Signs of economic recovery in Vallejo...

Signs of economic recovery in Vallejo, Solano County

Posted in the Vallejo Forum

Anonymous

Vallejo, CA

#1 Jan 1, 2013
Signs of economic recovery in Vallejo, Solano County
http://www.timesheraldonline.com/news/ci_2229...

Economic recovery began "moving like a glacier toward Solano County" at the beginning of the year, and the trend has continued.

In January, the Times-Herald reported an economic think tank predicted the recovery to remain anemic through 2013, but to pick up speed in 2014.

The Business Forecasting Center at the University of the Pacific predicted "continued housing market weakness, frail export demand and shrinking government spending," would prevent a robust recovery. And also in January, it was reported that Solano County homeowners had lost about half their properties' value since the housing bubble burst.

But signs of improvement continued cropping up locally in 2012.

By mid-year, for instance, foreclosures here started slowing and home prices began rising, albeit less sharply than in much of the rest of the Bay Area.

By May, the economic think tank was saying Solano County had improved economically and predicted it would continue doing so for the foreseeable future.

Signs of an economic recovery could be seen in the additions to the retail landscape of a Toys R Us Babies R Us store and an Anna's Linens store, though Vallejo's Rasputin music moved to the Solano Mall in December and the Hostess Bakery Outlett closed for good after nearly 30 years.

The owners of the Vallejo Corners shopping center where Rasputin was for 11 years, says a Rainbow Apparel store will move into the space by summer.

Unemployment, meanwhile, fell most months of the year in Solano and Napa counties, reaching 9.3 percent in Solano, by September and holding steady. In Napa, the rate fell to 6.9 percent.

Vallejo and American Canyon continued having their respective county's highest unemployment rate, both slightly above 11 percent by October, the most recent figures available.

Six Flags Discovery Kingdom, one of Vallejo's most consistent economic drivers, saw the debut of its first major thrill coaster in a decade with SUPERMAN Ultimate Flight, which features the tallest inversion west of the Mississippi River. The coaster had some early glitches, but those seem to have been ironed out.

May 2012 marked the 25th anniversary of the Vallejo Convention and Visitors Bureau, which was born out of what was then called Marine World's coming to town.

In a matter that will follow the city into the new year, a jury trial date was set late this year in the ongoing battle between Vallejo and Triad Downtown, Vallejo, LLC, its former downtown developer. The court date is set for Sept. 10, when the city will argue that Triad breached its contract with the city when it failed to deliver the development it promised, and Triad will counter that there's a relief valve in the contact's language letting it off the hook if the economy tanks, as it did several years ago.
the smart women

Vallejo, CA

#2 Jan 1, 2013
as i recall, triad provided a deli platter for marti brown's initial campaign. this kind of development was supposed to be the precursor that would have attracted the university to locate downtown(remember brown's "imagine 8000 students" lte?). now marti and the vibsters are putting the onus on davis for the cost of the legal battle because they failed to deliver.
Jim in SF

Benicia, CA

#3 Jan 1, 2013
The Triad project was poorly thought out from the beginning. They wanted to build live/work units where middle class people shopped, dined and were entertained at a small movie theater. The problem is and will likely always be case that the downtown is LOADED with poor people with zero disposable income. Triad and their supporters like Marti could have asked any of the retailers that have been struggling downtown for decades how business was going. It's a dead zone and they would have learned that if they opened their eyes and ears.

I believe Triad sold a small group of believers that a small, "green", urban, metrosexual enclave could be constructed and people would flock downtown.

The foolishness of this plan is pretty amazing and now Triad expects the few taxpayers left in Vallejo to have sympathy for them? Sorry, you rolled the dice and came up empty so move along now.
fureal

San Jose, CA

#4 Jan 1, 2013
It was a simple typo
What it actually described was a "Ghettosexual" enclave, which of course we already have with 201 Maine (and many other locations)
the smart women

Vallejo, CA

#5 Jan 1, 2013
agree, right in the middle of it is the selfish idealism of stephanie gomes, who stills owns property on sutter street that would benefit from increased real estate values in and around the downtown area. they gave over 4 mil to restore their hempress theatre and had big dreams, as always, while the rest of the city waited, and still waits.
obamas son

Hayward, CA

#6 Jan 1, 2013
liberal plans always fail, because they are based on unicorns and rainbows, but remember "you" will have to pay and pay until "you" wise up !
Yeah

Vacaville, CA

#7 Jan 2, 2013
Osby is going to fix this crap!
Wanglow

Vallejo, CA

#8 Jan 2, 2013
Osby is going to take a crap.
obamas son

Hayward, CA

#9 Jan 2, 2013
Wanglow wrote:
Osby is going to take a crap.
Vallejo is full of osby style crap
hey, lib scumbags, deversity is perversity
hope you enjoy what your choices have done to our once fair city
Actually

Vacaville, CA

#10 Jan 3, 2013
This town has a fear of the middle class.
Gentrification does work , but not in a city whose government and businesses rely on on poor uneducated people.

Vallejo has no class and the smart people should know better than try to dress a pig in a suit.

Too many people afraid of positive change .

Well , dummies. You win. You've fought every attempt to inprove the city . Now you get the city you made .

The only signs that the city is improving will be:

An increase in average level of education
An increase in median house hold income
An increase in average rent
A decrease in rental property
An increase in home prices
Improved schools

All of those will displace the criminal class and decrease crime.

Not in my life time.

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