Small businesses have been hit hard by the COVID-19 pandemic, but Black businesses have been hit even harder. According to a report by the New York Fed in April, nearly half of all small Black-owned businesses had closed or were likely to close due to the pandemic. Walter Wilson, co-founder and CEO of the Silicon Valley...
Silicon Valley will recover faster from COVID-19, report says; local economists unsure
A Bloomberg report found that according to economic infrastructure and demographic metrics, Silicon Valley ranks first among the top 100 U.S. metropolitan areas most likely to recover from the COVID-19 pandemic the quickest. “Known for their information technology, electronics manufacturing, venture-capital funding and research universities, the economies in the Bay Area boast industries that have...
Google project won’t improve San Jose’s jobs-housing imbalance much, officials say
Google’s massive downtown San Jose campus won’t make as big a dent in the city’s jobs-to-housing imbalance as city officials had hoped. That was one of the revelations from a Planning Commission meeting studying the proposed project on Dec. 9. “Even with the addition of these 20,000 jobs at full build-out, it makes a very small change...
Santa Clara County to offer small-business loans through state fund
Rather than create its own pot of money to help local businesses suffering through the pandemic, Santa Clara County will invest in a statewide fund that offers loans to small businesses. The Board of Supervisors on Dec. 8 voted unanimously to invest $6 million into the California Rebuilding Fund with the intent of offering loans...
Embattled San Jose business group names new leader, blames consultant for racist political ad
A little more than a month after The Silicon Valley Organization posted a racist image on its website — leading to the ouster of its CEO Matt Mahood — San Jose’s largest business organization has a new leader. At least for now. The SVO officials on Dec. 9 announced Robert Linscheid will serve as interim...
Santa Clara County rushes to place cap on food-delivery fees
Santa Clara County could see a 15% cap on food-delivery fees as soon as next week. While supervisors were planning to look into the matter and put a cap in place in January, they instead voted unanimously Dec. 8 to draft a stop gap measure they could approve Dec. 15. “Many of our restaurant members...
Santa Clara County eyes small-business loan program
Santa Clara County is considering establishing a $50 million to $100 million small business loan program, despite county executives insisting it’s a bad idea. The Board of Supervisors started entertaining the idea in October, with Supervisor Joe Simitian saying loan amounts should be distributed in increments of $50,000 to $100,000 per business to increase impact....
Cap on food delivery fees being considered in Santa Clara County
With a new shelter-in-place order in place until Jan. 4, Santa Clara County officials are hoping to help struggling restaurant owners by capping fees and commissions charged by food-delivery companies. Supervisors Joe Simitian and Cindy Chavez on Dec. 8 plan to ask county staff to look into drafting a proposal modeled after other Bay Area...
‘We don’t know what to do’: San Jose restaurants prepare to close in-person dining
Surrounded by patio heaters and tables filled with patrons dining on Mexican food, a three-person mariachi band played under the tent canopy outside Mendoza’s Taqueria in San Jose on Sunday – the last day of the year restaurants could seat people under Santa Clara County’s most recent health order. “I’m going to miss watching them...
Free parking and to-go alcohol among ideas to keep business alive in downtown San Jose
A coalition of more than 55 San Jose businesses is pushing local and state policy recommendations to help the once-thriving downtown core survive the pandemic. Lawmakers at the city’s Rules and Open Government Committee voted unanimously Dec. 2 to bring 15 new policy recommendations to the San Jose City Council for discussion and approval. “As...