Category Archives: Business news

Sacramento Resale Prices Reach Post-Crash High

Business news,

Prices of homes in Sacramento County have been on the rise, and have recently hit the highest mark since before the crash in 2007.

According to CoreLogic, the average resale price of a family home in the area was $340,500 in July. In August 2005, when housing prices were at their peak, the average price was $374,000, whereas prices in October 2011 dropped as low as $155,000.

The latest increase in prices, which is 10% higher than last summer’s, has been driven by a small market and high demand.

“New home sales were on the rise in Sacramento County, with a 29 percent increase since July 2016,”  CoreLogic reported. “That’s partly the result of a resumption of construction in North Natomas, after federal authorities lifted a de facto building moratorium they’d imposed because of flood risks.”

Some experts believe the new developments in the resale market will make new homes a more viable option for buyers. As a result, housing construction may pick up; a critical improvement to the Sacramento economy.

Sneak Peek into Amazon’s New Sacramento Facility

Business news, ,

Amazon has offered a sneak peek into its new Sacramento fulfillment center this week. According to County Supervisor Phil Serna, the construction is moving forward at a quick pace.

“I think it bodes well for the future of the business park and for other property owners here to see that this is not just going to be a very successful operation employing a lot of people, but that Sacramento County is very committed to making sure that the permits necessary to do something like this can be streamlined,” he said.

$15m Plan to Revive Old Sacramento’s Business Scene

Business news, Community, , ,

Old Sacramento may be getting a $15 million revamp thanks to riverfront project manager Richard Rich’s plans to boost tourism and local business in the area. In an effort to make a new name for the historic district, Rich proposed a wide range of improvements at a recent City Council meeting, with everything from a new Ferris Wheel or other landmark to upping local artistry and encouraging a new startup scene amongst the upper floors of old buildings.

 

Rich’s vision extends beyond just flashy cosmetic improvements. He stated that he hopes to draw attention to Old Sacramento’s entertainment scene as well as its historical position by restructuring the pedestrian experience, mainly by fixing up the K Street pedestrian tunnel under Interstate 5 and turning it into a dramatic, interactive light show. He also hopes to draw visitors of the California State Railroad Museum into the district by enhancing access to the River, adding barges and building a themed waterpark to entertain both locals and tourists.

 

Downtown Sacramento Partnership executive director Michael Ault believes Rich’s plans “would be a great addition to Old Sacramento and would enhance the entire city.” It will also boost local businesses and attract new companies to the area, doing wonders for the city.

Sacramento to Become Hub for Alternative Meat Industry

Business news, ,

The future of the animal-free animal products industry is booming.  And Sacramento seems to be becoming the address for a lot of its investments.  According to a recent article in Business Insider, “seventy-one investors worth a combined $1.9 trillion are working together to put pressure on the world’s largest food companies to “future proof” their supply chains by bringing more meat alternatives to market.”

Two biochemists recently came to San Francisco and opened up their research lab for their firm Finless Foods on a bench in a basement in SoMa, conveniently just beneath their San Francisco biotech accelerator investor – IndieBio. Finless Foods is attempting to create a simulacrum of bluefin tuna fillet to help relieve the pressure on the prized – but severely overfished – species.

What companies like Finless Foods are trying to do is respond to the decrease in demand for the future of animal produce and to hack yeast cells to produce egg whites; torque plant proteins into muscle-like fibers and grow slaughter-free “duck” or “chicken” in factories. Should this be the future, it will likely be Sacramento that will become one of the global addresses for hub (along with the rest of the Bay area). The entire factory farming industry is undergoing an evolution and investments are being put into animal agriculture.

Women Leading Tech Region

Business news, ,

It seems that it would not be a bad idea – financially, logistically, ecologically – for women to lead the tech revolution in Sacramento. Here are some of the reasons why.

A new accelerator for women entrepreneurs in Sacramento – FourthWave – (which was originally launched in LA in 2014 with the intention of being developed in other states) – is helping this actualize.  Pointing to Kauffman Foundation research which found that  “women-led private technology companies are more capital-efficient, achieve 35 percent higher return on investment, and, when venture-backed, bring in 12 percent higher revenue than male-owned tech companies,” Fourth Wave executives are now trying to get the women the support they need.  Most significantly what they are lacking is early capital to get started, which traditionally is discriminately given to men over women.

It was most fitting that Sacramento was the first city to adopt FourthWave.  The city has many women leaders in the tech and design community (including Cheryl Beninga, Tracy Saville and Melanie Weir) and it is becoming quite the tech hub.  This is also due to the commitment to finances and mentoring with a city grant having been given to FourthWave Sacramento.

In addition, Sacramento is working on its ecosystem which is becoming evident through female leadership.  Female entrepreneurs are working in healthtech, edtech and more and it’s working out for them being in Sacramento.

Let’s not forget also that Sacramento is actually the nation’s largest economy and thus might be able to impact other cities that are seeking to rebrand themselves within different partnerships and with women in power.

With all this in mind, Sacramento could become the next best place for women in top tech executive positions.

Smart Refrigerators

Business news, , ,

With the launch of Sacramento-based Byte Foods a year-and-a-half ago, some of the city’s businesses will soon be privy to “smart refrigerators,” which are basically vending machines that will offer healthy food options, turning the vending machine market on its head (having been known historically for junk food sales).

The machine is also much simpler to use than the old method of having the right money and/or hoping for the best.  With Byte Foods, customers just need to Swipe (their credit card), Grab (the food item) and Go (eat it!).

The focus for the food is healthy, wholesome, nutritious and fresh.  Purchase a Sprogs gluten free Bacon and Egg Power Lunch, a Carrot and Ginger Soup, Avocado Power Lunch sandwich, Organic Breakfast Bistro, BBQ Chopped Salad with Tofu and ranch dressing and so much more.

The company’s motto is: Always Fresh, Always Open. When the office cafeteria is closed Byte Foods will be open…even at 2 am!

In addition to the convenience of wholesome, fresh food on the go, Byte Foods makes it easy for companies to work with it.  As co-founder Lee Mokri said, employers can “offer fresh meals to their employees, (meals) that employees pay for directly from the fridge. And it’s easy to use … There’s no ordering in advance, no theft, no honor system and it’s just like your typical retail experience because you purchase directly from the kiosk.”

It’s clearly working.  Delivering around 50 new fridges to offices each month, it is now time for the Sacramento launch. Hotels, medical institutions and educational establishments are also jumping on board.

Business Booming in El Dorado Hills

Business news, , , , ,

With additional tenants moving into El Dorado Hills, the Town Center continues to enjoy growth, boosting the economy.  A staggering 19 businesses signed leases for over 32,000 square feet and will be (or are already) opening soon.  According to co-general partner of the Mansour/Nagle Partnership Tony Mansour, last year was really great for the area.  This sentiment was echoed by his partner, Kevin Nagle who explained that their “strategy that [they] began executing two years ago is yielding excellent results. The new tenants, offering a wide range of services, are loving the traffic and that attracts other great businesses.”

Some of the new businesses that have opened include: Blow Me Away, Coastline Travel Advisors, EDH Insurance Solutions, fitRide, Folsom Lake Eye Care, Tea Xotics and The Game Room Adventure Café. In the near future, these will be joined by C. Knight’s Steak House, Keller Williams, Paramount Equity Mortgage and Pure Barre.

Perhaps Norman Roos was correct in his article in Nico Rivolta promoting the benefits of starting a business in Sacramento when he said:

“Without question, Sacramento offers many features that appeal to the start-up community – attracting innovators and investors from all over. Real estate prices, both residential and commercial, are a big part of that appeal. In San Francisco the he median list price per square foot is $847, as opposed to the $164 required in Sacramento. This greater affordibility creates two benefits to startups: on one hand, it allows entrepreneurs to quickly and efficiently move into viable work spaces from which to launch their products and ideas, and secondly, it makes it easier for those same entrepreneurs to actually live in the community in which they work; something that has become near impossible for startups in the San Francisco area.”

Either way Sacramento seems to have quite a lot to offer for business owners in the region.

Why Small Businesses are Setting up in Sacramento

Business news

It appears that more businesses are coming to Sacramento.

Sacramento Metro Chamber in partnership with Sac State School of Business are working together at the Small Business Development Center. The center serves 8 counties, 8 regional hubs including Sacramento.
The Metro Chamber took on this endeavor because it fits with their mission to “support businesses and help them grow within our region.” After two years of operation, much has been achieved between December 2014 and 2016 including:
1. 73 new businesses that were created within the region
2. 320 new jobs that are employing people in the area and retaining 186 jobs through those businesses
3. 119 loans that infused over $21 m capital into our small business community.