Tag Archives: California

California Enjoys Budget Surplus for New Year

Business news, Economy, , , , ,

The Covid-19 pandemic may have wreaked havoc with many parts of the state’s economy, but California managed to finish 2020 with a $15 billion surplus.

California, which relies heavily on income tax collections from wealthy residents, had a strong fiscal year due to high returns from a strong stock market,.

“The state is in much better financial condition to avoid the very large cuts that they’ve had to do in the past that cut significant services right when California residents needed it the most,” Dora Lee, the director of research at Belle Haven Investments, told Bloomberg News.

“The California budget is in some ways a situation where some other states might be envious and would like to be in,” Lee added.

Gov. Gavin Newsom said he would use the budget surplus to bolster the state’s public education system, spur a broad economy recover and pay down almost $10 billion in state debt.

Fashion Forward Sacramento

Business news, Community, Culture, Economy, Environment, Restaurants, , , ,

New York’s Fashion Week is winding down and Sacramento’s style scene is upping its game. The city is filled with clothing spots offering unique fashion finds. Here is a list of just a few local businesses worth checking out.

Sacramento’s trendy fashion businesses have a lot to offer

1st Go 2nd (hand)

The Article Consignment Boutique in East Sacramento is a vintage and consignment store that is a must for any shopping fan. Buying second-hand is not only fun, but it reduces the environmental impact of clothing, saves a lot of money, and creates a style that is unique and authentic.

Know Your Heart

Heart Clothing Boutique is a favored women’s clothing spot, offering a practical and whimsical wardrobe for any occasion. Comfort and style come together seamlessly in this cozy store where the staff is eager to help customers find just the right look.

Go Krazy

Krazy Mary’s, also in East Sacramento, offers up-scale fashion that is forward-thinking and user-friendly. It’s sister store, Sugar Shack Boutique, networks with local artists and designers to curate an affordably unique collection of clothing.

Find an Outlet

Folsom Premium Outlets has more than 80 different outlet stores. With something for everyone, this is the perfect place to go for shoppers only looking to park once. There are also a few cafes and shake shops on the campus perfect for an energy boost during shopping sprees.

The Weird and the Wacky of Sacramento

Community, Culture, Entertainment, Restaurants, ,

Over 7,000 new residents moved to Sacramento last year alone, making it the fastest growing Californian city. These newcomers are likely enjoying cheaper rents and warmer temperatures alongside all the funky, good old-fashioned weird stuff Sacramento has to offer.

As the city’s director of tourism, Nick Leonti, says “Sacramento is about 80% weird stuff.” So whether you are on your way in or out of Sacramento, you should definitely check these out:

Home of the Martini– just a few miles out of Sacramento, you’ll hit Martinez, the birthplace of the classic cocktail, the Martini. Cheers.

Jelly Belly Factory– located at 1 Jelly Belly Lane, this place is wall-to-wall jellybeans of the most delicious kind. Once you have donned your paper hat, you can walk along the factory floors to watch the magic happen and hear the fascinating history of the Jelly Belly craze.

Jelly Belly jelly beans

Osaka-Ya has been making manju and mochi since 1963; they are one of the three remaining manju shops in Northern California. But it is also a snowcone heaven. The storefront is a tiny shop tucked away near the freeway on 10th Street. From a small window next to the shop’s entrance, they sell snow cones that run from “extra small” (about as big as your face) to “extra large” (major brainfreeze potential).

Leonti explains that the city’s “history” of weird, stems from the gold rush, when scrappy adventurers from all over the world arrived in droves. Today, that quirk remains alive and well.

Sacramento Job Growth Outpacing State

Employment, , ,

Jerry Brown's official picture as Attorney General and as Governor
Jerry Brown’s official picture as Attorney General and as Governor

Data shows that the Sacramento region is showing great strides towards recovery, with a gain of almost 23,000 jobs in December compared to the previous year. That number represents a 2.5 percent increase in jobs. California as a whole gained 265,000 jobs during the same period, an increase of only 1.5 percent.

The unemployment rate in the Sacramento region has also been in decline. It fell from 6.3 percent in December 2014 to 5.5 percent this past December. The unemployment rate for California shrank from 6.8 percent to 5.8 percent during the past year.

California and the Sacramento area are far from immune to job declines, especially with global markets recent volatility. The worry about another increase in the unemployment rate was alluded to by California Governor Jerry Brown while speaking to legislators, warning them to be cautious when considering spending surplus state revenue during his State of the State speech last Thursday.

The government sector shrunk by 3300 jobs during December in the Sacramento region, and the construction sector lost 400 jobs. Retail trade increased by 800 jobs, while the leisure and hospitality industry added 1600 jobs.