03/29/2024

News

Drone Maker Ashima Moving HQ from California to Nevada, Taking 400 Jobs with It

Drone manufacturer Ashima Devices announced Tuesday that it will move its headquarters from Pasadena, Calif., to Reno, Nev., and is expected to bring about 400 jobs with it.

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Study: California’s Beer Industry Tops the Nation with 240,000 Jobs

California’s beer industry provides a nation-leading 242,000 jobs, according to a new study released by the Beer Institute, the Washington, D.C.-based national trade association.

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California Jobless Claims Drop by Nearly 9,000, most in US

The number of people making new jobless claims across the country dropped slightly by 1,000 to 298,000 from the previous week’s revised number, according to a weekly report from the U.S. Department of Labor. California scored the largest drop in new claims.

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GDP Expanded at 4.2% Rate in Second Quarter

Gross domestic product, the broadest measure of goods and services produced across the economy, grew at a seasonally adjusted annual rate of 4.2% in the second quarter after accounting for inflation, the Commerce Department said.

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California Drivers Brace for Costly New Gasoline Tax

Californians already pay the nation’s second highest gas tax at 68 cents a gallon — and now it will go up again in January to pay for a first-in-the-nation climate change law.

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Canada’s Lower Corporate Tax Rate Raises More Tax Revenue

Part of the attraction is the substantial tax reforms that occurred over the last 15 years in Canada. First among these is the dramatic reduction in the corporate tax rate, from 43 percent in 2000 to 26 percent today. The U.S. currently has a corporate tax rate of 39 percent, but lawmakers are reluctant to do what Canada did, i.e. lower the tax rate, for fear of losing tax revenue.

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Gov. Brown Signs Deal Tripling State Film Credit

The agreement increases the tax credit to $330 million a year for the next five years. It also replaces the current lottery system with a ranking based on how many new jobs a production creates. While the agreement falls short of the $400 million approved by the Senate Appropriations Committee two weeks ago, it more than triples the current tax credit of $100 million.

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SF Minimum Wage Hike Wouldn’t Hurt Economy, New Study Says

A hike in San Francisco’s minimum wage would benefit more than one in five city workers without harming the local economy, a new study concludes.

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Amazon Adding 200 Jobs in Tracy

Amazon is hiring for 200 more permanent jobs in its Tracy distribution center, according to KCRA-TV Channel 3.

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Watchdog Groups Ask State to Stop “Harmful” Tesla Competition

A coalition of nonprofits say states are in a race to the bottom in the competition to win a giant Tesla Motors battery factory. In California, lawmakers are set to consider a tax and regulatory incentive package for the company.

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Silicon Valley Labor Groups Target Tech “Segregation” in Push to Raise Wages

A new report by San Jose labor think tank Working Partnerships USA highlights an “invisible workforce” of janitors, landscapers and security guards keeping companies like Google Inc., Apple Inc. and Facebook Inc. up and running.

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California vs. Texas in Fight to Attract and Retain Businesses

For more than a decade, Texas Gov. Rick Perry has touted the “deal-closing” Texas Enterprise Fund and other cash incentives as a “job-creation machine.” A fifth of the companies that Texas attracted during the last funding cycle, in 2011 and 2012, were based in California.

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LA Storeys; Why Homes Even in the Unfashionable Parts of LA Cost So Much

A new study by the University of California, Los Angeles concludes that LA has the least affordable rental homes in America, and other reports rate California as the worst state both for renters and mortgage-payers (see map). The UCLA study reports that tenants in LA spend on average 47% of their gross income on rent—a higher share than in any other city. (Academics typically deem rent “unaffordable” if it eats up more than 30% of a household’s income).

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California’s Latest Carbon Auction Raises $331.8 Million

Industrial companies and other businesses paid a combined $331.8 million for carbon credits in California’s latest cap-and-trade auction, state officials said Thursday.

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LA Area Nation’s Most Expensive Housing Market

When it comes to buying a home or renting an apartment, the Los Angeles-Orange County area is the most expensive market among the nation’s 100 biggest metropolises, according to a report released Thursday by the real-estate website Zillow.

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