News/Blog

News and thoughts from our staff

 
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.

 
Farm to table restaurant concept opens in Downtown Morgan Hill

Farm to table restaurant concept opens in Downtown Morgan Hill

By Brittney Sherman

MOHI Farm is the newest privately owned restaurant to open in Downtown Morgan Hill, following in the steps of Gorgio’s Italian Grill & Pizzeria, Sushi Confidential, Palmerino’s Italian Deli and Depot Street Pizza. Offering freshly brewed coffee and pressed juice, unique cocktails, and a menu featuring only the best in locally farmed ingredients, Mohi Farm has something for everyone. This farm to table restaurant is the newest concept in the Live+Lovel+Leal hospitality brand owned by hospitality guru and entrepreneur Frank Leal. Other properties in the Leal Hospitality Portfolio include Willow Heights Mansion, Granda Theatre, MOHI Social, and MOHI Wine.

Mohi Farm is located at the corner of Depot and E. 3rd Street and is open every weekend from 6 a.m.-9 p.m. Visit their website HERE to learn more.

 
Mass timber providing mass construction benefits

Mass timber providing mass construction benefits

By Brittney Sherman

Texas is jumping on the mass timber fan wagon with 50 mass timber projects currently under construction or recently completed, and another 84 projects in the development pipeline. Mass timber has historically been viewed as an expensive, risky, and unreliable building product. However, today mass timber is being celebrated for its sustainability, affordability, expedited construction timelines, and need for less workers to complete a project. While mass timber is still a novelty product in projects nationwide, its ability to produce quick and strong development returns will make it a household name for many developers soon enough.

Did you know………The Edes Building, a two-story art gallery currently under construction in Downtown Morgan Hill, is the City’s first project featuring cross laminated timber.

 
Supply chain issues ease while supply orders plummet

Supply chain issues ease while supply orders plummet

By Brittney Sherman

According to the National Retail Federation’s (NRF) Global Port Tracker Report, February 2023 is projected to experience one of the lowest drops in major container imports since the pandemic began. The forecasted figures are estimating a 25.6% drop since this same month last year, resulting in the lowest cargo import volume since 2020. Overall, the first half of 2023 is projected to see an estimated 19.4% decrease of import cargo volume, as compared to the first half of 2022. What’s the reason? Retailers are being extremely cautious with product and supply purchases, as concerns over inflation and an impending recession continue to rise.

Read the full report HERE.

 
Makers Market opens for 6th season

Makers Market opens for 6th season

By Brittney Sherman

We are now accepting vendor applications for the Spring 2023 Sidewalk Saturday Season! Started in 2020 to support home-based and retail small businesses through the pandemic, Sidewalk Saturdays has morphed into a beloved community event embodying the Buy Local spirit. This popular maker’s market located on 3rd street in Downtown Morgan Hill, features anywhere from 15-25 vendors. The 12-week season occurs every Spring and Fall, between 9 a.m.-1 p.m.

Learn more about Sidewalk Saturdays and submit your application HERE!

Have questions? Contact City of Morgan Hill Economic Development Coordinator Brittney Sherman at Brittney.sherman@morganhill.ca.gov

 
The hottest growing brands in 2023

The hottest growing brands in 2023

By Brittney Sherman

Expanding into underserved markets, developing new products in response to changing customer preferences, and keeping value-priced options are why Placer.ai lists these retailers as the top brands to watch in 2023:

Whataburger- 24-hour service captures customers after 9 p.m.

Wawa- convenience store food and customer loyalty at its best

Bob’s Discount Furniture- free coffee and value-priced furniture capitalizes on the shift in owner/occupied residences

Dave & Busters- acquired Main Event Entertainment to effectively “own” the eatertainment market

Hibbett Sports- brick-and-mortar strategy focused on small and mid-size markets with minimal competition

Five Below- the preferred discounter for the teen/tween market

Bootbarn- workwear, everyday wear and fashion as western wear popularity increases

Grocery Outlet- opportunistic buying power

Altar’d State- cozy, chic and affordable workwear for young professionals

Total Wine & More- dominating Midwest expansion

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