Economy

Economy

Silicon Valley’s outdoor dining an obstacle for disabled community

For lifelong San Jose resident Michelle Mashburn, there are parts of the city where she can never go. That includes streets like San Pedro Square or Lincoln Avenue in Willow Glen, where sidewalks and parking spots have been converted for outdoor dining which isn’t wheelchair friendly. “I just avoid it altogether,” Mashburn told San José...

Tech layoffs won’t hurt downtown San Jose

Recent tech layoffs likely won’t prevent downtown San Jose from becoming a thriving commercial and residential hub. But uncertainty around remote work culture and lengthy timelines for completing major transit and development projects could spell years more struggle for the area and its businesses. Three regional experts said while tech company layoffs have captured big...

San Jose businesses frustrated by homelessness

Reza Farahani immigrated from Iran more than 20 years ago and opened his Lincoln Glass & Mirror business on Kruse Drive in North San Jose. He moved down the block a decade ago when his company expanded, but said in the last two years the surrounding neighborhood has become untenable because of rampant homelessness. Dozens of...

Silicon Valley businesses caught in fast-food law limbo

A landmark state fast-food law to improve worker conditions and wages is stuck in the courts. AB 257, which implements new standards for fast-food workers in California, is temporarily halted as of Friday. The law was supposed to take effect at the start of the year. Also known as the FAST Recovery Act, the law sets...

Why do San Jose residents avoid banks?

The number of Silicon Valley households without bank accounts has skyrocketed, a recent federal survey has found. According to a biennial survey conducted by the Federal Deposit Insurance Corporation (FDIC), the rate of unbanked households, or homes that do not have at least one bank account, jumped from 1.9% to 13.2% between 2019 and 2021...

San Jose is No. 1 metro area for immigrants

San Jose tops the list of U.S. metro areas where immigrants look for a better life. That’s according to a study released this month from the George W. Bush Institute that shows immigrants thrive in technology centers. San Jose is categorized as a fast-growing suburban area within a large metro region that draws immigrants from throughout the country. The...

New income program gives checks to Silicon Valley families

Some of Santa Clara County’s most vulnerable families are receiving $1,000 checks starting this week—the first of many. The Silicon Valley Guaranteed Income Program is giving 150 families $1,000 a month with no strings attached for two years. The program, run by housing nonprofit Destination: Home, prioritizes homeless and marginalized families while studying the effects of...

Santa Clara County loses revenue from Stanford’s property tax exemptions

The largest tax exempt entity in Santa Clara County is depriving neighboring cities of much-needed tax revenue, local leaders say. Stanford University received more than $16.8 billion in tax exemptions last year for its various campus properties, nearly half of the $35.2 billion of property tax exemptions in the county, according to the Santa Clara...

San Jose commission to divvy up millions from Google

A select group of San Jose residents have the job of spending about $155 million from Google—and they’re ready to get to work. The group, known as the Community Stabilization and Opportunity Pathways Fund Commission, is comprised of 13 residents who either have experienced homelessness or come from a field of advocacy, education or workforce development....