Daily Business Report-June 26, 2013
State Senate Approves Changes to
California Enterprise Zone Program
The state Senate late Tuesday passed a compromise version of Gov. Jerry Brown’s proposal to retool California’s enterprise zone program in a way the governor hopes will encourage manufacturing and job growth. Three Republicans joined Democrats in voting 30-9 to meet a two-thirds vote threshold on AB93. The bill now moves to the Assembly.
Brown, who has called the enterprise zone program both wasteful and inefficient, has been advocating for changes for more than two years. He first proposed eliminating the economic development program along with community redevelopment agencies.
Senate President Pro Tem Darrell Steinberg said the compromise cleans up a flawed economic development program while adding tax incentives to make California more business friendly. The bill would redirect $750 million in business tax credits by using the money on three new economic development programs. Those include a sales tax exemption on manufacturing or research-and-development equipment, a credit for hiring veterans and those who are among the long-term unemployed, and a tax credit to encourage businesses to expand and retain jobs in the state.
“It’s not just about what’s being restricted or being eliminated, it’s what’s being gained, what’s being created,” Steinberg said.
Some Democratic senators expressed misgivings about a dismantling a well-intended economic development program while other Republicans were tempted by tax incentives they believe could create jobs in under-served communities in their district. Republican Sens. Tom Berryhill, Anthony Cannella and Steve Knight crossed party lines to support the bill.
(Reported by KCRA.com)
From Stem Cell Research to Drones: San Diego’s Impact
San Diego is making its mark in sectors ranging from unmanned drones to stem cell research to software analytics, thanks to cutting-edge innovation. Voice of San Dieg’s Kelly Bennett is taking a closer look at these fields and searching for other areas in which San Diego innovation is thriving. CONNECT CEO Duane Roth commented on the progress and leadership exhibited by San Diego’s stem cell and regenerative medicine research communities, expressing the promise San Diego’s research teams give to modern medicine, doctors, and patients. Read the story at:
voiceofsandiego.org/2013/06/24/phones-drones-and-genomes-top-sectors-where-sd-makes-a-mark
Proposal Would Shift Downtown Parking Meter Enforcement Hours
The hours that parking meters are enforced in part of Downtown San Diego could be shifted under a yearlong pilot program to be considered today by the Civic San Diego Board of Directors. The current hours are 8 a.m. to 6 p.m. daily, except for Sundays and holidays. The proposal would make the hours 10 a.m. to 8 p.m. daily, except for Sundays and holidays. The affected area would be bounded by First and Seventh avenues, and Broadway and a section of Harbor Drive in front of the Convention Center, according to Civic San Diego. The goal of the Downtown Parking Management Group, an advisory panel of residents, business representatives and community groups, is to increase utilization of parking spaces to 85 percent. The current utilization rate was not immediately available. The group has been working on several ideas to increase use of metered spaces, including adjusting prices and installing equipment that accepts credit cards.
Davis Bill Would Require Companies to Disclose Online Price Discrimination
If you live in a certain town or view certain websites, or if you use a Mac instead of a PC, you could be paying more when you shop online, according to Rep. Susan Davis (D-San Diego). Most consumers are unaware that some Internet companies are now adopting a practice known as “dynamic pricing” — using consumers’ personal information — including browser history and IP address — to alter the price of their products. Davis has introduced legislation to empower consumers and require that Internet companies disclose whether they are adjusting a product or service’s price based on the consumer’s personal information. The Ensuring Shoppers Honest Online Pricing (E-SHOP) Act would require an Internet company to clearly and prominently disclose the use of a price-altering program to a consumer prior to the final purchase of a good or service. Consumer Watchdog has endorsed Davis’s bill.
Cruzan|Monroe Acquires Pacific View Plaza
Cruzan|Monroe has acquired Pacific View Plaza in Carlsbad for $10.3 million. Located at 5973 Avenida Encinas, the three-story 51,695-square-foot office building was 88.3 percent leased at the time of sale. The seller was a real estate investment truust. CBRE San Diego will market and lease the project. Built in 1986, Pacific View Plaza features an open-atrium style design, an interior courtyard with tropical landscaping, shower and locker facilities, highly divisible floor plates and ocean views.
Most Innovative New Product Awards Nominations Open
Nominations for the 2013 Most Innovative New Product Awards will open on Monday. CONNECT continues its 26-year tradition of honoring San Diego’s innovation leaders and celebrating the revolutionary new products launched within the last year. More than 100 San Diego-based companies will compete in this year’s four-month judging process, but in the end, only nine walk to the podium to receive the honor. Nominations are being accepted through Aug. 30 in the following categories: Sport & Active Lifestyle Technologies; Aerospace and Security Technologies; Communications and IT; Hardware and General Technology; Life Sciences: Diagnostics and Research Tools; Life Sciences: Medical Products; Mobile Apps; Software Sustainability. For more information, visit
connect.org/most-innovative-new-product-awards
Paradigm Mechanical Corp. Certified for SBA Program
Paradigm Mechanical Corp., a woman-owned small business mechanical contracting company in San Diego, has been certified by the U.S. Small Business Administration as a participant in the SBA’s 8(a) Business Development Program. Divided into two phases over nine years, certified companies advance from a four-year development stage to a five-year transitional stage. Founded in 2010, Paradigm works with building owners, tenants and general contractors in the design/build of mechanical systems for medical, laboratory, government and industrial facilities in Southern California. Paradigm has completed projects for clients such as Rady Children’s Hospital, Sharp Rees-Stealy Medical Group, San Diego Metropolitan Transit System, Solar Turbines and the city of San Diego.
California Bank & Trust Names Del Mar Branch Manager
California Bank & Trust has named Marina Phillips, vice president and the new Del Mar branch manager, located at 2775 Via De La Valle, San Diego. Phillips was previously a vice president commercial banker for CB&T’s Carmel Valley office. Phillips brings more than 13 years of banking experience to the role of branch manager. Prior to CB&T, Phillips was vice president/relationship manager of business banking at US Bank. Phillips is a member of the San Diego Venture Group and volunteers with the MIT Forum.
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Mama’s Kitchen Achieves 58 Percent of its Fundraising Goal
Mama’s Kitchen hosted a capital campaign celebration last week to show the progress of the organization since its move into a new building in 2011. The organization said that, as of May 14, Mama’s Kitchen has achieved 58 percent of its goal, raising $1.5 million of the $2.6 million to pay for the purchase and renovation of the new building at 3960 Home Ave. in City Heights. This has given the organization a permanent location and increased the organization’s capacity to serve more people and provide more in-house prepared foods. The public’s help is needed to raise $1.1 million to complete the first phase.
