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Biz News – Around Tulare County

Visalia Council May Seek Additional Revenue

Increasing internet sales are reducing the City’s sales tax revenues. At the same time changing demographics mean a smaller percentage of individuals’ income is subject to sales tax.

As a result of these trends, it is likely that the City’s ability to fund needed projects and current service levels will not be sustained over the long term says a new city report. “The most obvious area of concern is the City’s most recent sales tax measure, Measure T, which is not meeting what was considered at its inception to be modest sales tax projections of 3% growth per year.”

A Blue Ribbon Citizens group to be formed will make a recommendation to council on whether to move forward on this or not.Depending on how it is structured it could need only a a 50% approval to pass or require two thirds voter approval.

Screen shot 2012-05-11 at 8.49.02 AMFarm Jobs Head Lower – Non Farm Stays Strong

The unemployment rate in the Tulare County was 13.2 percent in March 2015, down from a revised 13.4 percent in February 2015, and below the year-ago estimate of 15.9 percent.

A closer look shows March farm jobs saw the first real sign of the impact of the drought with ag-related employment down 1400 – down 4.6%f from a year ago. Meanwhile nonfarm jobs increased 2990 – up 2.6%. Construction related jobs rose 11.6%.

March Home Sales Rose

Tulare County existing home sales rose 20% in March – month over month-  and were up 7% from a year ago.The median price of a home sold in March was $182,630 – up from $160,830 a year ago.

March New Home Construction Strong In Visalia

Visalia permitted 53 new homes in March 2105 compared to 26 in March 2014. For the year to date – new home permits are up 52%.

New Shoe Seller On Mooney

Developer Dave Paynter has signed a lease  with Designer Shoe Warehouse at his shopping center on south Mooney anchored by Dicks Sporting Goods.They will take10,330 sf in the center. DSW operates 431 stores in 42 states, the District of Columbia and Puerto Rico, as well as 370 leased departments for other retailers in the United States under the Affiliated Business Group.The shoe retailer will open this year.

Pacific STIHL  Expanding Again.

Pacific STIHL has purchased a140,000 sf ft building on Ferguson in the Visalia Industrial Park. So says plant manager Larry Blamer. The power tool distributor is in a leased 53,000sf building now.They hope  to move in July after construction is complete.The new facility, nearly triples the square footage available to Pacific STIHL to approximately 140,000 sq. ft. on eight acres, more than doubles its dock doors from eight to 18, and enables it to continue same day fulfillment of dealer orders.

Derrels Mini Storage Seeks South Visalia Location

Derrels Mini Storage is on the grow again hoping to get County approval t o build a 19 acre min storage on Ave 280,Caldwell and South Roeben- just outside the city limits. Phase one would be 130,000sf,and Phase two 149,000.Phase Three would cover 96,600sf.

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