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Madera County E-BIZ
Welcome to Madera County Economic Development’s E-BIZ! On a monthly basis, our online Newsletter covers important local, regional and national news that impacts our local economy. E-BIZ reports on new projects and events in our cities and towns and keeps readers up to date on the state of the region’s economy. News about your business is always welcome. Please send items, questions, comments, or suggestions to the Madera County EDC at info@maderacountyedc.com or visit our Web site at maderacountyedc.com
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SAVE THE DATE
Attention Manufacturer's- GMCIA Meeting
May 14, 2008 at 7:00 A.M. 
Madera Manufacturer’s, please attend the upcoming Greater Madera County Industrial Association (GMCIA) meeting on May 14, 2008 at 7:00 A.M., at OldCastle Precast Concrete - 801 South Pine street, for a Plant Tour.
For more information, contact Shirley Driggs at 559-673-8496.
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Madera General Plan Update
Topic: Housing
May 29, 2008
(time and place has not been released)
Over the next two years, the City of Madera will be holding a series of public meetings to help update the city’s general plan. The process of adopting or amending the general plan requires public participation. The next general plan meeting will be addressing the topic of Housing on May 29th.
For more information please visit www.maderageneralplan.com or email info@maderageneralplan.com
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Madera County Unemployment Rate
The unemployment rate in Madera County was 10.6 percent in March 2008, up from a revised 9.6 percent in February 2008, and above the year-ago estimate of 8.5 percent. This compares with an unadjusted unemployment rate of 6.4 percent for California and 5.2 percent for the nation during the same period. For more detailed information Click here
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LOCAL NEWS
 Madera New deal clears the way for Madera County Casino
Central Valley Business Times
A deal has been signed between the state and two Indian tribes that clears the way for a large gambling casino complex for Madera County in the Central Valley while scuttling plans for a casino in Northern California. Read more
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Chowchilla plans to buy Mammoth Orange stand and restore it
Mercurynews.com
The city of Chowchilla plans to buy the 10-foot-high citrus replica, move it and open it up for business in a restoration district of downtown. Chowchilla’s Redevelopment Agency is offering to cover the moving cost of moving and refurbishing the orange sphere and expects to reach a deal with its owners soon. Read more |
STATE NEWS
East Bay, Sacramento to cut freeway truck trips with deeper shipping channel
East Bay Business Times
The first step in reducing the number of freeway truck trips between the East Bay and the state capital by a least 23,000 a year has come with allocation of $10 million to deepen the Sacramento Ship Channel. About 30 percent of all deep-draft ship carrying cargo can now make it to Sacramento’s port, a 70 percent increase is expected once the channel is deepened to 35 feet. Read more
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Home building pace plunges 65 percent
Central Valley Business Times
According to housing permit data supplied by the Construction Industry research Board, total housing stats in California, as measured by building permits issued, dropped to 4,713 units. Production of single-family homes fell 63 percent while construction of multifamily units decreased 68 percent when compared to March of 2007. Read more
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Foreclosures up 57 percent in March from 2007
Central Valley Business Times
• Pace increases by 5 percent from February
• “More defaulting homeowners are simply walking away”
One in every 204 California households received a foreclosure filing in March—2.6 times the national average placing the state second overall. The worst? Nevada. One in every 139 Nevada households received a foreclosure filing during March, 3.9 times the national average and the highest state foreclosure rate for the 15th consecutive month. Read more
* For information on how to prevent a foreclosure take a look at the advice and resources the U.S. Department of Housing and Urban Development has provided. Please click here
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NATIONAL NEWS
Job losses will bring rate cut.
Kiplinger Business Resource Center
The loss of 80,000 jobs in March signals another interest rate cut in the near future by the Federal Reserve. The third straight monthly drop in jobs plus an unemployment rate now at its highest level in two and a half years provide more evidence that the economy is likely in recession, putting more pressure on the Fed to act. Read more |
INDUSTRY NEWS
Gottschalks sales plummet, retailers struggle
Sacramento Business Journal
Department-store chain Gottschalks Inc. reported same-store sales plummeted 15.4 percent in March compared to a year ago, as the retailer, like many other, battles a difficult economy, largely because of the hard-hit housing market and higher gas prices. The Fresno-based chain, reported overall sales dropped 16.6 percent to $49.1 million last month, from $58.9 million in March 2007. Read more
*Gottschalks operates a distribution center in Madera County providing approximately 200 jobs
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Pacific Ethanol gets $40 Million infusion
Central Valley Business Times
• Lyles United buys into company
• “Immediately strengthens our balance sheet”
Pacific Ethanol Inc. of Sacramento says Lyles United LLC has completed its purchase of $40 million worth of the Central Valley company’s stock. The original sale was announced March 18. “The investment shows confidence in our strategy, immediately strengthens our balance sheet, and keeps us on track to achieve our annual operating capacity goal of 220 million gallons in 2008,” says Niel Koehler, president and CEO. Read more
*Pacific Ethanol operates a plant in Madera County. |
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Save The Date |
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Contact
Madera County
EDC
2425 W.
Cleveland Ave., Suite 101
Madera, CA
93637
559-675-7768
www.maderacountyedc.com
Past
Newsletters
Please
click the below links to see a .pdf of our past
newsletters:
Spring
2007
Click Here
Winter
2007
Click Here
Newsletter
Ideas
If you have a story that you think
might be of interest, please contact:
jherd@maderacountyedc.com
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