Economy

Economy

San Jose mayor firm on reallocating affordable housing dollars

San Jose is facing its most challenging budget environment since the start of the COVID-19 pandemic, Mayor Matt Mahan wrote in his June budget message Tuesday — with funding meant for affordable housing construction on the line. Mahan’s recent budget message updates his earlier March version, including new proposals from councilmembers for funding projects that enhance...

UPDATE: Campbell Pruneyard Cinemas faces ‘substantial problems with landlord’

The long-term sustainability of a beloved Campbell theater is in jeopardy, after being hit with an unmanageable rent hike. Pruneyard Cinemas management is working to restructure its lease with landlord, Regency Centers, and is looking for local supporters to help Regency understand its longstanding relationship with the community. In January the Cinemas, located in The...

Campbell finalizes economic plan with mixed business response

Campbell’s latest economic development plan is getting mixed reviews from business owners after its first update since 2017. The three-year plan, unanimously adopted by the Campbell City Council in April, aims to tackle three areas of economic growth: filling vacancies, preserving its trade sector and creating a vibrant downtown hub. While the city is working to fix...

Santa Clara settles lawsuit with 49ers

Santa Clara and the San Francisco 49ers have settled their last outstanding lawsuit after years of conflict, taking a step toward reconciliation. The settlement will generate $20 million for Santa Clara over the next two years through changes to the city’s contracts with the 49ers, including $2.8 million in the next fiscal year, according to...

Fight to stop anti-tax measure comes to Silicon Valley

A November ballot measure could profoundly change how essential government services are funded in California. The statewide fight to stop it has reached Silicon Valley. Labor, community and city leaders from Mountain View, Los Altos and San Jose rallied with signs and horns on Wednesday against a business community-sponsored initiative known as the Taxpayer Protection...

San Jose cannabis dispensary opens in downtown

San Jose has opened its first ever retail storefront for cannabis in the heart of downtown. For years the city had strict rules on where dispensaries could operate, relegating them to industrial areas. Last year the City Council revised regulations on where dispensaries rent space and allowing one operator to have more than one location. Mark Ritchie, president...