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Economic Development

May 07, 2008

Big Box Ban OK'd in Dublin

The Dublin City Council voted 4-1 this week to ban general retail establishments larger than 170,000 square feet that devote more than 10 percent of floor space to nontaxable grocery items.  Translation: no Big Box.  Membership stores, such as Costco, are exempt (this could be construed merely as a vote in favor of $1.50 hot dogs at Costco, our favorite). 

Dublin joins Oakland, Martinez, Contra Costa County, Turlock and Elk Grove as NorCal cities who have instituted similar bans.  The reasoning is typically that they create traffic burdens and hurt small businesses, read more about Dublin's story in the CoCo Times

May 05, 2008

Paris, Milan and ... Escondido?

The San Diego Union Trib has a fun read about a city looking to elevate its presence on the international glamour scale.  Turns out the city of Escondido is now hosting a "Fashion Week," one that is modeled on those held in more traditionally posh locales such as Manhattan, Paris and Milan.  Mayor Lori Holt was quoted as hoping the event will "show we can be sophisticated and cosmopolitan."  Read more...

April 02, 2008

Motocross City, USA

After a hard fought battle a couple years back to crown Huntington Beach "Surf City, USA" (sorry, Santa Cruz), Marysville has jumped ahead of the curve, so to speak, and proclaimed itself "MotoCross City, USA."

As reported on the Motocross website Dirt Rider this week, Mayor Bill Harris and the City Council  proclaimed the City "Motocross City, USA," positioning Marysville as the most motocross friendly city in the United States. "The City supports the operation and sustainability of two local motocross tracks, one within and one adjacent to the City limits, and welcomes all riders, families, and motocross businesses to Marysville," said the website.   

March 19, 2008

Cost Savings and Economic Development Potential in Expanding Broadband Internet Access

Several weeks ago CCN discovered a blog devoted to broadband internet issues at the local level.  The author of this blog, Fred Pilot, has since  penned a piece for the mainstream media (alas) in which he illustrated how  his home county of El Dorado could both meet a budget shortfall and expand internet access to under-served communities by leasing out some of its road right of ways to firms who can install and operate fiber optic telecommunications cables. 

Carried in the SacBee here, Pilot's piece makes some expert points on telecom infrastructure and potential avenues to create innovative, cost saving solutions at the local level, while spurring economic growth.  Also check out his blog, Eldo Telecom.

March 10, 2008

Legislature Helps Locals on Bond Issue

The State Assembly has overwhelmingly passed a bill aimed at assisting cities and counties in the rocky municipal bond market.  SB 344 (Machado) will allow cities and counties to buy back their bonds without "extinguishing" the debt, according to a SacBee story.  The bill is now scheduled to go to the Senate for a vote, hopefully in time to save local government from skyrocketing costs associated with the softening market. 

Get the full text and summary of SB 344 here.

March 05, 2008

Blogging Broadband

CCN (which may have too much spare time) stumbled across this interesting blog devoted to boradband internet developments.  Based right here in California (El Dorado), the blogger is tracking a lot of issues relevant to cities, including a recent post on how Local government units could build own broadband infrastructure under proposed California legislation

Cities Helping Families Claim Earned Income Tax Credit

Cities around the country are hosting events to alert low-income working families about their eligibility for the Earned Income Tax Credit (EITC), according to a story posted on the National League of Cities website.  CCN happens to know the City of Irvine is one such city, and is offering free tax preparation help with a focus on EITC through April 12.

The EITC is a refundable federal income tax credit that benefits low-income working families and also brings federal dollars back into the community.

Muni Bonds Bounce Back

Municipal Bonds bounced back Tuesday after two weeks of near freefall.  Bloomberg reports that "California, the largest borrower in the U.S. municipal market, sold $1.75 billion of bonds after attracting record demand from individuals drawn to the highest tax-exempt yields in more than three years."

The state's bond rating is the second lowest in the nation (edging only Katrina ravaged Lousiana), and on that front, Treasurer Bill Lockyer sent the letter to Standard & Poor's, Moody's and Fitch in an effort to shore up the bond rating as Congress prepares for a hearing on the state and local government bond market.  It's being reported that the state could save up to $5 billion in interest on voter approved infrastructure bonds if this rating improves.

February 25, 2008

Forbes List of The Top 100 US Cities For Jobs in 2008

Look who's back with another "Best of List" for cities - that's right, Forbes Magazine. And it wouldnt be a true top 100 list without the usual slight of California Cities. The full story complete with methodology is here, while the actual table listing the Top 100 is here.

Texas, The Lone Star State shines brilliantly in a list of the best places to work in the U.S. when some economists peer into their crystal balls for 2008.

Notable California cities include:

  • Riverside (42) comes in as the highest ranked California City.
  • San Francisco (56) beats regional neighbor San Jose (80).
  • Oxnard (67) a surprise contender makes the top 3 California City list.

So where does your city rank?

February 20, 2008

LAEDC Predicts State Will Avoid Recession

The Los Angeles Economic Development Council released a report this week saying the state should narrowly avoid a recession, but paints a less than rosy picture for employment growth and recovery of the housing market.

Read the review of the report in Business Week, here.  Accrording to the report: "The housing slump will likely keep stifling purchases of furniture, home appliances and building materials, according to the forecast.  That, in turn, will be a drag on local government coffers, which depend on retail sales tax revenue."