Economy

Economy

San Jose mayor’s budget targets homelessness, public safety

San Jose Mayor Matt Mahan’s top issues—homelessness, public safety, growth and blight—haven’t changed since he took office, but tackling them is going to require an aggressive approach. Mahan released his budget proposal this week, which outlines how he plans to allocate millions of dollars to address the city’s top problems. The proposal, which the San...

Dozens line up to pull money from Silicon Valley Bank

In the wake of the tumultuous shut down of Silicon Valley Bank and a weekend of uncertainty that has made national headlines, the local impact of the financial institution’s collapse in the tech-driven region was clear by the dozens of people who lined up outside the bank’s Santa Clara branch Monday. Everyone was hoping to...

San Jose mayor blasts ‘weak’ government response to Silicon Valley Bank collapse

In the aftermath of the collapse of Silicon Valley Bank, San Jose Mayor Matt Mahan is blasting the federal government’s approach to the crisis — calling it “weak” and “half-hearted.” U.S. Treasury Secretary Janet Yellen said during a Sunday morning broadcast of Face the Nation that the government could not commit to guaranteeing the deposits...

Proposed tax law threatens billions in San Jose funding

The San Jose City Council will decide whether to oppose a state ballot initiative Tuesday, which officials say would hobble the city’s ability to provide basic services. The initiative, dubbed the Taxpayer Protection and Government Accountability Act, would make it more difficult for state and local governments to pass new taxes and fees. If passed, local governments...

San Jose officials call for street vendor protections

San Jose officials have a message for street vendors: report any attacks, because the city is listening. San Jose’s Latino councilmembers and a coalition of a dozen local advocates gathered Thursday to reassert their commitment to protect street vendors and highlighted services available to them following recent attacks on two vendors near downtown. “Street vendors...

San Jose’s low-budget airline could boost tourism

San Jose Mineta International Airport is adding Spirit Airlines to its carriers—and some say that’s not necessarily the best news. “I’ve flown on Spirit a couple times, and it wasn’t a good experience,” said Christian Hoang, a San Jose resident going to school out of state. “If you’re looking for the best price, they have...

Downtown San Jose theater faces final curtain call

A San Jose art institution in downtown is closing its curtains later this year. The Tabard Theatre is closing indefinitely on April 2, according to Jonathan Rhys Williams, executive artistic director of the Tabard Theatre Company. “After three years of battling increasing costs, decreasing ticket sales and the ongoing effects of a global pandemic, we are...

Booms and busts: Silicon Valley economy divided

Silicon Valley’s economy is waiting to see how recent changes like remote work culture and the slowdown of pandemic-driven booms in the tech sector play out, according to a new regional report. Even with that in play, the most consistent indicators show Silicon Valley is still a place of drastic divides, with gaps between the haves...

San Jose franchisees applaud delay in controversial law

Fast-food restaurant owners are breathing easy now that a state law meant to address working conditions among workers is on hold. Efforts to halt AB 257, also known as the FAST Recovery Act, succeeded this month after restaurant and business trade groups submitted more than 712,000 valid voter signatures for a referendum, state officials announced last week. The effort to...