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Deep dive into the CHIPS Act

Deep dive into the CHIPS Act

By Brittney Sherman

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

REGISTER HERE

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.

 
The state of Silicon Valley

The state of Silicon Valley

By Brittney Sherman

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.

 
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

 
San Diego Retail Conference

San Diego Retail Conference

By Brittney Sherman

The International Council of Shopping Centers (ICSC) organizes several retail conferences every year, in locations worldwide. The City’s Economic Development Team attended the most recent conference in San Diego this past September. Here are some high-level takeaways: 

The concepts behind “right-sizing” and “de-malling” are leading the retail industry, and “outdoors everything” is being coined as an anchor of the 21st Century. Nationwide shopping centers are undergoing a revitalization, centering around housing, shopping, entertainment, and outdoor space. Developers are anchoring their sites with residential and backfilling with a mix of retail, grocery, entertainment, and even medical activations. Shopping Center Brokers and leasing agents are now taking an active role in the marketing and advertising of retailers, providing monthly marketing packets and social media services focused on engagement not followers.

Larger Anchor retailers are “right sizing” with discounted brands such as Saks off 5th Ave, Macy’s Backstage, Nordstrom Rack, Forever 21, etc. Several discount brands are aggressively expanding, including Grocery Outlet and Five-Below who is aiming to triple its footprint over the next 3 years. Restaurants and fast-food chains continue to stress the importance of drive-thru and designated delivery/pick-up access. Buffalo Wild Wings just launched their “mini-scape” which is a pick-up only location. If a fast-food restaurant’s model doesn’t currently include expedited services, it will very soon.

All in all, the various retailers and brokers we spoke with were amazed with Morgan Hill’s residential and industrial growth. To some, we were a market they hadn’t previously considered, and to others we were already a market they were actively planning to expand into.

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

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