My dad and mom grew up in Bakersfield. Actually, my grandmother ran a magnificence store on South Hayes Road for a few years. I nonetheless have a lot of household right here and I really feel a deep connection to your metropolis. That’s why I’m so excited to have a weeklong go to whereas attending the Bakersfield version of the California Financial Summit, hosted by California Ahead. Whereas I’m right here, I’ll meet as many native small-business homeowners as I can and get a really feel for a way Foremost Road is faring in my household’s hometown.
I’m right here to symbolize the California Workplace of the Small Enterprise Advocate, which helps financial development and innovation by offering our state’s small companies and entrepreneurs with the data, instruments and assets they should begin, handle and develop profitable and resilient companies. I’ll be attending a number of occasions, together with a panel on power, local weather, neighborhood resilience and financial mobility organized by the Kern Group Faculty District. On the summit on Thursday, I’ll be asserting a brand new effort from my workplace, the 2022 Entrepreneurship & Financial Mobility Process Drive.
My workplace’s message to each small-business proprietor I meet this week: Your financial restoration is California’s financial restoration.
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With 4.2 million small companies, California has the biggest small-business sector within the nation. They rent almost half our state’s workforce. Serving to these companies to start out, scale and thrive is the rationale CalOSBA was created.
Aside from Hawaii and the territories, our state has probably the most various small-business sector within the nation; almost 45 p.c of our small companies are owned by Hispanics or racial minorities.
However that is additionally the place the story will get extra difficult: Solely 13 p.c of those 1.9 million Hispanic- or minority-owned companies have achieved the objective of hiring workers.
That is why, when Gov. Gavin Newsom describes his imaginative and prescient of a “California for All,” I take into consideration what CalOSBA can do to assist these companies develop and create extra jobs that help area people.
On the California Ahead summit, I’ll be diving into contemporary concepts with native practitioners and neighborhood leaders on the way to implement three massive targets that the Entrepreneurship and Financial Mobility Process Drive can be specializing in:
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Democratizing entry to capital. One of many the reason why so many women- and minority-owned companies can’t scale giant sufficient to rent workers is as a result of they don’t have equitable entry to capital. We should give you profitable methods to “loosen the credit score field.” California’s technical help community of greater than 100 small-business facilities — together with the Cal State Bakersfield Small Enterprise Improvement Heart and Kern Girls’s Enterprise Heart — are there to assist companies from underserved enterprise communities get loan-ready. However we want extra artistic methods to make enterprise financing equitable.
Diversifying the innovation economic system. California’s domination of the high-tech startup house remains to be plain, however largely concentrated within the San Francisco Bay Space and Los Angeles. My workplace’s Speed up California program is funding a community of Inclusive Innovation Hubs to diversify innovation, throughout ZIP codes and backgrounds, and when it comes to trade and expertise sectors. That’s why the KCCD panel this week will delve into clear economic system alternatives for Kern County.
Driving financial mobility by way of entrepreneurship. That is what it’s all about for me — ensuring that small-business possession can create generational wealth for households that pursue it and, in flip, cut back the racial wealth hole. We want a better proportion of small companies that may rent workers, enable the homeowners to purchase a house, ship their youngsters to school and go away a strong succession plan once they’re able to retire.
That’s the dream behind each storefront, both on Foremost Road or on-line. I’m excited to listen to in regards to the massive, progressive goals being cooked up in Kern County and to study out of your neighborhood this week about the way to assist them come true.
Tara Lynn Grey was appointed by Gov. Gavin Newsom as director of the California Workplace of the Small Enterprise Advocate in March 2021. She serves because the voice for California’s small companies within the Governor’s Workplace of Enterprise and Financial Improvement. She beforehand led the Fresno Metro Black Chamber of Commerce and Black Chamber Basis.
Lights back on after power outage in parts of Southern California – CBS Los Angeles
Several cities in Southern California experience power outages on Christmas Eve night. Crews worked around the clock to restore power to residents just in time for the holiday morning.
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California’s high-speed rail project, which aims to connect San Francisco and Los Angeles with a 494-mile route capable of speeds up to 220 mph, aims to continue construction in 2025.
Phase 1 of the project focuses on linking San Francisco in the north to Anaheim via Los Angeles in the south, with plans to extend the line north to Sacramento and south to San Diego in Phase 2.
The California High-Speed Rail Authority, which is overseeing the project says it has already generated significant economic benefits, including creating over 14,000 construction jobs and involving 875 small businesses.
But despite its transformative goals, the project remains politically contentious, with critics questioning its costs and viability. It has been in development since voters approved funding in 2008 and has faced delays, cost increases, and shifting timelines.
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Work Planned for 2025
In a statement to Newsweek, the California High-Speed Rail Authority outlined its planned work for 2025, which focuses on continuing construction in the Central Valley between Merced and Bakersfield.
The 171-mile segment between Merced and Bakersfield will be the first part of the line to be operational, with services expected to start between 2030 and 2033. Of that section, 119 miles are currently under construction.
Of the planned structures in the Central Valley section, 85 are underway or completed out a total of 93 on the segment. Work will continue on these structures as well as on the tracks capable of handling high-speed trains.
By the end of 2025, civil construction on the 119-mile segment currently underway is expected to be completed and construction will begin on the next stretches to Merced and Bakersfield.
In 2025, the authority also plans to advance design and begin construction on its stations in the Central Valley. It also expects to select a manufacturer for the trains.
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Although the initial operating segment will only run 171 miles from Merced to Bakersfield, environmental clearances have been obtained for 463 miles of the 494-mile Phase 1 route, completing the stretch between San Francisco and Los Angeles. Only the Los Angeles-to-Anaheim section is still awaiting approval.
The Authority said it plans to publish its draft environmental impact report for the Los Angeles-to-Anaheim section in 2025, a key milestone for the eventual full-approval of Phase 1.
More than $11 billion has been invested to date, with funding sources including state bonds, federal grants, and proceeds from California’s carbon emission trading auctions.
The authority has not yet received funding to construct the segments westwards from the Central Valley to the Bay Area or southwards to Los Angeles.
Despite this, the authority said it was committed to pushing on.
“California is the first in the nation to build a true high-speed rail system with speeds capable of reaching 220 mph,” the Authority told Newsweek. “The Authority remains committed and aggressive in moving this historic project forward while actively pursuing additional funding.”
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Political Opposition to the Project
Despite ongoing progress, the high-speed rail project continues to face political opposition, particularly from Republican leaders.
While President Joe Biden’s administration has invested billions in it since 2021, the incoming Republican administration, which will control the House of Representatives, the Senate, and the presidency, is unlikely to continue funding it at the same level.
Representative Sam Graves of Missouri, who chairs the House Transportation and Infrastructure Committee, has criticized the project’s costs and funding strategies.
In a statement to Newsweek, Graves described the rail line as a “highly troubled project” and raised concerns about its reliance on government subsidies.
He pointed out that the current funding supports only a limited segment between Merced and Bakersfield, which he estimated will cost $35 billion.
“Full cost estimates [for Phase 1, between San Francisco and Anaheim] now exceed $100 billion and growing,” Graves said, calling for a comprehensive review of the project before any additional funding is allocated.
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“California high-speed rail must have a plan and prove that it can wisely and responsibly spend government money—something it’s failed to do so far.”
The congressman stated that over the next four years, he would oppose any further federal funding for the California high-speed rail project.
Instead, Graves advocated for efforts to redirect unspent funds and focus on improving existing transportation infrastructure, such as Amtrak.
Graves also emphasized the need for private-sector involvement in future rail projects, citing Brightline’s operations in Florida and Las Vegas as a successful example of private investment.
While Graves acknowledged the potential of high-speed rail, he argued that the California project has failed to meet the necessary criteria for viability and local demand.
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The authority told Newsweek it would engage with the federal government to seek other funding sources.
“We continue to explore strategies aimed at stabilizing funding, potentially allowing the program to draw private financing and/or government loans,” it said.
HONOLULU (HawaiiNewsNow) – A Honolulu man who had his identity stolen had to fly to California to clear his name. He acted quickly to stop his bank account from being completely drained.
Jamie Dahl said he’s speaking out because identity theft can happen to anyone and he’s not sure how his personal information was stolen.
“I’m still mystified how he pulled it off,” Dahl said.
In late November, Dahl found some fraudulent charges on his credit card so he ordered a replacement card.
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Two weeks later, he says went to his online bank account with Bank of America and discovered his identity had been stolen. The hacker had account access for instant money transfers.
“My phone number is missing, my email is missing, my mailing address. I live in Honolulu. It’s Mililani,” Dahl said.
He knew he was in trouble.
Dahl said two days after his discovered his identity had been stolen, he had to fly to California to clear his name because there are no Bank of America branches in Hawaii.
He brought several forms of ID to re-authenticate himself.
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“It was just an incredible ordeal,” he said.
“The bad guys are shopping just like everybody else for Christmas,” said former HPD Deputy Chief John McCarthy, who investigated cybercrime.
McCarthy says check your bank account daily and having a local bank is helpful.
“If you don’t have a local bank, you are that much father away. I’ve had problems with banks that are on the East Coast,” he said.
“It takes a day to communicate with them, a day to get a response. That’s a lot of damage you can do in 24, 48, 72 hours,” McCarthy added.
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McCarthy says most banks have streamlined their re-authentification process so you don’t have to see them in person.
Hawaii News Now contacted Bank of America to find out their process and are waiting to hear back.
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