By Faughn Economy • New Developments • Quality of Life 0 Comments

New development planned in 2024

New year, new construction planned throughout the city of Turlock. From houses to hotels, recreational spots to restaurants, here is a list of some things to expect in 2024.

Housing

New homes and apartments are expected to come to Turlock, with several already having been built.

Northeast Turlock has seen the development of new residential neighborhoods, which are being tabbed as the Legends North III, a project spearheaded by JKB Living. The new community will have 65 building sites with there being six different floor plans. There will also be a centralized neighborhood park.

Perhaps the largest residential project expected to be completed in 2024 is the Monte Vista Apartments at 1525 W. Monte Vista Ave., a 348-unit multi-family residential project. It was approved in August of 2021 and construction began this past May. There will be 12 three-story buildings approximately 40 feet in height, with each unit including a patio or balcony area. An exact competition date has not been shared.

Over in west Turlock at the vacant lot on the corner of 1150 Angelus St. and 700 S. Soderquist Rd., an application was approved in August to develop three properties with a total of seven residential units. Each unit will have two bedrooms, one bathroom, a kitchen, a living room, and an outdoor patio area. The project was originally intended to be finished in 2022, but delays in the planning process pushed construction and opening to this year.

Hotels

Two new hotels have been approved and are expected to be finished in 2024.

The first is the Marriott Towneplace at 201 N. Tully Rd., which was approved in Sept. of 2022. It will stand at 61 feet and 6 inches from grade to highest point. With these measurements, it will be the highest hotel in Turlock by 1 foot and 6 inches.

The other is Staybridge Suites at 2931 Sun Valley Ct. The hotel was approved in May and will also receive a 35-foot height limit exception.

Gas stations

Despite the sales of electric vehicles estimated to surpass over 1 million in 2023, according to Wards Intelligence and Cox Automotive, gas stations and accommodating convenience stores will continue to pop up around town.

In October, a Valero gas station and Circle K store opened at 2500 Fulkerth Rd. Joining it will be new stations at 4201 N. Golden State Blvd. and 129 E. Linwood Ave., respectively, though the brand of gas at each site has not been revealed.

In addition, there has been another gas station proposed for 4555 N. Golden State Blvd. A hearing date for this proposal has not been settled on.

Food and drink

Soon to neighbor the Valero gas station and Circle K mart on 2500 Fulkerth Rd. will be a Rally’s fast-food restaurant. The national chain is known for their burgers and fries. The project was originally expected to finish this past summer, and it is unclear why there has been a delay in construction.

There is another nationally known brand breaking ground in Turlock, and it’s one that Turlockers have become all too familiar with — Starbucks. Starbucks opened their 10th overall location and sixth standalone establishment in the city in late 2023 at 3085 N. Tegner Rd. A seventh standalone site, this one at 1100 W. Monte Vista Ave., is expected to open in the first quarter of 2024.

Aside from national chains, a family-owned Mexican restaurant will be built downtown at 309 N. Center St. The name is Nivel, which is Spanish for “Level.” It’s pretty self explanatory as the approved building will be two stories. The applicants hope that the new restaurant can become a hub for live entertainment, such as mariachi bands.

Recreation

One of the most anticipated projects of the year will be the Columbia Pool on Columbia Avenue near Beech Street

The Columbia Pool was first constructed in 1957 and has undergone only minor repairs since 1990. The pool has been closed since before the COVID-19 pandemic.

A ceremonial groundbreaking was held at the pool site in early November. The project will cost $9,076,087.28, which takes into account construction, demolition of the old pool, and the purchase of pre-built structures for a concession stand, restrooms and a facilities/storage hut.

Industrial

West Turlock will see two major industrial projects completed this year.

The first project expected to be finished is the 10,000 square-foot expansion of Valley Milk, LLC’s processing facility at 400 N Washington Rd. The expansion will allow the plant to start producing Anhydrous Milk Fat, which is a concentrated, lactose-free butter with a fat content of 99.8%. It is used for cooking and frying as well as a shortening for shortbread, praline fillings, chocolate, chocolate bars and ice cream. The project is expected to be done early this year.

Nearby at 4407 W. Main St., Massachusetts-based technology company Divert Inc. plans to build a new, 71,000 square-foot state-of-the-art food recovery facility. The facility, which is also expected to open in the first quarter of 2024, liquifies and purifies unsold food and processes it into a clean food slurry. The slurry is then pumped directly into an on-site anaerobic digester, where it is turned into biogas, a mixture of gasses, primarily consisting of methane, carbon dioxide and hydrogen sulfide. The equipment then removes impurities from the biogas and upgrades it into pipeline quality Renewable Natural Gas (RNG) to meet utility company standards.

Divert has come to an interconnection agreement with PG&E. When the project is completed and operational, the processed RNG will enter PG&E’s on-site transmission line, replacing fossil fuel gas with a carbon negative renewable fuel to supply homes and businesses.

Note: Expected completion dates for each project are subject to change.

https://www.turlockjournal.com/news/local/new-development-planned-2024/

By Faughn Economy • New Developments 0 Comments

Fresno EDC, City Council To Explore Enticing Microchip Makers To Town

Fresno City Councilmember Nelson Esparza, in cooperation with Fresno Economic Development Corp. President and CEO Will Oliver, announced plans Tuesday to incentivize businesses to invest and develop semiconductor manufacturing in the city under the federal Creating Helpful Incentives to Produce Semiconductors (CHIPS) program.

At a city hall news conference, Esparza and Oliver discussed the Fresno CHIPs Incentive Act, which aims to bring a competitive edge to the city in attracting the semiconductor industry to be part of the growing U.S. supply chain and innovation ecosystem.

Signed into law during the first year of President Biden’s administration, the CHIPS and Science Act of 2022 aims to strengthen U.S. manufacturing and supply chains and invest more than $50 billion in research and development to ensure the U.S. continues to lead in nanotechnology, clean energy, quantum computing and artificial intelligence.

Incentives under the local proposal, to be considered by the Fresno City Council at its Thursday meeting, would allow eligible companies to receive tax breaks with the city, with the incentives being determined in part by the number of jobs created.

Joined by Oliver and Esparza were Fresno Chamber of Commerce CEO Scott Miller, San Joaquin Valley Manufacturing Association CEO Genelle Taylor Kumpe and City Attorney Andrew Janz.

“This legislation will provide us the edge we need to be competitive in this market as the industry begins to grow again here on U.S. soil. Fresno can lead the way in attracting those companies in the semi-conductor supply chain here in the Central Valley,” Esparza said.

He said the local legislation is complementary to the federal CHIPS act, making companies’ federal applications more competitive for securing local incentives.

Esparza said this legislation will be the first local CHIPS incentive act in California that is not tied to a state or federal municipality.

According to the proposal, the city will be looking at companies willing to commit capital investments of $20 million to $300 million and more.

Incentive amounts could range from 30-35% of capital investments.

Esparza said they are attempting to make a semiconductor hub in Fresno, positioning the city as a center for technological advancement and economic growth.

Oliver noted that the Fresno EDC was awarded $23 million dollars form the Good Jobs Challenge grant, meant to be used for recruiting and training the workforce.

He said the city has a unique position from an economic and logistical standpoint, offering a natural competitiveness and a strategic location between the major seaports of the state — as well as an available workforce.

The Fresno CHIPS Act program will not only attract semiconductor manufacturers, but complementary companies such as suppliers and distributors as well.

Every $15 invested for projects by companies will be matched with $1 locally to match the economic diversification and growth, Oliver said.

“We think this is great precedent moving forward to realign incentives to our community, our race to the top, living wages, access to health care and benefits, and access to jobs created by companies that are here to grow our economy and community,” Oliver said.

https://thebusinessjournal.com/fresno-edc-city-council-to-explore-enticing-microchip-makers-to-town/

By Faughn Economy 0 Comments

MADERA COUNTY: ADD A TIGHT RETAIL MARKET TO THE MIX

Despite the negative impacts from the closure of Madera Community Hospital to kick off 2023, the region saw continued growth with the promise of more in 2024 and beyond. Madera has always been known for having low industrial vacancy rates. For 2023, that extended to retail.

“This year we’ve had a tight retail commercial real estate market,” said Madera County Economic Development Commission Executive Director Darren Rose.

Rose added that in 2023, the county saw only 1-3% of commercial real estate plots available. The industrial real estate market also proved to have a tight 2023, limiting options for potential warehouse and logistic center expansion.

“There’s not a lot of options for retailers to locate,” he said.

Despite the challenge, 2024 looks to add more commercial real estate space up and down Highway 41, with industrial and commercial lots at Tesoro Viejo coming online this year, as well as developments of new commercial areas near Highway 41 and Road 200 as well as west near Highway 99 and Avenue 17. Rose hopes that 2024 brings more commercial and industrial investors to the area; he said that the continued development of both the Tesoro Viejo and Riverstone communities are playing a key factor in attracting potential investors.

Both neighborhoods are nationally recognized as lifestyle communities — residential builds in which residents share interest in similar social, recreational and fitness activities — something that Rose said is attractive to commercial developers.

“It’s been brought up in a couple of discussions with site selectors — the fact that we have those two new communities as well as a lot of other important developments throughout Madera Ranchos and other developments,” he said. “Tesoro is just a beautiful, well thought out area.”

Rose said that the continued expansion is bringing the Rio Mesa Plan to life. The plan, first introduced around 30 years ago, focuses on a mixture of residential, commercial and industrial zoning. The continued growth next year is echoed by Mike Prandini, president and CEO of the Building Industry Association of Fresno/Madera Counties. Homebuilding continues at Riverstone and Tesoro Viejo, which has space for nearly 12,000 new homes combined.

Madera’s development, in this regard, is unique to these master planned communities; Fresno is not able to develop in the same way because of the state’s new “vehicle miles traveled” metric, which determines the environmental impact of new housing developments.

Farther up Highway 99, the AutoZone distribution center is scheduled to open in 2024 and looks to bring around 350 new jobs to the area, in addition to employment opportunities through companies like PG&E and the construction of California’s High Speed Rail project. Rose hopes an improving economy will play a key role in driving some of these developments, citing the recent weeks’ uptick in the condition of inflation rates.

“As the macro-national environment improves, I think everything goes downstream from that — from interest rates and inflationary concerns,” Rose said, adding that as the rates continue to go down more secure interest will be focused on industrial, commercial and retail projects.

“I think that’s a safe thing to say,” he added. “I’m not saying there’s a lot of money parked on the sidelines. But if you read the Wall Street Journal you can pretty much garner that there’s a lot of money parked on the sidelines because firms, banks — they’re waiting to see what unfolds with the economy.”

Overall, despite 2023 presenting new and unpredictable challenges through the economy and mother nature, Rose said that the outlook for 2024 is promising, stressing Madera County government’s business-friendly attitude.

“That’s been one of my best selling points,” Rose said. “Obviously, government processes, they take time, but those entities want to make it possible to get deals moving forward.”

Rose also mentioned the partnership between the Madera County EDC and PG&E, which is making considerable investments in human workforce, as well as infrastructure expansion, which will help businesses continue to grow.

“We’ve made headway; it’s not perfect, we’ve had delays, but PG&E is doing what it takes in order to serve our business and our residential communities,” he said.

In addition to the partnership with PG&E, Rose stressed Madera County’s potential in another key commodity that the county possesses: land. Through government programs outlined by the State of California, the county is poised to see job growth thanks largely in part to the available land for projects to be built on.

“With the governor’s California Jobs First…those primary focuses are job creation — creating the foundation necessary to help garner job growth,” Rose said, adding that the initiative will expand infrastructure necessary for continued job creation.

While always welcoming new businesses, Rose said that the EDC’s primary “bread and butter” for job growth is already established.

“The fastest way forward for us are our local businesses that are expanding,” he said.

https://thebusinessjournal.com/madera-county-add-a-tight-retail-market-to-the-mix/

By Faughn Economy 0 Comments

5,981% GROWTH IN THREE YEARS? CENTRAL VALLEY COMPANIES MAKE EXCLUSIVE LIST

Nine Central Valley companies scratched out a spot on the 2023 Inc. 5000 list of fastest-growing companies in the U.S.

National business magazine Inc. ranked participating private companies on three-year revenue growth — from 2019 to 2022 — for this year’s list. The minimum revenue required for 2019 is $100,000; the minimum for 2022 is $2 million.

To qualify, companies must have been founded and generating revenue by March 31, 2019. They must be U.S.-based, privately held, for-profit and independent — not subsidiaries or divisions of other companies — as of Dec. 31, 2022.

The annual list of 5,000 U.S. firms reflects companies with the greatest impact on the U.S. economy, according to Inc. They reported a combined $358 billion in 2022 revenue and created more than 1.1 million jobs.

“Overall, median revenue growth for the top 500 com­panies in 2022 ticked up to 2,238 percent from 2,144 percent the previous year,” according to Inc. “Those metrics add up to a lot of very determined entrepreneurs looking for solutions to the biggest problems facing us today.”

Fresno’s Empower Solar logged in at No. 78 on the list with three-year revenue growth of 5,981%. Under the leadership of Landon Wimmer, the company founded in 2019 is a residential and small business solar installation company.

The following local companies also made the Inc. 5000 list for 2023.

No. 535
Balanced Comfort
Fresno
1,094% growth
Construction/plumbing/HVAC

No. 1,571
EZ ELD Solutions
Fresno
363% growth
Logistics & transportation

No. 1,843
Sierra Pacific Group
Madera
304% growth
Business products and services

No. 3,072
Wellpointe
Fresno
169% growth
Health services

No. 3,078
EKC Enterprises
Fresno
168% growth
Business products and services

No. 3,434
Clark Bros.
Fresno
145% growth
Construction

No. 4,054
Anderson Real Estate Group
Visalia
113% growth
Real estate

No. 4,509
Lee’s Air, Plumbing, & Heating
Fresno
93% growth
Energy

https://thebusinessjournal.com/5981-growth-in-three-years-central-valley-companies-make-exclusive-list/?mc_cid=fe6be63b0d&mc_eid=a3349d7e4d

By Faughn Economy 0 Comments

LATHROP: CALIFORNIA’S FASTEST GROWING CITY

Lathrop — powered by new home sales in the 15,001-home planned River Islands community — was California’s fastest growing city during 2022 based on new growth. The State Department of Finance Monday reported that Lathrop’s estimated population soared past the 35,000 mark as of Jan. 1 to reach 35,080 residents. That reflects an 11.1 percent year-to-year gain. It is important to note Lathrop’s population surge was based on new growth. Overall on the state’s list, Lathrop comes in at No. 2 for population growth at 11.1 percent.

Topping the list is Paradise with a 24.1 percent jump to 9,941 residents. To put that in perspective, before the 2018 wildfires wiped out much of the Butte County community killing 86 people in 2018, Paradise had 26,532  residents. Its population dropped to 4,719 in 2019. In the Department of Finance’s list of cities over 30,000, Lathrop was first at 11.1 percent while Manteca was fifth at 2.3 percent. All cities combined, Lathrop would drop to second and Manteca to sixth due to the rebuilding  in Paradise. Between both Manteca and Lathrop, there are 123,883 residents.

In raw population gain, Lathrop added 3,505 residents for the top overall gain in the state. Manteca was sixth with 2,019 additional residents. In 2021, Lathrop had added 1,947 residents to be ranked as 13th largest numerical gain in the state that year. Right behind Lathrop at 14th in 2021 with 1,864 additional residents was Manteca. But given Manteca is roughly three times larger in population, Lathrop’s additional residents translated into a 6.63 percent growth rate as opposed to Manteca’s 2.19 percent growth rate that made it California’s 25th fastest growing city in 2021.

Manteca has consistently been adding between 1,600 and 2,200 residents during the past 8 years. Both Lathrop and Manteca are on pace to build roughly the same number of new housing units this year that they did in 2022. Manteca added 1,094 housing units last year to bring the city’s total to 30,399. Lathrop added 1,391 housing units last year to bring the city’s total to 10,388. Lathrop — as of Jan. 1, 2022 — was at 35,080 residents and Manteca at 88,803. Tracy, with 30,275 housing units last year, has a population of 95,615. That means household sizes are larger in Tracy than Manteca. Tracy, with 124 housing units less than Manteca, has 6,198 more residents. Tracy added 785 residents last year compared to 2,019 for Manteca.

In 2022, only 125 of the state’s 482 cities gained population. The Northern San Joaquin Valley — San Joaquin, Stanislaus, and Merced continues — continued to be one of the only two regions to grow collectively in population in California, although ever so slightly. The other was the Inland Empire in Southern California consisting of Riverside and San Bernadino counties.

The Northern San Joaquín Valley was up 604 overall residents. It would have been more but Stanislaus County lost 2,780 residents that cut into a 3,384 gain in San Joaquin County and a 1,202 gain in Merced County.

City population changes for

Northern San Joaquin Valley

Cities in the three-county Northern San Joaquin Valley region that gained residents and their estimated population as of Jan. 1, 2023 are as follows:

*Tracy went from 94,830 to 95,615.

*Manteca went from 86,784 to 88,803.

*Lathrop went from 31,575 to 35,080.

*Patterson went from 24,142 to 22,980

*Riverbank went from 24,670 to 24,695.

*Waterford went from 8,932 to 9,042.

*Hughson went from 7,497 to 7,565.

*Merced went from 88,657 to 90,116.

*Los Banos went from 46,827 to 47,347.

Cities in the three-county Northern San Joaquin Valley region that lost residents and their estimated population as of Jan. 1, 2023 are as follows:

*Stockton went from 321,911 to 319,731.

*Lodi went from 66,305 to 66,239.

*Ripon went from 15,921 to 15,769.

*Escalon went from 7,338 to 7,264.

*Modesto went from 217,699 to 216,995.

*Turlock went from 71,214 to 70,856.

*Ceres went from 48,207 to 47,27.

*Oakdale went from 23,241 to 22,980.

*Newman went from 12,162 to 12,040.

*Atwater went from 31,629 to 31,418.

*Livingston went from 14,352 to 14,257.

*Gustine went from 5,985 to 5,945.

*Dos Palos went from 5,697 to 5,640.

San Joaquin County overall, went from 782,811 to 786,145 residents.

Merced County went from 284,149 to 285,337.

Stanislaus County dropped from 548,719 to 54,939.

The three-county region now has a population of 1,617,421.

Overall population as well as

housing trends in California

Stable births, fewer deaths, and a rebound in foreign immigration slowed California’s recent population decline in 2022, with the state’s population estimated at 38,940,231 people as of Jan. 1, 2023.

Over the same period, statewide housing growth increased to 0.85 percent – its highest level since 2008.

California added 123,350 housing units on net, including 20,683 accessory dwelling units (ADUs), to bring total housing in the state to 14,707,698 units. New construction represents 116,683 housing units with 63,423 single family housing units, 51,787 multi-family housing units, and 1,473 mobile homes.

The 0.35-percent population decline for 2022, roughly 138,400 persons, marks a slowdown compared to the recent decline during the COVID-19 pandemic.

Between 2021 and 2022, California’s population decreased 0.53 percent or 207,800 persons, due mainly to sharp declines in natural increase and foreign immigration.

For 2022, natural increase – the net amount of births minus deaths — increased from 87,400 in 2021 to 106,900 in 2022. Births decreased slightly from 420,800 in 2021 to 418,800 in 2022, while deaths declined gradually from 333,300 persons in 2021 to 311,900 persons in 2022, respectively.

Foreign immigration nearly tripled in 2022 compared to the prior year, with a net gain of 90,300 persons in 2022 compared to 31,300 in 2021. While foreign immigration to California has nearly returned to pre-pandemic levels, natural increase has not rebounded.

Total births remain low due to fertility declines; while deaths have eased gradually from their pandemic peak, they remain elevated.

With slower domestic in-migration and increased domestic out-migration likely the result of work from-home changes, declines in net domestic migration offset the population gains from natural increase and international migration.

Among the highlights of the population report:

*Of the ten largest cities in California, only three gained population: Sacramento had the largest percentage gain in population (0.2 percent, or 1,203) followed by Bakersfield (0.2 percent, or 882) and Fresno (0.1 percent, or 599).

*Accessory dwelling unit production increased by 60.6 percent, with the state adding 20,638 ADUs in 2022.

*Group quarters represent 2.4 percent (926,000) of the total state population. This population includes those living in college dormitories (269,000) and in correctional facilities (168,000). In 2022, California’s group quarters population increased by 11,000 people or 1.2 percent.

*The college dormitory population grew by 16,000 (6.2 percent). Correctional facilities declined in population in 2022 by 4,200 people (-2.5 percent) across federal, state and local facilities.

*As college dormitory populations continue to return to a post- pandemic normal, several jurisdictions saw significant gains in population due to this population. The City of Arcata in Humboldt County grew by 4.1 percent due to a 45.1 percent increase at Cal Poly Humboldt. The City of Marina in Monterey County grew by 2.5 percent due to a 12.6 percent increase at California State University at Monterey Bay.

*State prisons are generally located in remote areas; as a result, increases or decreases can account for significant changes in their respective area populations. For example, prison declines led to population decreases in Susanville (-9.5 percent) in Lassen County, Calipatria (-5.6 percent) in Imperial County, and Crescent City (-4.4 percent) in Del Norte County.

*Population growth slowed but remained positive in the interior counties of the Central Valley and the Inland Empire, while most counties saw declines, including every coastal county except San Benito (0.2 percent).

*Only two counties had growth above a half of a percent: Madera (0.6 percent) and Yuba (0.6 percent), due to housing gains.

*The next largest in percentage growth were San Joaquin (0.4 percent), Merced (0.4 percent), and Imperial (0.4 percent) counties.

*Forty-six of the state’s fifty-eight counties lost population. The ten largest percentage decreases were: Lassen (-4.3 percent), Del Norte (-1.3 percent), Plumas (-1.2 percent), Santa Cruz (-1.0 percent), Marin (-1.0 percent), Tehama (-1.0 percent), Napa (-1.0 percent), Lake (-0.9 percent), Monterey (-0.8 percent), and Los Angeles (-0.8 percent).

*The state’s three most populous counties all experienced population loss: Los Angeles declined by 73,293 persons (-0.75 percent), San Diego by 5,680 persons (-0.2 percent), and Orange by 14,782 persons (-0.5 percent).

https://www.mantecabulletin.com/news/local-news/lathrop-californias-fastest-growing-city/

By Faughn Distribution • Economy 0 Comments

‘A win for the entire region.’ Merced County awarded $49.6 million for Castle rail project

Merced County’s Castle Commerce Center is about to receive a huge boost in the form of a $49.6 million grant to build out an inland port that will improve its capacity to move freight worldwide. The California State Transportation Agency announced Merced County was awarded the grant on Thursday. “This will directly support our agricultural producers and manufacturers throughout the entire San Joaquin Valley,” said Merced County Board of Supervisors Chairman Scott Silveira.

“This is a win for the entire region,” Silveira added. “From local agricultural producers to major manufacturers throughout the Valley, being able to transport goods in a quick and efficient manner is absolutely critical. This grant will position us to drive our economy in the right direction.” In January 2022, Gov. Gavin Newsom proposed $1.2 billion for port and freight infrastructure to support the state’s goods movement networks, which have been hurt by global disruptions and increased port congestion in recent years. The grant will help the state develop a more efficient, sustainable and resilient goods movement system.

Castle’s rail district became operational in May 2022 under Patriot Rail, which operates the rail line and has already tripled the shipping volume to and from Castle in recent months, according to Merced County spokesperson Mike North. The grant will help area farmers, manufacturers and other businesses to ship and receive goods throughout the San Joaquin Valley cost effectively. “Castle’s inland port and rail activities is focused on increasing regional economic opportunities while reducing semi-truck traffic along our roadways,” North said. The $49.6 million grant will enhance Castle Commerce Center’s existing rail capacity by: Facilitating the development of 70 acres at Castle to support pre-shipment processing and intermodal cross-docking for Central Valley agricultural producers. Providing cost-effective, direct rail service for shippers. Expanding the railway to a new staging and container laydown area to support cross-docking and processing. Evaluating, engineering and planning for further expansion on existing land within Castle Commerce Center. Merced County Supervisor Daron McDaniel, whose District 3 includes Castle Commerce Center, said the inland port and rail district has been in the works for many years and is a major focal point for the county.

“This is a prime example of government facilitating an environment where the private sector can thrive,” McDaniel said. The Merced County inland port will support additional goods movement to and from the Port of Los Angeles, the Port of Long Beach and the Port of Oakland while making Merced County a focal point for inland goods movement. The rail district expansion project is expected to be complete by mid-2028. “With all that has been accomplished to date and coupled with this sizable state investment, Castle is proving to be the leading economic development site in California,” said Assistant Merced County Executive Officer Mark Hendrickson.

https://www.mercedsunstar.com/news/local/article277078128.html

By Faughn Economy • Food Processing 0 Comments

The Ugly Company: Saving ugly produce and creating a local business

Ben Moore’s mom affectionately nicknamed him “Big Ugly,” but that nickname came well before his business The Ugly Company.

The Ugly Company saves unsellable fruit from being tossed out and repurposes it into dried fruit snacks. Last year The Ugly Company saved and repurposed nearly 2.1 million pounds of food waste.

Moore and his Chief Brand Officer Matt Gorells joined the show with some samples of their ugly fruit and what their plans are for the future.

https://www-yourcentralvalley-com.cdn.ampproject.org/c/s/www.yourcentralvalley.com/cvt/the-ugly-company-saving-ugly-produce-and-creating-a-local-business/amp/

By Faughn Economy 0 Comments

California’s Best City to Invest in Rental Housing? It’s Madera

California rental housing investment returns may lag behind the rest of the country, but Central Valley cities have the biggest gains in the state. Zillow data show rent in Madera will pay back a 20% down payment — the typical amount needed for a rental property — faster than anywhere else in the state. Real estate website Agent Advice compiled the data.

Three Years to Get a Down Payment Back in Madera

At an average rent of $2,195 a month, .57% of the average home value, it only takes 36 months to pay off the down payment, four months shorter than the national average of 40 months. The state average to pay back a down payment is 50 months, due in large part to very high average property values, the report stated.

Hanford, Visalia, Fresno, and Bakersfield round out the top five, in that order.

Madera’s year-over-year rental rate increases far outpace the other four cities. Zillow’s rent index — which includes apartments — shows rents growing 17.4% to $1,997 a month in May. Rent hikes in the other four cities hovered around 5%.

  • Hanford 5.8% to $1,774
  • Visalia 5.1% to $1,720
  • Fresno 5.1% to $2,005
  • Bakersfield 4.7% to $1,754

Madera Population Growth Modest, Bakersfield Trends Fastest

Population growth in Madera falls behind other cities in the ranking. Of the top five, Bakersfield has undergone the biggest population boom over the past five years, growing 6.15% to 408,373 as of Jan. 1, according to the California Department of Finance. Madera only grew 1.7% to 65,540 people. Visalia has grown 5.37%, with a population of 143,031 people.

For landlords competing with housing affordability, Madera County has one of the highest housing affordability ratings in the Central Valley. Approximately 54% of households can afford an entry-level home in the county, according to the California Association of Realtors. Tulare and Kings counties have slightly higher shares with 55% of households able to afford an entry-level home.

The state affordability average is 36%.

https://gvwire.com/2023/06/19/californias-best-city-to-invest-in-rental-housing-its-madera/#:~:text=California%20rental%20housing%20investment%20returns%20may%20lag%20behind,%E2%80%94%20faster%20than%20anywhere%20else%20in%20the%20state

By Faughn Economy • Logistics • Workforce 0 Comments

The 10 best U.S. cities for new college grads based on job prospects, average income and more

The class of 2023 has made it pretty clear that they are ready and willing to move for job opportunities — and the destination doesn’t have to be a metropolis like New York City or Los Angeles. Zillow revealed exclusively to CNBC Make it, the marketplace’s 2023 ranking of the best places in the U.S. for recent college graduates.

The study analyzed the cities based on the following factors:
  • Rent-to-income ratio
  • Average salary for recent college graduates
  • Job openings
  • Share of the population in their 20s

“Navigating rent affordability can pose challenges for recent graduates entering the housing market, especially if they are doing it for the first time,” Nicole Bachaud, Zillow senior economist, tells CNBC Make It.

“It is important for these graduates to remain mindful of impending student loan repayments that will soon come into play, which will factor into the budgets of many and may impact housing decisions.”

Zillow’s report found that the second-largest markets across the U.S. can offer college graduates a higher quality of life and an accessible cost of living.

Top 10 best U.S. cities for recent college graduates
  1. Colorado Springs, Colo.
  2. Spokane, Wash.
  3. Des Moines, Iowa
  4. Phoenix, Ariz.
  5. Buffalo, Ariz.
  6. Albuquerque, N.M.
  7. Bakersfield, Calif.
  8. Albany, N.Y.
  9. Portland, Ore.
  10. Little Rock, Ark.

Colorado Springs, Colorado, ranked no. 1 on Zillow’s list of the best U.S. cities for recent college graduates. The Zillow Observed Rent Index found that the average rent in the Colorado city is $1,824, compared to $2,031 in Denver, about 90 minutes away. The study found that the average salary for a recent college grad in Colorado Springs is $63,190—which means the rent ratio is 35%. Colorado Springs is home to the University of Colorado: Colorado Springs, and Colorado College, both places that offer employment opportunities to their own recent grads and graduates of nearby colleges like Pikes Peak Community College.

Spokane, Washington, ranks second on the list. The average rent in Spokane is $1,563, compared to Seattle, where it’s $2,223, according to Zillow. And the average salary in the city is $61,162 making the rent-to-income ratio 31%. Like Colorado Springs, Spokane, Washington, is the second-largest city in its state. During the pandemic Spokane saw a rise in remote job postings and has been able to maintain that rate, specifically in areas of technical services, health care, social assistance, finance and insurance.

Rounding out the top three is Des Moines, Iowa. The city is a hub for recent college grads looking to get into the insurance and financial services sector. Some major companies with a significant presence in Des Moines include Wells Fargo and UPS. According to Zillow, the typical rent is $1,202, while the average salary for recent college grads is $59,697. The rent-to-income ratio in Des Moines is 24%, which is less than a quarter of the average salary for 2023 college graduates, $59,600, according to The National Center for Education Statistics. “With strong job growth and affordable rents, Des Moines becomes an attractive city for recent grads to build their careers and enjoy a comfortable lifestyle,” Emily McDonald, Zillow rental trends expert, tells CNBC Make It.

https://www.cnbc.com/2023/05/24/top-10-best-cities-for-new-graduates-zillow-report.html

By Faughn Economy 0 Comments

STUDY: CENTRAL VALLEY A PROPERTY TAX VALUE PARADISE

Paying property taxes is no picnic, but according to a new analysis, Central Valley residents receive the best value for their tax dollars in all of California. Financial information firm SmartAsset first calculated changes in property tax rates per capita. It also tracked school district rankings and home value growth for 2022 over a five-year period. It formed an overall index of all those factors to determine where property tax revenue is most effectively spent in the Golden State.

No. 1 was Kings County with an overall index score of 62.25. Home values in Kings County, where the property tax rate was 0.79%, grew by 65.08% in five years (No. 8 overall). Analyzing quality of schools based on math and reading/language arts proficiency scores, Kings County had a 5.00 school rating (No. 3 overall).

Fresno was No. 2 for SmartAsset’s best property tax value list with an index score of 58.56. In Fresno County, with a property tax rate of 0.82%, home values increased by 70.93% over five years (No. 5 overall). The school score index was 7.00 (No. 2 overall). Tulare County came in at No. 5 with an index score of 55.52. Its school rating score was 2.00, with home values increasing by 68.14% (No. 7 overall). It had a 0.75% property tax rate.

Madera County scored at No. 7 with a 53.24 overall index. Home value growth was 71% (No. 4 overall), while the school rating score was 2.00 and the property tax rate was 0.74%. Other counties packing the best overall property tax value list were Imperial at No. 3, Lassen at No. 4 and Merced at No. 6.

https://thebusinessjournal.com/study-central-valley-a-property-tax-value-paradise/