News/Blog

News and thoughts from our staff

Filtered by Tag: economic recovery

February 24, 2023

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.

October 24, 2022

October eNewsletter

By Brittney Sherman

In this eNewsletter, you will find information about key efforts that impact our business community, including:

· Sales tax revenues continue to rise, but experts predict slower growth

· Morgan Hill targets expanding retailers

· City leads Manufacturing Week

· Are you prepared for food recovery inspections?

· Book a ride anywhere in Morgan Hill for $2.50

· What you will see on the 2022 Local Election Ballot

· Makers Market drives Shop Local effort

· Ghouls and Goblins return to the Downtown

· Morgan Hill in the news

· Business Resources

Read the October 2022 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

October 19, 2022

2Q 2022 Sales Tax Revenue Continues to Climb

By Brittney Sherman

The 2Q2022 sales tax revenue report has been released. View the full report HERE or skim the high level takeaways below. Although sales tax collections continue to soar quarter over quarter, experts predict much slower growth towards the end of 2022 and into 2023, as actions to curb inflation are implemented and comparisons between pandemic and post-pandemic sales tax revenue months become obsolete.

- Between the months of April-June, Santa Clara County Sales Tax collections grew 8.7% and Morgan Hill Sales Tax collections grew 10.5%, compared to these same months last year.

- After seven quarters of consistent growth, collections from the auto and transportation group dipped, mostly due to rising interest rates and inflation.

-Conversely, rising fuel costs and the return of travel activity resulted in service station collections increasing 35% over 2021.

- Morgan Hill’s business and industry group experienced an increase in collections, thanks to electrical equipment and light industrial materials sales.

- Statewide, local one cent sales and use tax increased 10% over 2021, marking the sixth consecutive quarter of double digit growth.

Have questions? Contact City of Morgan Hill Economic Development Director Matt Mahood at Matt.Mahood@morganhill.ca.gov

May 18, 2022

The Mission Bell Story Continues...........

By Brittney Sherman

Mission Bell Manufacturing was founded in Santa Clara County in 1959. After briefly operating under the parent company USA Millwork, Mission Bell has once again resumed operations as a local, employee-owned business, dedicated to premium quality architectural millwork and casework.

Mission Bell is a 60-year-old millwork manufacturing company based in Morgan Hill. They provide custom commercial millwork and casework for healthcare, technology, education, office, and hospitality projects throughout the Bay Area and Pacific Northwest regions.

Learn more about Mission Bell HERE

Have questions? Contact City of Morgan Hill Economic Development Director Matt Mahood at Matt.Mahood@morganhill.ca.gov

February 23, 2022

February 2022 eNewsletter

By Brittney Sherman

During the month of February we celebrate love, football, presidents, Black History, and random acts of kindness! In the spirit of National Friendship Month, which is also observed in February, we thank you for your support, partnership and friendship with the City of Morgan Hill.

In this eNewsletter, you will find information about key efforts that impact our business community, including:

-Shopping Center Sales Tax Rebounds,

-2022 State of the City Address,

-Depot-Latala Project Update,

-Llagas Creek Flood Control Phase 2,

-Industrial Preservation & Optimization Policy,

-Businesses Newly Opened and Coming Soon, and

-Business Resources

Read the February 2022 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.”

July 20, 2020

Morgan Hill Supports Businesses and Community with Launch of Place-Branding Grant

Morgan Hill announced a Place-Branding Partnership Opportunity designed to support businesses and community through the COVID-19 pandemic. This is one of several business resiliency efforts supporting the City’s economic recovery plan to help with the beautification of outdoor dining spaces, activating vacant store fronts with temporary art, community announcements or businesses that may have lost their leases; and creating interesting ‘place-making’ street activations that will create a welcoming, fun and interesting environment.