santa Clara County generated $340 billion in gross domestic product in 2021—an increase of 4.4% since 2020—while nearly half of children in Silicon Valley are living in households who can’t make...

Downtown San Jose residents renew special property district

Property owners in downtown San Jose are saying yes to more taxes over the next 10 years. Nearly 89% of residents and businesses in a special district have voted in favor of renewing the downtown property-based improvement district (PBID) tax. Collected funds contribute to services such as cleaning, security and business development. The tax ranges...

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