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.
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.
Amazon is hiring for 200 more permanent jobs in its Tracy distribution center, according to KCRA-TV Channel 3.
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.
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.
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.
California’s per-job costs are higher than every other Western state, and most other large states. The high cost of creating additional jobs puts California at a substantial competitive disadvantage when attempting to retain or attract businesses that have a choice where to locate.
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).
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.
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.
Across the U.S., small-business lending has been stuck in a slow, grinding recovery behind most other types of business and consumer loans. At the end of the first quarter, banks held $585 billion in loans to small businesses, up 1% from last September but still 18% less than the peak of $711 billion in 2008, according to the Federal Deposit Insurance Corp.
California is one of the most expensive states for businesses to operate, mainly because of high pay and related labor costs, says a new report commissioned by an arm of the state Chamber of Commerce..
Many cities and states are in the same rusty boat, having put off investing in bridges, wastewater systems, dams and other public works that need regular maintenance and upgrades. The American Society of Civil Engineers estimates the country would have to spend $3.6 trillion to get the nation’s infrastructure in decent working order by 2020.
After a puzzling first-quarter contraction, growth has returned, though the recovery remains the weakest since the second world war. As of June, the expansion is now five years old, longer than the post-war average of 58 months . . .
This report details how these nine Summit proposals are the foundation for rebuilding California’s struggling middle class and restoring upward mobility. It also highlights a wealth of opportunities for the Summit’s seven action teams to engage and collaborate to make them a reality.