Daily Business Report: July 12, 2024
Five new television projects
to film in California
through the state’s tax credit program
As part of the California Jobs First initiative, the California Film Commission (CFC) today awarded $58 million in tax credits to support five television projects through the state’s Film and Television Tax Credit Program. These productions – a recurring series, a limited series, and three new series – are expected to generate approximately $386 million for California’s economy across the 438 filming days occurring throughout the state.
The projects receiving awards today include 20th Television’s legal drama “All’s Fair,” Faith Media Distribution’s “Lot Patrol,” HBO Original Drama Series “Latitude,” and more.
“We are pleased to see these new projects taking advantage of California’s unparalleled resources and talent pool, said Colleen Bell, California Film Commission director. “During the first half of 2024 alone, the Film and Television Tax Credit Program has attracted twelve new and one relocating television series to California, creating essential jobs for the industry and sustaining the livelihoods of thousands of cast and crew members. It’s a testament to our resilience and the critical role of film and television in our state’s economy.”
TOP Photo by Avel Chuklanov on Unsplash
________________________________________
Todd Butler appointed dean of SDSU’s College of Arts and Letters
Following a nationally competitive search, Todd Butler, former dean of the College of Arts and Sciences at Washington State University, has been appointed dean of San Diego State University’s College of Arts and Letters.
At WSU, Butler oversaw strategic planning efforts, academic and fiscal operations, hiring, tenure and promotion, and leadership and professional development initiatives for the College of Arts and Sciences. During his deanship, which began in 2021, Butler is credited with leading the college in generating more than $200 million instructional revenue, hiring more than 30 equity-oriented faculty, and increasing resources for research and public engagement.
At SDSU, Butler, an interdisciplinary scholar and academic leader, will oversee strategic, research, classroom and creativity projects and partnership initiatives in CAL, the largest of the university’s academic colleges, which provides the core liberal arts courses required for all SDSU’s bachelor’s degrees
________________________________________
California just approved a new blueprint for
offshore wind. The massive projects will cost billions
By Julie Cart | CalMatters
The California Energy Commission unanimously approved a sweeping plan to develop a massive floating offshore wind industry in ocean waters — a first-of-its-kind undertaking that will require billions in public and private investments and could transform parts of the coast.
The new state plan sets the path for harnessing wind power from hundreds of giant turbines, each as tall as a 70-story building, floating in the ocean about 20 miles off Humboldt Bay and Morro Bay. The untapped energy is expected to become a major power source as California electrifies vehicles and switches to clean energy.
California’s wind farms represent a giant experiment: No other place in the world has floating wind operations in such deep waters — more than a half-mile deep — so far from shore.
The commission’s vote came after representatives of various industries, environmentalists, community leaders and others mostly expressed support for offshore wind, although some voiced concerns. State and federal officials use the word “urgency” to describe the frenetic pace needed to lay the groundwork for development of five areas that the federal government has leased to offshore wind companies.
“I feel the urgency to move forward swiftly,’ said energy commissioner Patty Monahan. “The climate crisis is upon us. Offshore wind is a real opportunity for us to move forward with clean energy.”
________________________________________
Kroger, Albertsons release list of local
stores to be sold under proposed merger
By Brooke Binkowski | Times of San Diego
Kroger and Albertsons released a list of 579 stores that would be sold off under a proposed mega-merger of the grocery giants Tuesday — including 63 locations in California, most of which are in southern California. Kroger’s chief executive officer reportedly sent a memo to employees at all of the affected stores notifying them of the plans to spin off the locations to C&S Wholesale Grocers if the merger goes through. All employees are expected to be able to maintain their employment with C&S.
The merger is currently being challenged by the Federal Trade Commission, which claims the proposed $24.6 billion merger would lead to higher grocery prices through a reduction in marketplace competition, and also potentially negatively affect workers.
Kroger has denied such claims, insisting that no stores, distribution centers or manufacturing facilities would be closed, and claiming that “customers will benefit from lower prices and more choices” through the merger.
Alaska Airlines to launch new nonstop service to Reno and Vail
Alaska Airlines is reinforcing its commitment to enhancing two new destinations from San Diego to winter wonderland retreats that will offer guests a blend of adventure and relaxation. Tickets are now available on alaskaair.com
Starting Dec. 19, Alaska is launching new nonstop, roundtrip service to Reno, and on Dec. 20, new nonstop, roundtrip service to Vail , via the nearby Eagle County Airport.
“We’re thrilled to offer our San Diego friends quick service to the most popular ski slopes in North America such as majestic Vail and Beaver Creek in Colorado, and Heavenly, Kirkwood, Sierra-at-Tahoe , Northstar, Mount Rose and Paradise Tahoe (formerly Squaw Valley) in the greater Lake Tahoe region,” said Kristen Amrine, vice president of network planning and revenue management at Alaska Airlines.
SDCCU honored with Large Business of the Year Leadership Award
SAN DIEGO — San Diego County Credit Union has been named the winner of the Large Business of the Year Leadership Award at the North San Diego Business Chamber’s annual Celebration of Business event, held on June 27 at the San Diego Marriott Del Mar. The award celebrates the best and brightest in the San Diego business community, honoring individuals, businesses and organizations that demonstrate achievement in management, workplace excellence and social responsibility, with a commitment to San Diego.
San Diego’s ‘Second Saturdays’ cleanups starts July 13
SAN DIEGO — To help remove trash and debris from San Diego neighborhoods, the City of San Diego is partnering with several organizations on a community-driven series of cleanups called “Second Saturdays” with an 8 a.m. kickoff event in downtown San Diego on Saturday, July 13. The goal is to expand the cleanups throughout the city with small groups of volunteers collecting litter in their neighborhoods on the second Saturday of each month. The nonprofit Street Stewards will help coordinate the effort by identifying neighborhood captains to organize the monthly cleanups.
Vista City Council approves $2 million for affordable housing projects
VIST — Vista City Council approved $2 million for a 56-unit affordable housing project at 902 Vista Village Drive. All units will be studios designated for individuals earning 60 percent or less of the area median income (AMI), half of the units reserved for those making 30 percent or less, and 10 percent set aside for veterans. A future project at 211 Palm Drivewill provide 70 affordable units for residents 55 and older who earn up to 60 percent of the AMI. The projects aim to reduce homelessness and support vulnerable populations with essential services.
Cal State San Marcos makes Money’s list of ‘ Best Colleges in America’
SAN MARCOS — Cal State San Marcos received four out of a possible five stars on Money magazine’s list of “Best Colleges in America” for 2024, which was released last month. The ratings of 745 colleges and universities is based on graduation rates, cost of attendance, financial aid and alumni salaries, among other factors. Money has used the rating system since 2022, calling it a more accurate representation than numerical rankings. CSUSM was also on Money’s list of “Best Public Colleges,” “Best Colleges in the West,” and Best Colleges with High Acceptance Rates.”
Each of the 23 California State University schools made the list, including four that earned five stars.
Cetera welcomes father-daughter team to Summit Financial Networks
SAN DIEGO — Cetera Financial Group, the premier financial advisor Wealth Hub, announced that a nine-person team doing business as Rally Wealth and Benefits has joined Summit Financial Networks. The firm, led by President Bruce Glenn and his daughter, Managing Partner Kristina Strickland, provides comprehensive financial planning and investment advice to clients and had more than $325 million in assets under administration as of March 1, 2024. Glenn and Strickland have a combined 26 years of industry experience.
Fulcrum displays commitment to GIS tech sector at Esri User Conference
SAN DIEGO —Fulcrum, an industry-leading platform for geospatial field data collection and process management, is proudly displaying its commitments to the GIS technology sector at the Esri User Conference 2024. Highlights include the company’s longstanding involvement in field-based data collection and process management, recent dramatic enhancements in platform capabilities, and its new attainment of Silver Partner within the Esri Partner Network. For over a decade, Fulcrum has been integrating with Esri as its clients leveraged Fulcrum’s cutting-edge data collection capabilities.
Element Biosciences raises over $277 million
Element Biosciences Inc., developer of pioneering technologies to empower science, announced over $277 million in Series D investment to support its growing global customer base with disruptive DNA sequencing and multi-omics technologies for years to come. The oversubscribed round was led by Wellington Management with participation from new and existing investors, including Samsung Electronics, Fidelity, Foresite Capital, funds and accounts advised by T. Rowe Price Associates Inc, and Venrock, among others. This brings Element’s cumulative raise to over $680 million.
PetDesk unites with Veterinary Management Groups
SAN DIEGO — PetDesk, a leader in veterinary communication and workflow solutions, is excited to announce a strategic partnership with Veterinary Management Groups (VMG). This collaboration will bring PetDesk’s innovative technology to VMG’s dedicated members, enhancing the efficiency and effectiveness of independent veterinary practices nationwide. PetDesk has evolved through the strategic acquisitions of Vetstoria, WhiskerCloud, and Kontak, each bringing their unique strengths to the table.
Term Labs announces $5.5 million in strategic funding
SAN DIEGO — Term Labs Inc., a leader in blockchain R&D, is proud to announce the closure of a strategic funding round totaling $5.5 million. This brings the company’s cumulative funding to date to $8 million. Leading this round was Electric Capital, with Maelstrom (Arthur Hayes), Ava Labs Blizzard Fund, Arete Capital, Inception, Delta Blockchain Fund and others participating. Angel investors, including Ether.fi founder and CEO Mike Silagadze, GP and Founder of Paper Ventures, Danish Chaudhry, founder and anaging Partner of Neoclassic Capital, Steve Lee, co-host of Up-Only, Ledger Status, co-host of Into The Ether Podcast, Eric Conner, and co-host of The Edge Podcast, DeFi Dad, also joined the round.
TuHURA Biosciences prepares acquisition of Kineta’s anti-VISTA antibody
SAN DIEGO —TuHURA Biosciences Inc., a Phase 3 registration-stage immune-oncology company developing novel technologies to overcome resistance to cancer immunotherapy, and Kintara Therapeutics Inc., a biopharmaceutical company focused on the development of new solid tumor cancer therapies, announced TuHURA has entered into an Exclusivity and Right of First Offer Agreement with Kineta Inc. for the potential acquisition of Kineta’s KVA12123 anti-VISTA antibody and related rights and assets associated with and derived from the asset.
