Published by the San Luis Obispo Chamber of Commerce
E-Insider exclusive: state budget includes modest pension reforms, rainy day fund, but not much cost cutting Insiders leaked some important details about the state budget agreement that was reached yesterday after a record-setting 100-day delay. The budget compromise between the legislative leaders and the governor includes a two-tier pension system that would change the pension for public safety new hires from the current three percent of salary for every year worked at age 50 to three percent at age 55, still incredibly generous by private-sector standards. The “reforms” would also average the salary of the last three years of employment instead of just the last year as it exists today. The compromise also includes a so-called “rainy day” fund that would supposedly keep the legislature from over spending in unusually good tax years. The compromise fixes the $19 million deficit by about $7 billion in spending cuts and $12-billion in smoke and mirrors budget tricks like delaying payments and borrowing from special use funds. The budget compromise is expected to be voted in tomorrow after legislators have had just 24 hours to study the inches-thick budget. Level-Rosetta merger: economic development story of the decade Although unconfirmed by company officials, insiders report that Level-Rosetta, the new digital agency formed by the merger of SLO’s Level Studio and Princeton-based Rosetta will likely result in Level-Rosetta’s employment going from 150 to about 400 jobs in SLO, probably the largest single inflow of high-tech jobs in SLO history. These are the head-of-household, future-oriented jobs that the Chamber and others have been working so hard to attract. Adding 250 high-salary and high-tech jobs will have a positive impact on the local economy and practically every local business, and the branding impacts of having the West Coast headquarters of the largest digital agency in the nation will also be significant. New bike/walking path near completion Cal Poly gets $5-million NASA contract NASA has signed a $5 million contract designating Cal Poly as the provider for a broad range of mini-satellite services for NASA’s CubeSat program.The contract will ensure out-of-this-world, hands-on opportunities for Cal Poly students, who will be involved in actual launch campaigns working with launch providers, the NASA launch team and all other universities developing CubeSats. Cal Poly has pioneered research, development and launches of the mini-satellites, used in science missions. Sunset’s Savor brings food and wine attention to SLO
The new bike and walking path that connects the Madonna Road area with downtown San Luis Obispo is only about three weeks from completion. The 3,000-foot path cost about $500,000 and was privately funded by Madonna Enterprises as part of its air pollution mitigation for the Irish Hills Plaza development. The path had been part of the City’s Bike Plan for years, but had no obvious way of funding it. It greatly enhances SLO’s bike friendliness, especially for tourists.
Congratulations to the SLO County Visitors and Conference Bureau and Sunset Magazine for the very successful food and wine festival they brought to our county. Thousands of locals and tourists enjoyed the high-class and well-promoted life-style fair. The Sunset brand is one of the strongest in the food and wine field, and this event further strengthens our up-scale tourism branding regionally and nationally.
Special Information Employer Alert: Mandatory employee poster update. All employers are REQUIRED to update their 2010 Employment Poster by October 8. Click here for more information. Green Awards nominations open. Nominate your favorite green business, organization or individuals for this year's Green Awards, the only event that recognizes only San Luis Obispo County businesses. Chamber membership is not a requirement for nominations. Self nominations are highly encouraged. Click here for more information.
Important Upcoming Events
Follow the Chamber:
Text the word SLOCHAMBER to 74700 for last-minute information and event reminders - a maximum of four messages monthly.
Quick Links:
Slo-business.com | Slochamber.org | Visitslo.com | Business Directory
To unsubscribe to this and other Chamber e-mails, click here and e-mail your request.
Include the e-mail address you wish to unsubscribe.