April 3, 2013 |
A California legislator wants to require the state's prisons, schools and other public institutions to buy local agriculture products to support California farmers. Assemblyman Chris Holden (D-Pasadena) recently introduced the Choose California Act, a bill that would require public institutions to buy California agriculture products if the price is within 5% of the lowest out-of-state competitor. Schools would be exempt from that rule and would be required to buy California-grown products only if they are cheaper.
April 1, 2013 |
With the Pentagon set to whack its share of $85 billion in automatic federal budget cuts last month, it didn't take long for Velma Searcy to feel the pain. The owner of a Palmdale maker of military aircraft parts saw two contracts quickly evaporate as defense firms pulled back. Southern California's aerospace industry is expected to be hit hard by the so-called sequester. Still, the state generally should be able to weather the cuts without major economic damage, experts said. That's because California's economy has become more diverse over the past quarter-century, making it much less dependent on cash flowing from Washington, said Stephen Levy, director of the Center for Continuing Study of the California Economy in Palo Alto.
March 29, 2013 |
California's economic growth revved up in February as employers added 41,200 jobs, one of the highest monthly gains since the Great Recession ended nearly four years ago. The payroll gains helped push the unemployment rate down to 9.6% from 9.8% in January, according to data released Friday by the state Employment Development Department. The growth in net new jobs, buoyed by increased consumer spending, was another positive sign for a state that has steadily gained jobs over the last year, hitting a monthly high of 74,000 in January 2012.
March 27, 2013 |
Proposed legislation to raise the state minimum wage could eliminate tens of thousands of jobs and harm the California economy, a small-business advocacy group said. The measure, AB 10, could wipe out more than 68,000 jobs over 10 years and cost $5.7 billion in lost production of goods and services, according to a study released Tuesday by the National Federation of Independent Business. More than 63% of the lost jobs would be in the small-business sector, NFIB researchers said.
CALIFORNIA | LOCAL
March 17, 2013 |
Los Angeles is at a disadvantage competing with Las Vegas, New York and Miami for tourists who want a lively nightclub scene because of a California law that cuts off alcohol sales at 2 a.m., a state lawmaker contends. State Sen. Mark Leno (D-San Francisco) has introduced legislation that could extend the last call for alcohol in some California cities until 4 a.m. "This legislation would allow destination cities like San Francisco, Los Angeles and San Diego to start local conversations about the possibility of expanding night life and the benefits it could provide the community by boosting jobs, tourism and local tax revenue," Leno said.
CALIFORNIA | LOCAL
March 15, 2013 |
SACRAMENTO -- Tapping California's oil-rich Monterey shale using hydraulic fracturing could boost the state's economic activity by as much as 14.3% and create hundreds of thousands of jobs, according to a new USC study. As detailed in Money & Co. blog , the development of the 1,750-square-mile formation in Central California could have a transformative effect on the Golden State's economy, with the state potentially reaping oil-related tax revenue of $4.5 billion in 2015 and $24.6 billion by 2020.