• Modify legislation that was approved in February of 2009 that allowed
  multi-state and multinational corporations to choose between two
  methods for stemming the share of their profits that would be taxed in
  California beginning in 2011.
• Eliminate tax breaks linked to the state’s enterprise zone and other
  geographically targeted programs.
• Loan $362.3 million from the Unemployment Compensation Disability Fund
  (State Disability Insurance (SDI) fund) to the General Fund to pay
  interest due on loans from the Federal Unemployment Account (FUA). The
  Employment Development Department (EDD) began borrowing from the FUA
  to pay Unemployment insurance benefits in January 2009 when the
  state’s Unemployment Insurance (UI) fund became insolvent.
• Provide $19.5 million to continue the EDD’s Automated Collection
  Enhancement System (ACES) for auditing the payment of employer payroll
  taxes.
• $84.4 million in federal funds from the Small Business Jobs and Credit
  Act of 2010 for the Small Business Loan Guarantee Program.
• Provides additional funds from the Public Transportation Account to
  local transit agencies to maintain the higher level of funding
  provided by the fuel tax swap enacted by the legislature in March 2010

Download full Executive Summary prepared by the California Budget
Project

Revised draft of Bay Plan Amendments and BCDC’s Strategic Plan: How
will the revised draft of the Bay Plan Amendments (anticipated release
will be in the first quarter 2011) reflect stakeholder input from the
business, development and local communities perspectives?
Related news from BCDC

How will the new CEQA thresholds for toxic air contaminants affect
infill development on the Peninsula?
Read one opinion from Buchalter Nemer

Rod Diridon was not re-appointed to the Board of the California High
Speed Rail Authority. What comes next for the Peninsula and what will
the future of Caltrain look like? Read more:
Related article from Mercury News
Related news from Caltrain

SAMCEDA and The EVRE (Economic Vitality Research and Education) Foundation have formally engaged Beacon Economics to perform a multi-phase Economic Analysis of San Mateo County. The project scope encompasses a comprehensive study of economic indicators, industry-cluster analyses, county demographic trends, historical and forward economic movements, and actionable economic development strategies. The project, which will commence February 1, 2010 with a final report and presentation at the SAMCEDA Annual Meeting June 21st, will be one of the most comprehensive analyses of the San Mateo County economy to date. In addition to providing businesses, municipalities and communities with pertinent economic information, it will serve as the basis for launching follow-on, targeted economic development initiatives on the part of SAMCEDA. SAMCEDA has been active in both county and regional economic development the past year, participating in the Bay Area Economic Recovery Workplan coalition and collaborating with the San Francisco Center for Economic Development in exploring value-add development opportunities in niche segments on the Peninsula. Beacon Economics is a leading economic analysis and research firm with a reputation for in-depth, fact-based economic research. Using proprietary modeling systems and research methods, Beacon works with public and private clients nationwide, from industry leading corporations to policy think-tanks and government agencies.

Comprehensive Study of San Mateo County Economy Shows the Path Ahead

SAN MATEO, Calif. – High-paying jobs in finance, science and health care will dominate San Mateo County’s recovery as job losses in all sectors have leveled off, according to a detailed economic forecast released Monday.

Other signs the San Mateo County economy has bounced back from the recession include an improving real estate market and a revival in consumer spending, according to the forecast by Beacon Economics commissioned by the San Mateo County Economic Development Association (SAMCEDA) and the Economic Vitality Research and Education Foundation.

“So what is in the cards for the County of San Mateo moving forward? The recession is clearly over, and positive indicators are either already appearing in available data or are on the near horizon,” according to the report.
(more…)

SAMCEDA is proud to be partnering with the Bay Area Council to launch a “Landing Pad” business office in Shanghai, China. (Visit samceda.org/china to learn more about the initiative.) The office will serve as a valuable resource for assisting Bay Area companies and SAMCEDA members with successful entry, establishment and business expansion into the burgeoning Chinese market. It will also promote and facilitate increased Chinese expansion and investment in the Bay Area market and region – from companies looking to open satellite offices, R&D facilities, or take part in the high-growth San Mateo County/Silicon Valley tech industries. China’s growing economic strength presents a tremendous opportunity for individual Bay Area companies. Seventy percent (70%) of Bay Area exports already go to Asia. With strong cash reserves, an economy growing at an annual rate of more than eight percent (8%) in spite of the global recession and an enormous number of emerging middle-class consumers, China is a necessary and lucrative market for many global companies looking to grow their top and bottom lines. With an advanced Internet infrastructure facilitating data and collaboration networks; international ports and airports; and a diverse global population, Bay Area businesses are well-situated to expand into and capitalize on opportunities in the Chinese market. SAMCEDA will offer the suite of advantages and services provided by the new landing pad office to all members as an inclusive new offering/service. The office will assist with educating and apprising members of business opportunities; securing and managing relationships; initiating new local market strategies; and will also serve as short-term floating office space for SAMCEDA members in Shanghai.

Senator Simitian and Lowenthal Host High-Speed Rail Town Hall Meeting in Palo Alto, CA. More than 500 people gathered in the Palo Alto City Council Chambers for a discussion of the proposed California High-Speed Rail line along the Peninsula. The turnout represented a mix of supporters, opponents and those looking to gather more information about the project. Many group representatives and individuals spoke to the significant economic and job creation benefits associated with the project. SAMCEDA Acting President & CEO Rosanne Foust spoke on behalf of the Alliance for Sustainable Transit and Jobs (ASTJ) – a SAMCEDA-led coalition in support of the project – recognizing community concerns and at the same time urging both supporters and opponents to allow the project to move forward under the existing regulatory process. The ASTJ, whose intention is to provide factual information relative the project process, has gained both recognition and respect for its role as a balanced advocate in support of High-Speed Rail and Caltrain electrification. Subsequent to the January 21, 2010, Town Hall Meeting, the California Department of Transportation and California High-Speed Rail Authority have been awarded $2.34 billion in federal grant funding available for high-speed and intercity rail under the American Recovery and Reinvestment Act of 2009 (ARRA). The Transbay Joint Powers Authority has been awarded a $400 million grant in addition to a $177 million loan from the U.S. Department of Transportation to begin construction on Phase I of the Transbay Terminal in San Francisco, CA. In March 2010, California High-Speed Rail Authority will release the San Francisco to San Jose segment’s Alternatives Analysis – a defined range of reasonable, practicable and feasible project study alternatives and design options for the segment – which will comprise a short-list of practicable and feasible alignments to be studied in the project EIR/EIS.