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California expected to become the world's 4th largest economy

California expected to become the world's 4th largest economy

By Brittney Sherman

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

 
October eNewsletter

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

 
2Q 2022 Sales Tax Revenue Continues to Climb

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

 
Dual-Panel Manufacturing Roundtable Discussion

Dual-Panel Manufacturing Roundtable Discussion

By Brittney Sherman

In honor of Manufacturing Week, the City of Morgan Hill invites you to participate in a Manufacturing Roundtable featuring two panels with leading industry experts!

The first portion of the panel will consist of manufacturer executives who will discuss the industry's current environment, challenges, issues, opportunities, and future. The second portion of the panel will consist of service providers and subject matter experts who can offer counsel, advice, information, tools, and resources to manufacturers.

To register, go HERE!

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

 
Michael Van Every Applauds Morgan Hill

Michael Van Every Applauds Morgan Hill

By Brittney Sherman

Visionary Michael Van Every sees opportunity in transit-oriented mixed-use developments — outside of San Jose’s downtown core. Van Every is the President and Managing Partner of Republic Urban Properties, who completed an 83-unit apartment mixed-use complex in Downtown Morgan Hill in 2020. He commended Morgan Hill’s Economic Development, Planning, and City Manager’s offices for their commitment and expediency to supporting the Sunsweet Project every step of the way. Van Every said Morgan Hill is prepped for additional compact development and he will be keeping an eye out for future development opportunities.

Read the full article HERE.


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

 
2022 Structures Award Received by Butterfield 5

2022 Structures Award Received by Butterfield 5

By Brittney Sherman

Each year, the Silicon Valley Business Journal presents its Structures Awards, honoring the best commercial real estate projects, deals, and people in the region. On Thursday, September 29, the Silicon Valley Business Journal awarded Morgan Hill’s Butterfield 5 Technology Park the 2022 Structures Award for best Industrial Project.

Read the full article HERE.


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

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