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News and thoughts from our staff

 
Two of the largest homeowner insurance providers cancel coverage

Two of the largest homeowner insurance providers cancel coverage

By Brittney Sherman

Insurance industry giants Allstate and State Farm are no longer providing homeowner insurance coverage to new accounts with a California zip code. The reason can be chalked up to increased wildfires and construction costs. According to the California Department of insurance, in 2021 State Farm was the number one insurer and Allstate was the number four insurer for homes in the State of California. With 985 fires and more than 1,000 acres burned in California this year already, insurance rates across the industry are bound to increase.

 
The shoplifting epidemic

The shoplifting epidemic

By Brittney Sherman

You may have noticed that more and more retail shops have merchandise under lock-&-key and security guards manning the door. A shoplifting epidemic that began as random smash-and-grabs, has now morphed into organized retail crime that is sweeping the nation. According to the National Retail Federation, retail theft is an estimated $100 billion problem, and growing. The challenge, how to fight organized retail crime while keeping consumers and employees safe.

In an effort to stop sales associates from escalating shoplifting instances to violent and potentially fatal situations, the Senate passed SB 553 which prohibits retailers from requiring staff to confront shoplifters. The Bill requires that all employers regardless of size meet workplace violence standards that are even more aggressive than those applied to hospitals. Although many retailers have strict anti-confrontation policies already in place, SB 553 will require employers to provide active shooter training, maintain logs of violent encounters, and manage workplace violence restraining orders.

 
Salt Lake City housing and hotel development skyrockets

Salt Lake City housing and hotel development skyrockets

By Brittney Sherman

Salt Lake City is the 7th fastest growing area in the United States, ranking higher than Los Angeles, Manhattan, and Chicago in real estate prospects. The Salt Lake City Metro area currently has over 9,000 housing units under construction, 4,500 of which are apartments located in the heart of Downtown. Housing isn’t the only development happening in Salt Lake City. In the last 12-months hotel capacity increased by 1,400 rooms, an increase of 3.9%. Non-operational hotels are also enjoying re-investment, being converted into mixed-use apartment and office projects. While Salt Lake City wrestles with pandemic induced office and industrial vacancy rates like many other large cities, multi-family and data center development continues to stay strong.

Read the full story on CoStar HERE.

 
Retail innovations on the rise in 2023

Retail innovations on the rise in 2023

By Brittney Sherman

In the very near future, these retail innovations may become the norm according to the National Retail Federation’s “10 ideas worth stealing in 2023:”

+Co-tenancy of big box retail stores, with a focus on unexpected partnerships and stimulating experiences.

+The rise of Radio Frequency Identification Technology (RFID) for self-checkout, warehousing, and supply chain management.

+Transforming “toss-aways” into products and tripling down on sustainability and “forever products.”

+Debit card incentives that reward shoppers for paying now by giving same store discounts later.

Read the full article HERE.

 
Concerts return to the Downtown Amphitheatre

Concerts return to the Downtown Amphitheatre

By Brittney Sherman

Kick off the weekend all summer long by dancing the night away at the Morgan Hill Chamber of Commerce’s Friday Night Music Series running from June 16 through August 18. Top notch bands, cultural performances, food venders, small business and non-profit booths, local wine, craft beer, and more. This family friendly community event is FREE and open to all-ages.

Learn more about the Morgan Hill Chamber of Commerce and Friday Night Music Series HERE.

 
Energy rebates offered to small and medium businesses

Energy rebates offered to small and medium businesses

By Brittney Sherman

Silicon Valley Clean Energy is offering up to $20,000 in rebates for updating your old gas equipment to new electric equipment. Plus, get an additional $5,000 if your business is a nonprofit. For your small or medium sized business to qualify, you must operate in a building less than 50,000 sq. ft. and which uses less than 250,000 kWh and 25,000 therms in a year.

Learn more at svcleanenergy.org

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