Category: Economy

The Madera Economic Development Commission brought together a group of leaders across the state Wednesday for its 2026 Economic Summit at San Joaquin Wine Co., where panelists discussed rapid growth, regulatory hurdles, and long-term economic risks shaping the future of Madera County.

The Business Journal’s Managing Editor Gabriel Dillard served as moderator.

Much of the discussion focused on how and why Madera County has emerged as a growth leader in California. Developer Timothy Jones, who developed the Riverstone community, said that projects like Riverstone have succeeded despite early skepticism, giving credit to local partners and demand for housing.

“I think that the state of California needs houses,”Jones said. “I think that you have the opportunity to deliver those houses. I think with those houses will come commercial, retail, industrial opportunities that generate tax dollars that are going to benefit the communities in this area tremendously, and the key is just going to be to have the vision and support and effectuate.”

Joshua Peterson, Trumark’s president for its Central California division, said that timing has played a role, pointing to northward expansion that started in Fresno and has worked its way up to Madera with Riverstone and Tesoro Viejo developments.

He highlighted the importance of long-term planning to convert “bedroom communities” into job centers.

Panelists agreed that regulation continues to be the most significant hurdle with development. Sarah Bohn, the vice president of the Economic Policy Center for the Public Policy Institute of California, cited research showing California businesses face thousands of regulatory constraints, contributing to slower job growth and reduced competitiveness.

“Uncertainty and the volatility in the crisis in trade policy and other issues that are really driving pessimism among Californians,” Bohn said. Overall, Californians are pretty pessimistic, including small businesses, only 15% think now is a good time to expand their business.”

From an industrial perspective, Michael Matter, vice president of Central Valley Industrial Real Estate for Jones Lang LaSalle, said that Madera County has an opportunity to position itself as a logistics hub but currently lacks shovel-ready sites that are large enough for distribution facilities like Amazon.

Matter pointed to the need for more entitled industrial land and infrastructure to attract major users.

“Madera has the potential to become a logistics hub,” he said. “In my opinion, the some of the bigger challenges are with a million square feet being kind of the soup du jour for large occupiers.”

Energy access also came up as a recurring issue, with Jones even noting that a company had backed out of the area after not wanting to be in an area that PG&E covers.

Despite some of the risks, the panelists expressed optimism in the county’s future. With continued housing development, improved planning and targeted industrial recruitment, Peterson said that region could become a “formidable force for economic growth compared to surrounding counties.”

https://thebusinessjournal.com/madera-economic-summit-highlights-growth-potential-regulatory-hurdles-facing-the-county/

Tulare County leaders highlighted steady financial growth, modernization efforts and major investments in infrastructure, public safety and health services during the county’s 2026 State of the County address.

In her speech, Board of Supervisors Chair Amy Shuklian praised the commitment and dedication of her colleagues on the board and those who work closely with them, as well as county department heads and staff.

“I am confident that because of your leadership and commitment, the county’s future is bright,” she said. “While the state of California faces an uncertain future, the Tulare County Board of Supervisors remains committed to disciplined and responsible budgeting.”

The county’s net assessed roll (total taxable property value) grew by 6% over the year, adding $3 billion and bringing the total to nearly $53 billion, according to Shuklian.

She went on to tout the accomplishments of in 2025 and preview what residents can look forward to in 2026.

https://www.msn.com/en-us/news/us/future-is-bright-according-to-2026-state-of-tulare-county-address/ar-AA1XzRgV?ocid=BingNewsSerp

The competition for skilled employees has pushed employers to rethink what they offer. Health benefits, paid time off and flexible schedules have become table stakes. Increasingly, what separates a company that retains its best people from one that watches them walk out the door is something more fundamental: a stake in the business itself.

That shift is driving renewed interest in employee stock ownership plans, or ESOPs — a retirement and ownership structure that allows employees to accumulate company stock over time. For business owners in the San Joaquin Valley, ESOPs are emerging not just as a succession planning vehicle, but as a strategic tool for workforce development and long-term competitiveness.

What is an ESOP?

An ESOP is a qualified contribution plan — structured as a stock bonus plan or a combined stock bonus and money purchase plan — in which a company sets aside shares for employee benefit. Employer stock is purchased and allocated to individual participant accounts. When employees retire or leave, they can receive their distribution in cash or shares, which are then sold back to the ESOP.

Plans generally take one of two forms. In a nonleveraged ESOP, the employer contributes cash directly to the plan, which uses it to purchase company stock. In a leveraged ESOP, the plan borrows funds from a bank or other lender, with the employer guaranteeing the loan or committing to pay dividends, make contributions or both.

The scale of ESOP adoption nationally reflects growing employer interest. According to data from the U.S. Department of Labor, 309 new ESOPs were reported in 2023 — the most recent year for which data is available — adding 55,663 active participants. In total, 6,609 plans were identified as ESOPs in the United States, holding total assets of over $2 trillion.

Local momentum

The Valley’s business community has not been slow to take notice. Local companies operating under ESOP structures include Geil Enterprises, Horn Photo, Span Construction, engineering firm 4Creeks, FFB Bank, Teter Architects, and Swinerton Inc.

The most recent addition to that list is Milano Restaurants International, the Fresno-based parent company of Me-n-Ed’s Pizzeria, Me-n’-Ed’s Victory Grill, Blast & Brew, and Piazza del Pane. In late February, the company announced a newly established ESOP that enables employees to earn shares of company stock over time as tax-deferred retirement wealth.

“This structure will only make the Company even more efficient, innovative and responsive to meet our customers’ needs,” said CEO John Ferdinandi. “This is about more than ownership; it’s about creating a culture where every team member feels invested in our shared future.”

A changing workforce calculus

Deborah Nankivell, CEO of the Fresno Stewardship Foundation — a nonprofit with a mission to promote inclusive prosperity and wellbeing in the San Joaquin for present and future generations — sees the ESOP trend as part of a broader shift in how employers must think about talent.

“People are starting to realize if you do human development intentionally, more people will stay with you,” Nankivell said. “Even if they leave, it adds to the talent pool in your community, which also benefits you.”

Nankivell notes that each generation brings different strengths and expectations to the workplace, and younger workers in particular are looking for partnership, life-work balance and a sense that their contributions matter beyond a paycheck. She has also observed a broader diversification of the regional economy, with workers increasingly motivated to add value to the communities where they live — not just the companies that employ them.

Younger employees, she adds, are skeptical of the economic models that defined prior generations of business leadership. “For them and in business schools it’s all about the single bottom line and the shareholders,” Nankivell said. “How did that work out? People with a 401K or who want cheap consumer goods are happy, but people who want peace in the neighborhood — not so much.”

For entrepreneurs who want a profitable business that also adds value to the community, Nankivell argues the logic of ESOP structures is compelling: when a business performs, the people who built that performance share in the reward.

What business owners should know

Nankivell acknowledges that the specifics of an ESOP structure will look different depending on the size and ownership model of the business — whether it’s a small independent, a family-owned enterprise or a larger corporate entity. The values and vision of the leadership team matter as much as the mechanics.

In her experience, business owners become more motivated to explore the ESOP model once they see it working elsewhere and begin asking, “what’s in it for me?” Some may not be aware of the opportunity at all until they watch one of their best employees leave for a company that already has one.

Her advice to owners considering the transition is to start by listening — to employees, to advisors and especially to other business owners who have already made the move.

“The old model of ‘top-down, don’t mess with me because I said so’ — that’s done,” Nankivell said. “Leaders need to be humble, they need to listen, learn, hold people accountable and at the same time accept that human beings need grace.”

The best information, she says, doesn’t come from a white paper or a consultant’s pitch deck. It comes from the people who have been through it. “The best information is not an idea, but experience from the people who have done it,” Nankivell said.

https://thebusinessjournal.com/ownership-culture-how-esops-are-helping-valley-businesses-attract-keep-top-talent/