Economy

Economy

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....

San Jose trails neighbors on minimum wage

Paychecks are increasing in San Jose come Jan. 1, but for some residents it’s barely enough to get by. The minimum wage in San Jose will go from $16.20 an hour to $17 an hour, but the hike isn’t keeping pace with the rising costs of living in the Bay Area, workers said. Ahtziri Hernandez, a...

California franchise owners fight fast food law

A state law meant to address working conditions among fast food workers could soon be stopped. The International Franchise Association (IFA), the world’s largest trade organization for franchise operators, wants to place a referendum on the 2024 ballot to repeal AB 257. The group announced this week it has gathered more than one million signatures...

UPDATE: Silicon Valley Latinas rally for fair compensation

Latinas in Silicon Valley get paid 33 cents for every dollar a white man earns—and local leaders say that needs to change. Dozens of people gathered Thursday morning in Santa Clara for a joint rally in honor of Latina Equal Pay Day, hosted by the Santa Clara County Office of Women’s Policy and Latina Coalition...

San Jose tourism slow to recover

A recent audit of the nonprofit that manages San Jose’s arts and cultural centers shows the organization is rebounding from a devastating pandemic year—but is still a long way from regaining pre-pandemic revenues. The city’s annual audit of Team San Jose found the organization exceeded its goals of booking hotel rooms, hosting events and bringing...

Downtown San Jose loses another major retailer

The closing of a neighborhood drugstore means the loss of much needed services for residents and business owners in downtown San Jose. The CVS on The Alameda, which closed about two weeks ago, offered a convenient one-stop shop for groceries, basic goods and pharmaceutical needs, but it also became a “magnet” for homeless residents who...

World Cup a win for downtown San Jose

The United States soccer team may have tied England at the World Cup’s Friday match, but the game was a win for San Jose regardless of the results. World Cup watch parties—organized by the San Jose Earthquakes soccer team, local businesses and the San Jose Downtown Association—have activated San Pedro Square in a way the...

San Jose wants to double pot shops to increase revenue

San Jose wants to more than double the number of cannabis dispensaries to increase tax dollars, but officials are struggling to find a policy that works. Last week, the San Jose City Council voted 10-1 to relax various regulations. Councilmember Matt Mahan was the lone dissenter. The new policy aims to change three issues to...