Filtered by Category: development
Local manufacturing company Toray Advanced Composites recently announced the expansion of their Morgan Hill campus, adding approximately 74,000 sq.ft. and 100 new employees.
Read the full Press Release HERE.
In this eNewsletter, you will find information about key efforts that impact our business community, including:
-First quarter 2023 sales tax was negatively affected by gas and lumber
-Employers invited to participate in Work 2 Future Job Fair
-$20,000 rebates for small and medium-sized businesses
-Roughly 2,900 housing units are on Morgan Hill's horizon
-Get ready for some fun Downtown! Bring your family, friends, and canines
-Police-Community Partnership celebrated at National Night Out
-In the news
-Now open and coming soon
Read the July 2023 eNewsletter HERE and reach out to the team if you have any questions or want to connect with us. Thank you for continuing to “Choose Morgan Hill.”
Have questions? Contact City of Morgan Hill Economic Development Director Matt Mahood at Matt.Mahood@morganhill.ca.gov
The 2-story EDES Building currently under construction in Downtown Morgan Hill, was featured by SF YIMBY as one of the Bay Area’s interesting and unique projects to watch.
Read the full article in SF YIMBY HERE.
What to learn more about the CHIPS Act and whether your company is eligible for funding? The Governor's Office of Business and Economic Development (GO-Biz) will be hosting a two-part webinar series to provide background on the CHIPS Act and updates on how the state is supporting California CHIPS applicants.
Webinar 1: CHIPS Act Overview and Expectations - REGISTER HERE
Date: April 5th, 2023 from 12:00 – 1:00 PM PST
In this first webinar, GO-Biz will provide an overview of current and upcoming CHIPS Act funding opportunities, as well as detail the timelines and federal guidelines for the manufacturing incentives and R&D programs.
Webinar 2: State and Local Government Incentives & Support-
Date: April 11th, 2023 from 10:00 – 11:00 AM PST
The second webinar will be hosted by SEMI to discuss California state services and programs that can be leveraged in alignment with current and upcoming CHIPS funding opportunities. Competitive CHIPS proposals will apply one or more state or local government incentive(s) to finance their project costs. This webinar will provide an opportunity for California semiconductor businesses to learn about existing state incentives and workforce development programs they may utilize to strengthen their CHIPS applications. REGISTER HERE.
Even when considering the California exodus, tech sector layoffs, and headquarter relocations, the state of Silicon Valley is not all doom and gloom. Since June 2022, Silicon Valley has added 88,000 new jobs and has a current unemployment rate of 2%. Between 2020-2022, approximately 91,000 people left Silicon Valley, however 50% of them still live within driving distance. The recently announced 11,000 tech layoffs represent 0.7% of Silicon Valley’s total employment and experts predict the final layoff percentage to come in somewhere around 2%. Silicon Valley lost four major headquarters, but experienced 20,000 patent registrations: one of the highest numbers in the Valley’s history.
Every February Joint Venture Silicon Valley produces the Silicon Valley index, which measures the strength of our economy and the health of our community through research and indicator tracking. The index highlights challenges, celebrates wins, and provides an analytical foundation for decision-making. Go HERE to download your copy of the index or take a deep into the hard data and charts.
Economic growth, job gains, and the renewable energy industry continue to fuel California’s economy, poising the state to soon surpass Germany as the 4th largest economy in the world. Renewable energy is the fastest growing business in California and a major contributor, alongside the tech industry and entrepreneurial magnetism, to the state outperforming the nation and the world in not one but several industries. California’s economy is surpassed only by the United States, China, and Japan.
Read the full Bloomberg Report HERE.
Have questions? Contact City of Morgan Hill Economic Development Director Matt Mahood at Matt.Mahood@morganhill.ca.gov
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