Economy

Economy

Santa Clara County makes cuts to tackle huge deficit

The Santa Clara County Board of Supervisors is cutting hundreds of vacant positions to close a looming deficit—paving the way for the passage of a $11.3 billion budget for 2023-24. Supervisors addressed the $120 million deficit last Thursday by not only cutting 600 positions, but also shifting more money into county reserves, totaling $218.6 million,...

UPDATE: San Jose eases rules on cannabis dispensaries

The San Jose City Council approved changes to existing regulations on dispensaries, expanding where they can set up shop and relaxing expensive annual audit requirements. The council had been discussing revisions since late last year after industry complaints that the strict rules effectively barred cannabis storefronts from being able to open in most of the...

Silicon Valley inequality persists four years in a row

A vast amount of wealth in Silicon Valley is concentrated in just a few households, while residents throughout the region struggle to afford basic needs. That’s according to the 2023 Silicon Valley Pain Index, an annual report put forward by researchers at San Jose State University. This year’s findings highlight how eight households in Silicon...

Full report: Silicon Valley Pain Index 2023

The Silicon Valley Pain Index is produced by the San Jose State University Human Rights Institute. The annual study focuses on racial discrimination and wealth inequality. The report was first published in 2020 following the murder of George Floyd by Minneapolis police and was inspired by an index compiled about New Orleans after Hurricane Katrina....

San Jose council divided on core budget issue

San Jose Mayor Matt Mahan sought to reduce the number of votes needed to pass his Measure E spending plan. Councilmembers resoundingly said no—partly because there are two alternative plans, widening the gap between Mahan and his colleagues. On Wednesday, Mahan released his $5.2 billion budget proposal for the next fiscal year. In it, he snuck in an...

Writers strike comes to Cupertino—Apple’s front door

While Apple held its annual Worldwide Developers Conference, the Writers Guild of America West (WGAW) organized outside the company’s visitor center to protest unfair wages and job security. Members of the local guild leafletted and made speeches on Monday, voicing their frustrations over an ongoing labor dispute between WGAW and the Alliance of Motion Picture and...

UPDATE: San Jose unveils $5 billion budget with surplus

San Jose’s final draft of its multi-billion dollar budget is out and Mayor Matt Mahan is sticking to his “back-to-basics” approach—prioritizing homelessness, crime and blight. Mahan released his June budget message today, outlining how he plans to allocate the city’s $5.2 billion purse. The monthslong budget process started smoothly, with unanimous approval of his first...

San Jose loses another beloved restaurant

The Evergreen community has lost a beloved restaurant after almost 20 years due to unplanned hardships caused by the pandemic and family health. In a letter taped to the restaurant’s door, Evergreen Inn & Pub owners Hector and Emily Lopez said they were closing their cherished restaurant with heavy hearts and thanked their loyal customers....