Valley Cities hardest hit by Recession
The Brookings Institute released a study last week on the economic condition of the 100 largest metropolitan areas in the country. San Joaquin County and its 700,000 residents did not fare well in the study.
We were ranked dead last in price appreciation, 99th in Foreclosures, 98th in employment (just ahead of Fresno and Modesto), and 96th in economic growth. One bright spot was our 14th place rating in wage growth.
In any case, our congressional delegation is attempting to bring attention to the current and historic economic plight of the central valley. The House Financial Services Committee held a hearing on the Valley's dire economic circumstances. Lawmakers considered, though did not vote on proposals including one by Reps. Dennis Cardoza, D-Merced, and Jim Costa, D-Fresno, that would establish the Valley as an "economic disaster" area eligible for special federal aid.
"We are one step closer to seeing the relief we deserve in the Valley," Cardoza declared in announcing the upcoming hearing.
In a slightly different rhetorical vein, Rep. Devin Nunes, R-Visalia, says he will be bringing more congressional attention to the irrigation water shortages that have aggravated the Valley's farm economy. Starting this week, Nunes plans to offer water-related amendments on House spending bills; he conceded the amendments will lose, but he believes they will still serve a purpose.
"We need to draw a clear congressional record of those people who want to cut off water to the Valley," Nunes said, adding his belief that congressional Democratic leaders "want the Valley killed."
While not addressing the Valley's specific water woes, nor the proposals for an "economic disaster" designation, Berube stressed that the region-to-region disparity will complicate the job of "policymakers seeking to ensure a truly national rising economic tide."
We'll let you know if any thing positive emanates from the hearing.
To read the Brookings Institute study, click here.
We were ranked dead last in price appreciation, 99th in Foreclosures, 98th in employment (just ahead of Fresno and Modesto), and 96th in economic growth. One bright spot was our 14th place rating in wage growth.
In any case, our congressional delegation is attempting to bring attention to the current and historic economic plight of the central valley. The House Financial Services Committee held a hearing on the Valley's dire economic circumstances. Lawmakers considered, though did not vote on proposals including one by Reps. Dennis Cardoza, D-Merced, and Jim Costa, D-Fresno, that would establish the Valley as an "economic disaster" area eligible for special federal aid.
"We are one step closer to seeing the relief we deserve in the Valley," Cardoza declared in announcing the upcoming hearing.
In a slightly different rhetorical vein, Rep. Devin Nunes, R-Visalia, says he will be bringing more congressional attention to the irrigation water shortages that have aggravated the Valley's farm economy. Starting this week, Nunes plans to offer water-related amendments on House spending bills; he conceded the amendments will lose, but he believes they will still serve a purpose.
"We need to draw a clear congressional record of those people who want to cut off water to the Valley," Nunes said, adding his belief that congressional Democratic leaders "want the Valley killed."
While not addressing the Valley's specific water woes, nor the proposals for an "economic disaster" designation, Berube stressed that the region-to-region disparity will complicate the job of "policymakers seeking to ensure a truly national rising economic tide."
We'll let you know if any thing positive emanates from the hearing.
To read the Brookings Institute study, click here.
Labels: Economy
posted by City Manager @ 3:24 AM
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