New ventures bring change to Santa Clara
New business helps strengthen a metro’s economy in a variety of ways, which is why the introduction of new ventures in Santa Clara is positive news. Companies bring new employment opportunities, increased revenue and economic growth. While the city's economy is steadily improving, according to recent research, further advances are reducing unemployment in the region and increasing overall gross domestic product.
According to the Bureau of Labor Statistics, the San Jose-Sunnyvale-Santa Clara region had an unemployment rate of 7.9 percent in October 2012 - down from 8.4 percent in May 2012. It also boasted a civilian labor force of 950,400 people in October 2012.
Potential homebuyers looking to move into Santa Clara should consider the new projects as a sign of economic health. After researching the homes for sale in Santa Clara, an individual may want to check the number of new business opportunities cropping up throughout the Silicon Valley area.
GoDaddy leases property in Silicon Valley
The name brand domain registration company GoDaddy has recently entered into a lease in Sunnyvale. The technology company’s new office is only five miles from Santa Clara, which makes it a more than reasonable commute for professionals.
The 8,160 square-foot space is part of the Sunnyvale City Center Office complex and is GoDaddy’s first physical business location within the Silicon Valley, according to the Silicon Valley/San Jose Business Journal.
"Outright is outgrowing its space, and we wanted to just kind of open the pool and increase our ability to attract talent throughout our organization," chief financial officer Michael Zimmerman told the news source.
The new office will initially house 25 local workers, but could soon hold up to 60 as the company contemplates its future hiring. Information technology professionals seeking a new position may find that GoDaddy offers the right job for them - at a location that is easy to commute to and from.
Symphony development could bring jobs to Santa Clara
A Los Angeles development company is poised to purchase land across from the San Jose City Hall. The Silicon Valley/San Jose Business Journal reports that Symphony Development bid $4.25 million for the piece of property at 193 East Santa Clara Street.
The piece of land is 61,650-square feet and extends from the Santa Clara Street parking garage to Fourth and Fifth streets. According to the news source, the company is expected to build a retail outlet high-rise with potential housing on the upper levels.The retail space is expected to be leased to luxury brands because of its prime location.
"We're delighted to hear the news," Symphony's president, David Hilliard, told the news source. The Symphony development company builds student housing, office space, multifamily residential and retail stores, according to its website.
Once approved, the building of the new structure will increase the number of jobs in the local area and bring revenue to the city as a result. First with construction and later with maintenance and retail employees, the building will have a positive impact on the Santa Clara economy. Large development projects not only bring jobs to the area, but also promote further spending by consumers and stimulate the local economy.
New business ventures could bring a host of opportunities to residents in Santa Clara. Those looking to relocate to the California metro should consider checking out the MLS listings in Santa Clara to find an affordable property.