Economy

Amy Quinton / Capital Public Radio

2014 was a year of ups and downs for the valley's largest industry, agriculture. The year began with virtually no rain and snow and fears of another dust bowl.

And while farmers and ranchers had a tough year, most survived and some even thrived. Rising milk prices boosted the bottom line for California dairymen and women and crops like tomatoes actually set new records.

So what will 2015 bring? We asked two industry experts to join us and offer their perspectives on six issues that will help define the valley's largest industry in the new year:

Joe Moore / Valley Public Radio

The recent drop in oil prices may be a good thing for consumers at the gas pump, but has oil producers in Kern County worried. For a look ahead at what this means for the economy of the south valley in the new year, we talked to John Cox, energy industry reporter for the Bakersfield Californian on FM89's Valley Edition. 

2014 Was A Rough Year for California's Farmers and Ranchers

Dec 17, 2014
Ezra David Romero / Valley Public Radio

California's farmers and ranchers have endured a challenging 2014. Capital Public Radio's Lesley McClurg reports on how they're weathering the drought.

Paula Getzelman says recent rain brings a deep sigh of relief. She and her husband run Tre Gatti Vineyards in Monterey County. 

Getzelman: "We were extremely nervous in 2014. The harvest was a real nail biter."

Production at Tre Gatti was down twenty percent. Getzelman says she feels luckier than some of her neighbors who were down thirty percent. 

Fits and Starts: Central Valley Economy Beginning To Bounce Back

Oct 13, 2014
Julia Mitric / Capital Public Radio

As brutal as the Central Valley economy has fared over the last several years, it’s starting to bounce back. Our series “Fits and Starts” on California’s uneven economic recovery continues with a look at the Central Valley.  

The collapse of the housing market devastated cities like Stockton and Modesto. But the Central Valley’s agriculture industry weathered The Great Recession just fine. It even saw record growth, with one painful exception: dairy.

“It was a bloodbath,” says Tom Barcellos, who owns T-Bar Dairy in Porterville.

Fits and Starts: Bay Area Housing Boom Prices Out Some People

Oct 13, 2014
Capital Public Radio / KPCC

Editor's Note: Five years after the Great Recession officially ended, the California economy looks like a patchwork quilt. All this week, we feature a series from our partners at Capital Public Radio and KPCC on how the strength of California’s economic recovery varies depending on where you live. Capital Public Radio’s Ben Adler kicks the series “Fits and Starts” with a look at the Bay Area, where the tech boom has driven the unemployment rate down – and housing prices up.
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  The recession hit Damon Grow swiftly and very hard.

California Economist: No Surprise Tesla Chose Nevada

Sep 4, 2014
Tesla Motors

In a big blow to California, Nevada Governor Brian Sandoval says Tesla Motor Company will build a car battery plant in the Silver State.  Sandoval says it will be the world’s biggest and most advanced of its kind. 

California was one of five states vying for the plant that is estimated to build enough batteries to power a half-million vehicles by the year 2020.

Stephen Levy  with the Center for Continuing Study of the California Economy says he wasn’t surprised the electric car company chose Nevada over the Golden State.

YouTube/ Kashkari for Governor

Update: 8/5/2014
Neel Kashkari spoke with Valley Public Radio's Joe Moore for the program Valley Edition about his Fresno video and his thoughts on poverty in the San Joaquin Valley. 

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Original post:

Neel Kashkari has taken his campaign to become California's next governor to the streets of downtown Fresno in a viral video attacking Governor Jerry Brown's message of a "California comeback."

Joe Moore / Valley Public Radio

A report released today shows that Fresno's agricultural industry has slipped out of its first-place standing in the state.  The 2013 Fresno County crop report shows that its total gross value of agricultural products last year was $6.4 billion, over $1.3 billion behind Tulare County--the first time since 2002 that Tulare swung to the top of the list.

Drought Could Cost California Economy $2.2 Billion In 2014, Says Study

Jul 15, 2014
John Chacon / California Department of Water Resources

The California economy could lose $2.2 billion this year because of the drought. Max Pringle reports on a UC Davis study that shows the agriculture industry alone could lose $1.5 billion.

The study says California will have to make do with a third less water this year and that could lead to 430 thousand acres of fallow farmland. Former UC Davis Economist Richard Howitt says the pain won’t be spread evenly throughout the state.

Downtown Fresno is just 163 miles from Mountain View, the heart of Silicon Valley and the home of tech giant Google, but in many ways it's a world away. But while the San Joaquin Valley may be known more for its produce than its programmers a local competition has been working for the past five years to change that.

Report: Drought Won't Hurt California Economy

May 20, 2014
Joe Moore / Valley Public Radio

California’s drought may have a lot of negative consequences, but a new report out today says the state’s economy won’t be one of them. Katie Orr reports from Sacramento.

The report from Moody’s Investors Service finds, short term, California’s economy won’t suffer as a result of the drought. It finds the state’s reliance on income taxes and sales taxes will largely provide a buffer. H.D. Palmer with the governor’s Department of Finance, agrees the state’s economy has weathered the drought so far. 

Courtesy Creative Fresno

Back in the mid 1980’s writer and urban planner Charles Landry was the first to describe how creativity and specifically those involved in creative professions could transform a city – something he called the Creative Cities movement.

After Years of Deficits, Budget Surpluses Projected for California

Nov 20, 2013
Ben Adler / Capital Public Radio

  California’s structural deficit is history – and the legislature’s non-partisan budget analyst is projecting growing surpluses for the next several years.  But as Ben Adler reports from Sacramento, the welcome budget news still comes with words of caution.

Bill to Increase California's Minimum Wage Passes Legislature

Sep 13, 2013
Valley Public Radio

  A bill that would gradually increase the California minimum wage to $10-an-hour has passed the State legislature and is on its way to the governor. It would be the first increase in the minimum wage in six years.

Democratic Senator Bill Monning says if you’re a Californian subsisting on the current state minimum wage, you’re living a second class existence.

"You are in a second hand economy, second harvest food bank, second-hand clothing, second-hand hand-me-down everything," says Monning.

Minimum Wage Deal at California Capitol

Sep 11, 2013
Valley Public Radio

It looks like California’s minimum wage will go up next year for the first time since 2008.  Ben Adler reports from Sacramento on the deal announced today by Governor Jerry Brown and Democratic legislative leaders.

Under the deal, California’s $8-an-hour minimum wage would rise to $9 in July of next year, and then to $10 in January of 2016.  That’s a faster pace than the original bill that’s been moving through the legislature this year.  But it does not include automatic adjustments for inflation, as was previously proposed.

California Adds 38,000 Jobs in July

Aug 16, 2013
Andrew Nixon / Capital Public Radio

The latest California employment numbers are out, and on the surface, July’s 38,000 job gain looks great.  But as Ben Adler reports from Sacramento, a troubling trend in today’s report calls that gain into question.

The 38,000 job increase is the state’s largest monthly gain this year.  It’s also nearly a quarter of the nation’s total job growth in July.  But citing a flawed seasonal adjustment in teacher jobs, the state is revising June’s 30,000 job gain down to 12,500, and May’s 17,000 increase down to 9,500.

The Economist

Three years ago, The Economist published an article that chronicled the toll the great recession had taken on the people and the economy of the San Joaquin Valley, calling the region the Appalachia of the West.

State to Lose Federal Jobless Benefits Next Month

Jul 17, 2013
Valley Public Radio

California’s Employment Development Department says that come mid-August, an improving economy is expected to cost thousands of jobless workers the last 10 weeks of their federal unemployment benefits. Max Pringle reports from Sacramento.

California’s economic rebound means the federal government may soon cut-off assistance to the state’s long-term unemployed.

“We’re now nearing that point where we will no longer qualify for Tier 4 federal extension benefits," says  Loree Levy with the state’s Employment Development Department.

California Economy Inches Up in World Ranking

Jul 11, 2013

There’s new evidence that California’s economic outlook is improving. A new study shows the state is regaining its place as the world’s eighth-largest economy this year after falling to ninth during the recent downturn. 

Valley Public Radio

A new report that compares state finances finds California's budget revenues are soaring higher than all but one other state in the nation.  Its economy is growing at an above-average pace as well.  Ben Adler has more from Sacramento.

The study comes from the Tax Policy Center – a project of the Urban Institute and the Brookings Institution.  It compares state tax revenues, economic growth and other data for all 50 states.

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