Economy

How valuable do you think a strong economy is? How about our local economy? I?m sure as we enter a time of financial uncertainty the importance of maintaining a strong economy is uppermost all of our minds. Can you identify what our local economy is? It?s the restaurants along Honolulu, the local carpenters and handymen, the stores that sell everything from food to trinkets to chlorine for our pools. One entity that spends each working day nurturing and promoting our local economy is our local chambers of commerce.

CITY HALL — City officials on Tuesday reiterated their commitment to improving Glendale’s economy through a range of plans for business development, luring new companies to the area and building a brand identity that consumers can relate to. Their statements came during an update from Glendale development officials about the state of the city’s economy and efforts to address unemployment and low sales tax revenues. The city’s most recent measure of sales tax revenues, from the third quarter of 2009, shows they were down 13.7%, Development Services Director Philip Lanzafame said.

CITY HALL — Not even falling gas prices could brighten the mood among dozens of taxicab drivers undergoing city inspections Thursday, who said the economy is presenting its own challenges as potential passengers tighten their belts.  “Business is very, very slow,” City Cab driver Varouj Zargaryan said Thursday morning as city officials inspected his maintenance records. “We have to put in a lot of hours now.” All 81 of the taxicabs licensed to pick up passengers in Glendale were scheduled to undergo the second leg of their twice-annual evaluations Thursday and Friday in a parking lot at City Hall.

GLENDALE — With its luxury apartments just 25% filled and some stores reporting stagnant sales, the Americana at Brand may be experiencing the same woes other businesses in the region are currently undergoing in a distressed economy. Still, city and mall officials said the mixed-use development has been a boon for the city. Since the outdoor shopping center opened May 2, officials have praised the high-class shopping and luxurious apartments that sit above the 900,000-square foot development in Downtown Glendale.

Three candidates vying to fill a vacant seat in the 43rd Assembly District faced off in a bilingual forum Sunday that featured perspectives on the state budget, the economy and the Armenian Genocide. The Assembly hopefuls were non-confrontational while expressing their often starkly different takes on solving state challenges, with one calling for cuts to regulations while another pushed for passing new laws to stimulate growth. “We are the only state that doesn’t tax the oil companies that drill,” Democrat Nayiri Nahabedian, a member of the Glendale Unified School District Board of Education, said in response to a question about how to improve funding for education.

CITY HALL ? A historical evaluation of the Rockhaven Sanitarium, which the city bought for $8.25 million in 2008, should be completed early next year, but any immediate renovation to the buildings appears unlikely due to the city?s financial crunch, officials said. In April 2008, the City Council unanimously approved the acquisition and appropriated an additional $500,000 for initial site exploration and maintenance, including renovations to the caretaker?s house, which were completed last year.

PASADENA — Pets are fast becoming collateral damage in the slowing economy, with local animal shelters reporting an increased number of drop-offs from owners who say they can no longer afford the bill, officials said. The Pasadena Humane Society, which services Glendale, has reported a 33% increase in the number of dogs put up for adoption between June and August. In the same period, the number of homeless cats at the shelter has jumped 11%, prompting the shelter to initiate a $150,000 set of “emergency response” measures to cope with the tide of adoptable pets, said Ricky Whitman, vice president of community resources.

GLENDALE — Restaurateurs in the region are reporting diminished profits and low customer turnout as the economy continues to drag amid high gas prices and a fluctuating housing market, officials said Monday. Many restaurant managers throughout Glendale have said they noticed a dwindling number of patrons, though the number of food service employees has actually increased since last year in Los Angeles County. But spending is down at most eateries, said Jack Kyser, chief economist for the Los Angeles Economic Development Corp.

CITY HALL — The amount of money that Glendale Water & Power had to write off due to default customer accounts jumped nearly 61% to $219,324 in the first half of the fiscal year, utility officials reported Monday. The 2008 year-end amount left owed mostly by bankrupt business customers also spiked 342% compared with the previous year for a total of $69,365, according to a report Monday to the Glendale Water & Power Commission. While the dollar figures represent less than 1% of the city-owned utility’s annual revenue, the “substantial” increase in the percentage of customers defaulting or falling behind on their bills is expected to increase in the second half of the current fiscal year, said Tammi Vallier, customer service administrator for the utility.

GLENDALE — Police have linked the economic downturn to a significant jump in property crime in the city during the first six months of 2008 Property crimes — such as burglary, auto theft, auto burglary, grand theft, petty theft and arson — rose to 2,061 incidents in January through June from 1,782 incidents in the first six months of 2007, according to Glendale police crime statistics. The upward trend will likely continue if economic struggles persist, police Sgt. Tom Lorenz said.