Economy

Economy

San Jose targets retail theft with new police unit

Thieves hoping to snatch items off the shelves of San Jose retailers may have a tougher time this holiday season. City policymakers this week launched a new police team to stop retail theft after the city saw a 25% spike in the crime from 2021 to 2022. The San Jose City Council unanimously approved creating...

Beloved San Jose burger joint set to close

A Blossom Hill burger joint that has been a go-to since before fast food was even a thing is calling it quits. The Burger Pit, a South Bay staple since the 1950s, will close its doors for good next April, according to co-owner Paul Berger. He’s been working the grill and serving the eatery’s half-pound...

Santa Clara raises hotel tax to tackle deficit

Santa Clara is brainstorming strategies to improve the city’s economic future while grappling with a budget crisis. The Santa Clara City Council unanimously voted last week to raise the transient occupancy tax from 11.5% to 12.5%, up to a maximum of 13.5% within the next two years, as a way to tackle the city’s deficit....

San Jose leaders say downtown is entering ‘a new era of promise’

The tone of an annual meeting on the state of downtown San Jose was hopeful, despite the city core’s slow recovery from the COVID-19 pandemic. San Jose Downtown Association members met today at the Hammer Theatre Center, along with city leaders who rallied support for a “vibrant, community-driven” downtown. The area is facing a number of setbacks, including the...

San Jose workers are not returning to downtown

The San Jose metro area ranks in the top 10 among the lowest in the country for employees returning to the office. San Jose sits in the ninth spot at 40.7% for return-to-office rates, according to a recent study by Kastle, a facilities security firm that tracks office visits by analyzing keycard swipes at buildings...

UPDATE: Why is San Jose starting its own power utility?

As San Jose’s power needs increase with electrification and climate change solutions, the city will explore creating its own power utility. The San Jose City Council on Tuesday unanimously approved the creation of San Jose Power, a city-run electric utility touted as a once-in-a-generation opportunity to provide power at lower rates and bring in more...

Report: Levi’s Stadium in Santa Clara has $2B economic impact

Events at Levi’s Stadium in Santa Clara have generated $2 billion in total economic impact for the region in the last decade, according to a report commissioned by the San Francisco 49ers. The report was prepared by Daniel Rascher, a professor of sports economics at University of San Francisco and head of consulting firm SportsEconomics....

San Jose employees spent millions on travel, entertainment and dinners

From Disney resorts to animal funeral services, San Jose City Hall employees spent millions with city credit cards this past year. About a quarter of San Jose employees have city-funded credit cards, known as purchase cards or P-cards. The cards are typically issued to specific department representatives with intent to streamline small dollar purchases—mostly office...

Immigrants put billions of dollars into Santa Clara County

Immigrants are one of Santa Clara County’s key economic drivers, bringing billions of dollars into the community. Approximately 765,800 immigrants contributed $255 billion to the county’s gross domestic product in 2021, according to a recent report that reveals the significant role immigrants play in the region’s labor force, businesses and consumer spending. New Americans in...

Silicon Valley fast-food industry finds compromise in state bill

Flipping burgers, assembling sandwiches and scooping guacamole onto salads is going to look tastier to San Jose’s fast-food workers after unions and restaurant owners reached an agreement through a state bill heading to Gov. Gavin Newsom’s desk. State legislators passed Assembly Bill 1228 last week, ending a stalemate over fast-food labor policies, which triggered a...