Blog - The Business Journal

Tulare County pistachio company expands to Northern California

A Central Valley pistachio company has expanded to Northern California with the opening of a new facility.

Setton Pistachio of Tera Bella, Inc. in Tulare County, the country’s second-largest pistachio grower and processor, has announced the opening of its new pistachio processing facility in Zamora in rural Yolo County north of Sacramento.

This expansion increases the company’s processing capabilities to meet the soaring demand for pistachios, while upholding its commitment to sustainable farming, according to a news release.

The Zamora facility will be operational for the 2025 harvest, which is expected to be a record-breaking crop.

Northern California has approximately 14,000 bearing acres of pistachios, with growth expected in several counties including Butte, Colusa, Glenn, Placer, Sacramento and Yolo.

Grower partners in Northern California will see reduced travel times and lower transportation costs.

“This expansion reflects the phenomenal momentum we are seeing in the pistachio industry, as trends arise and the benefits of plant-based snacking become more apparent,” said Setton Farms Chief Operating Officer Mia Cohen. “As we increase capacity to meet this need, our sustainability efforts continue to be at the forefront, ensuring we support both our growers and our environment.”

The company celebrated the plant’s grand opening with an event on June 5, inviting growers, vendors and state representatives.

Setton also recently acquired Deer Creek Pistachio, a pistachio processing facility in Terra Bella.

The investment increases Setton’s hulling, drying, processing capacity, and service capabilities at its main processing plant.

Setton’s Brooklyn facility in Terra Bella, the company’s headquarters, is also expanding its processing capacity.

Combined, these improvements add over 100 million pounds of additional volume, and further expansion is expected in the future.

Bitcoin soars to new all-time high as US lawmakers focus on pro-crypto legislation

Bitcoin continued its rapid climb and hit another all-time high Monday as U.S. lawmakers begin a week focused on passing pro-crypto legislation.

Data from CoinMarketCap showed bitcoin climbed above $123,000 early Monday, up from about $108,000 only a week ago. The world’s oldest and most popular cryptocurrency is currently the fifth most valuable asset class in the world at $2.4 trillion, giving it a higher market cap than Amazon.

The enthusiasm for bitcoin comes as the U.S. House is set to take up several pieces of cryptocurrency-related legislation in what’s been dubbed “crypto week” in Congress. Lawmakers have been under pressure from President Donald Trump and the big-spending crypto lobby to pass legislation quickly.

That includes a bill passed last month by the Senate that would regulate a type of cryptocurrency known as stablecoins. The House is also set to take up a cryptocurrency market structure legislation that is far more sweeping.

Trump, once a skeptic of the industry, has vowed in his second term to make the U.S. the global capital of crypto. Meanwhile, he and his family have moved aggressively into nearly every corner of the industry: mining operations, billion-dollar bitcoin purchases, a newly minted stablecoin and a Trump-branded meme coin.

The crypto industry has rapidly become a major player in Washington after feeling unfairly targeted by the Biden administration. The industry spent huge amounts on last year’s elections and has been spending heavily on lobbying and other influence efforts this year.

Bitcoin has seen a significant rebound since April, when it briefly dipped below $75,000.

Spot bitcoin ETFs are becoming increasingly popular since launching last year and several publicly traded companies have made using debt and stock sales to buy bitcoin their primary business strategy.

Created in response to the 2008 financial crisis, bitcoin has taken a highly volatile path to mainstream acceptance. Its backers say the asset is like a “digital gold” that can act as a hedge against central bank and government malfeasance. Only 21 million bitcoins will ever be created.

“Bitcoin’s price is finally catching up to what’s been building under the surface,” said Adam Back, CEO of the crypto company Blockstream. “This is institutional demand aligning with bitcoin’s fundamentals, and a fixed supply doing what it was designed to do.”

Starbucks takes aim at remote work, says some employees may need to relocate to headquarters

Starbucks is requiring some remote workers to return to its headquarters and increasing the number of days that corporate employees are required to work in an office.

In a letter to employees posted on Monday, Starbucks Chairman and CEO Brian Niccol said corporate employees would need to be in the office four days a week starting in early October instead of three days a week.

The Seattle-based company said that all corporate “people leaders” must be based in either Seattle or Toronto within 12 months. That is a change from February, when it required vice presidents to relocate to Seattle or Toronto.

Starbucks said individual employees working under those leaders would not be asked to relocate. But the company said all hiring for future roles and lateral moves will require employees to be based in Seattle or Toronto.

“We are reestablishing our in-office culture because we do our best work when we’re together. We share ideas more effectively, creatively solve hard problems, and move much faster,” Niccol wrote in the letter.

Niccol said affected workers who choose not to relocate will be eligible for a one-time voluntary exit program with a cash payment.

While many workers grew to enjoy working from home during the pandemic, the call for workers to return to offices full-time has been growing over the past year. Major employers such as Amazon, AT&T and the federal government have required employees to work in company sites five days per week. Competition for fully-remote jobs is fierce.

Starbucks spokeswoman Lori Torgerson said she didn’t have a count of employees who are currently working as “people leaders” or are working remotely. Starbucks has 16,000 corporate support employees worldwide, but that includes coffee roasters and warehouse staff.

Niccol was not required to relocate to Seattle when he was hired to lead Starbucks last August. Instead, the company said it would help him set up an office near his home in Newport Beach, California, and would give him the use of a corporate jet to commute to Seattle.

Since then, Niccol has bought a home in Seattle and is frequently seen at the company’s headquarters, Torgerson said.
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AP Business Writer Cathy Bussewitz contributed from New York.

US imposes a 17% duty on fresh Mexican tomatoes

The U.S. government said Monday it is placing a 17% duty on most fresh Mexican tomatoes after negotiations ended without an agreement to avert the tariff.

Proponents said the import tax will help rebuild the shrinking U.S. tomato industry and ensure that produce eaten in the U.S. is also grown there. Mexico currently supplies around 70% of U.S. tomato market, up from 30% two decades ago, according to the Florida Tomato Exchange.

But opponents, including U.S. companies that grow tomatoes in Mexico, said the tariff will make fresh tomatoes more expensive for U.S. buyers.

The Commerce Department said in late April that it was withdrawing from a deal it first reached with Mexico in 2019 to settle allegations the country was exporting tomatoes to the U.S. at artificially low prices, a practice known as dumping.

As part of the deal, Mexico had to sell its tomatoes at a minimum price and abide by other rules. Since then, the agreement has been subject to periodic reviews, but the two sides always reached an agreement that avoided duties.

In announcing its withdrawal from the Tomato Suspension Agreement, the Commerce Department said in late April that it had been “flooded with comments” from U.S. tomato growers who wanted better protection from Mexican imports.

But others, including the U.S. Chamber of Commerce and the National Restaurant Association, had called on the Commerce Department to reach an agreement with Mexico.

In a letter sent last week to Commerce Secretary Howard Lutnick, the Chamber of Commerce and 30 other business groups said U.S. companies employ 50,000 workers and generate $8.3 billion in economic benefits moving tomatoes from Mexico into communities across the country.

“We are concerned that withdrawing from the agreement – at a time when the business community is already navigating significant trade uncertainty – could lead to retaliatory actions by our trading partners against other commodities and crops that could create further hardship for U.S. businesses and consumers,” the letter said.

Nursing homes struggle with Trump’s immigration crackdown

(AP) — Nursing homes already struggling to recruit staff are now grappling with President Donald Trump’s attack on one of their few reliable sources of workers: immigration.

Facilities for older adults and disabled people are reporting the sporadic loss of employees who have had their legal status revoked by Trump. But they fear even more dramatic impacts are ahead as pipelines of potential workers slow to a trickle with an overall downturn in legal immigration.

“We feel completely beat up right now,” says Deke Cateau, CEO of A.G. Rhodes, which operates three nursing homes in the Atlanta area, with one-third of the staff made up of foreign-born people from about three dozen countries. “The pipeline is getting smaller and smaller.”

Eight of Cateau’s workers are expected to be forced to leave after having their Temporary Protected Status, or TPS, revoked. TPS allows people already living in the U.S. to stay and work legally if their home countries are unsafe due to civil unrest or natural disasters and during the Biden administration, the designation was expanded to cover people from a dozen countries, including large numbers from Venezuela and Haiti.

While those with TPS represent a tiny minority of A.G. Rhodes’ 500 staffers, Cateau says they will be “very difficult, if not impossible, to replace” and he worries what comes next.

“It may be eight today, but who knows what it’s going to be down the road,” says Cateau, an immigrant himself, who arrived from Trinidad and Tobago 25 years ago.

Nearly one in five civilian workers in the U.S. is foreign born, according to the Bureau of Labor Statistics, but as in construction, agriculture and manufacturing, immigrants are overrepresented in caregiving roles. More than a quarter of an estimated 4 million nursing assistants, home health aides, personal care aides and other so-called direct care workers are foreign born, according to PHI, a nonprofit focused on the caregiving workforce.

The aging of the massive Baby Boom generation is poised to fuel even more demand for caregivers, both in institutional settings and in individuals’ homes. BLS projects more growth among home health and personal care aides than any other job, with some 820,000 new positions added by 2032.

Nursing homes, assisted living facilities, home health agencies and other such businesses were counting on immigrants to fill many of those roles, so Trump’s return to the White House and his administration’s attack on nearly all forms of immigration has sent a chill throughout the industry.

Katie Smith Sloan, CEO of LeadingAge, which represents nonprofit care facilities, says homes around the country have been affected by the immigration tumult. Some have reported employees who have stopped coming to work, fearful of a raid, even though they are legally in the country.

Others have workers who are staying home with children they have kept out of school because they worry about roundups. Many others see a slowdown of job applicants.

“This is just like a punch in the gut,” she says.

Rachel Blumberg, CEO of the Toby and Leon Cooperman Sinai Residences in Boca Raton, Florida, has already lost 10 workers whose permission to stay in the U.S. came under a program known as humanitarian parole, which had been granted to people from Cuba, Haiti, Nicaragua and Venezuela. She is slated to lose 30 more in the coming weeks with the end of TPS for Haitians.

“I think it’s the tip of the iceberg,” says Blumberg, forecasting further departures of employees who may not themselves be deported, but whose spouse or parent is.

Blumberg got less than 24 hours’ notice when her employees lost their work authorization, setting off a scramble to fill shifts. She has already boosted salaries and referral bonuses but says it will be difficult to replace not just aides, but maintenance workers, dishwashers and servers.

“Unfortunately, Americans are not drawn to applying and working in the positions that we have available,” she says.

Front-line caregivers are overwhelmingly female and a majority are members of minority groups, according to PHI, earning an average of just $16.72 hourly in 2023.

Long-term care homes saw an exodus of workers as COVID made an already-challenging workplace even more so. Some facilities were beginning to see employment normalize to pre-pandemic levels just as the immigration crackdown hit, though industry-wide, there is still a massive shortage of workers.

Some in the industry have watched in frustration as Trump lamented how businesses including farming and hospitality could be hurt by his policies, wondering why those who clean hotel rooms or pick tomatoes deserve more attention than those who care for elders. Beyond rescinded work authorizations for people living in the U.S., care homes are having difficulty getting visas approved for registered nurses and licensed practical nurses they recruit abroad.

What used to be a simple process now stretches so long that candidates reconsider the U.S. altogether, says Mark Sanchez, chief operating officer of United Hebrew, a nursing home in New Rochelle, New York.
“There are lines upon lines upon lines,” says Sanchez, “and now they’re saying, ‘I’m going to go to Canada’ and ‘I’m going to go to Germany and they’re welcoming me with open arms.'”

Looking around a facility with a majority-immigrant staff, the son of Filipino immigrants wonders where his future recruits will come from.

“I don’t have ICE coming in my door and taking my people,” Sanchez says, “but the pipeline that was flowing before is now coming in dribs and drabs.”

Long-term care workers are routinely lured away not just by hospitals and doctors’ offices, but restaurants, stores and factories. Half of the average nursing home’s staff turns over each year, according to federal data, making the attraction and retention of every employee vital to their operation.

Robin Wolzenburg of LeadingAge in Wisconsin began working to place an influx of people from Afghanistan after the U.S. pulled out its final troops four years ago and thousands of refugees arrived in her state. Care homes began hiring the refugees and were so delighted with them, some facilities began hiring refugees who arrived from Ukraine, Somalia and Congo. Though many homes had employee retention rates around 30%, Wolzenburg said the figure was above 90% with refugees.

Trump has halted most refugee admissions, meaning Wolzenburg’s successful outreach program has no new arrivals to target.

“It’s been really devastating,” Wolzenburg says. “Our communities that were actively working with the resettlement agencies are not seeing those referrals to long-term care like we were. There’s no refugees coming in.”

Lynne Katzmann, the founder of Juniper Communities, which runs 21 facilities across five states, says it’s hard enough to find the right workers with a passion for older adults. Now, just as homes gird for an influx of residents brought on by the country’s demographic shift, they’re facing another challenge to a stable workforce.

“The work is hard. It’s not always been the highest paying job that one can get,” she says. “But many of the immigrants who actually have chosen this work consider caregiving a noble profession.”
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This story was first published on Jul. 13, 2025. It was updated on Jul. 14, 2025 to correct the last name of Juniper Communities’ founder.
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Matt Sedensky can be reached at msedensky@ap.org and https://x.com/sedensky

More than 20 states sue Trump administration over frozen after-school and summer funding

(AP) — More than 20 states sued President Donald Trump’s administration on Monday over billions of dollars in frozen education funding for after-school care, summer programs and more.

Some of the withheld money funds after-school and summer programming at Boys & Girls Clubs, the YMCA or public schools, attended by 1.4 million children and teenagers nationwide. Congress set aside money for the programs to provide academic support, enrichment and child care to mostly low-income families. But Trump’s administration recently froze the funding, saying it wants to ensure programs align with the Republican president’s priorities.

Led by California, the lawsuit alleges withholding the money violates the Constitution and several federal laws. Many low-income families will lose access to after-school programs if the money isn’t released soon, according to the suit. In some states, school restarts in late July and early August. The Department of Education did not immediately respond to a request for comment.

After-school programs for the fall are in jeopardy
Darleen Reyes drove through a downpour last week to take her son to a free Boys & Girls Club day camp in East Providence, Rhode Island. She told camp administrators the flash flood warning would have kept her away, but her son insisted on going.

Before kissing his mother goodbye, Aiden Cazares, 8, explained to a reporter, “I wanted to see my friends and not just sit at home.” Then he ran off to play.

In Rhode Island, the state stepped in with funding to keep the summer programs running, according to the East Providence club, and the state has joined the federal lawsuit. Other Boys & Girls Clubs supported by the grants have found ways to keep open their summer programs, said Sara Leutzinger, vice president for communications for the Boys & Girls Club of America. But there isn’t the same hope for the after-school programming for the fall.

Some of the 926 Boys & Girls Clubs nationwide that run summer and after-school programs stand to close if the Trump administration doesn’t release the money in the next three to five weeks, Leutzinger said. The clubs receive funding from the federal 21st Century Community Learning Centers program.

The YMCA and Save the Children say many of the centers they run are also at risk of shuttering.

“Time is of the essence,” said Christy Gleason, executive director of the political arm of Save the Children, which provides after-school programming for 41 schools in rural areas in Washington state and across the South, where school will begin as soon as August. “It’s not too late to make a decision so the kids who really need this still have it.”

Rural and Republican-led areas especially affected
Schools in Republican-led areas are particularly affected by the freeze in federal education grants. Ninety-one of the 100 school districts that receive the most money from four frozen grant programs are in Republican congressional districts, according to an analysis from New America, a left-leaning think tank. Of those top 100 school districts, half are in four states: California, West Virginia, Florida and Georgia. New America’s analysis used funding levels reported in 2022 in 46 states.

Republican officials have been among the educators criticizing the grant freeze.

“I deeply believe in fiscal responsibility, which means evaluating the use of funds and seeking out efficiencies, but also means being responsible — releasing funds already approved by Congress and signed by President Trump,” said Georgia schools superintendent Richard Woods, an elected Republican. “In Georgia, we’re getting ready to start the school year, so I call on federal funds to be released so we can ensure the success of our students.”

The Office of Management and Budget said some grants supported left-wing causes, pointing to services for immigrants in the country illegally or LGBTQ+ inclusion efforts.

But Congress’ appropriation of the money was in a bill signed by Trump himself, said Maurice “Mo” Green, North Carolina’s superintendent of public education. “To now suggest that, for some reason, this money is somehow or another needing review because of someone’s agenda, I think is deeply troubling,” Green told reporters Monday after North Carolina joined the federal lawsuit.

In North Carolina, about 40 schools are already in session, so the state is already trying to figure out ways to keep programs going, using state and local money, along with some federal money that has not expired.

The freeze affects programs including mental health services, science and math education, and support for students learning English, North Carolina Attorney General Jeff Jackson said, with the most severe effects in smaller, rural school districts. The freeze could also lead to approximately 1,000 teachers and staff being laid off, Jackson said.

Summer clubs provide instruction for children
At the East Providence summer camp, Aiden, a rising third grader, played tag, built structures with magnetic tiles, played a fast-paced game with the other kids to review addition and subtraction, learned about pollination, watched a nature video and ate club-provided chicken nuggets.

Veteran teachers from his school corrected him when he spoke without raising his hand and offered common-sense advice when a boy in his group said something inappropriate.

“When someone says something inappropriate, you don’t repeat it,” teacher Kayla Creighton told the boys between answering their questions about horseflies and honeybees.

Indeed, it’s hard to find a more middle-of-the road organization in this country than the Boys & Girls Club.

Just last month, a Republican and a Democrat sponsored a resolution in the U.S. House celebrating the 165-year-old organization as a “beacon of hope and opportunity.” The Defense Department awarded the club $3 million in 1991 to support children left behind when their parents deployed for the Persian Gulf.

And ever since, the Boys & Girls Club has created clubs on military installations to support the children of service members. Military families can sign up their kids for free.

“I suspect they will realize that most of those grants are fine and will release them,” said Mike Petrilli, president of the Thomas B. Fordham Institute, a conservative education policy think tank, speaking of the Trump administration’s review of the 21st Century Community Learning Center grants.

But not everyone is so sure.

Families see few affordable child care alternatives
Aiden’s mother has started looking into afternoon child care for September when kids return to school in Rhode Island.

“It costs $220 a week,” Reyes said, her eyes expanding. “I can’t afford that.”
The single mother and state worker said she’ll probably ask her 14-year-old son to stay home and watch Aiden. That will mean he would have to forgo getting a job when he turns 15 in the fall and couldn’t play basketball and football.

“I don’t have any other option,” she said.

At home, Aiden would likely stay inside on a screen. That would be heartbreaking since he’s thrived getting tutoring and “learning about healthy boundaries” from the Boys & Girls Club program, Reyes said.

Fernande Berard learned about the funding freeze and possible closure from a reporter after dropping off her three young boys for summer camp. “I would be really devastated if this goes away,” said the nurse. “I honestly don’t know what I would do.”

Her husband drives an Uber much of the day, and picking up the kids early would eat into his earnings. It’s money they need to pay the mortgage and everything else.

If her boss approves, she’d likely have to pick up her children from school and take them to the rehabilitation center where she oversees a team of nurses.

The children would have to stay until her work day ends.

“It’s hard to imagine,” she said.
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AP Education Writer Collin Binkley in Washington and Makiya Seminera in Raleigh, North Carolina contributed reporting.
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The Associated Press’ education coverage receives financial support from multiple private foundations. The AP is solely responsible for all content. Find the AP’s standards for working with philanthropies, a list of supporters and funded coverage areas at AP.org.

Supreme Court allows Trump to lay off nearly 1,400 Education Department employees

(AP) — The Supreme Court is allowing President Donald Trump to put his plan to dismantle the Education Department back on track — and to go through with laying off nearly 1,400 employees.

With the three liberal justices in dissent, the court on Monday paused an order from U.S. District Judge Myong Joun in Boston, who issued a preliminary injunction reversing the layoffs and calling into question the broader plan.

The layoffs “will likely cripple the department,” Joun wrote. A federal appeals court refused to put the order on hold while the administration appealed.

The high court action enables the administration to resume work on winding down the department, one of Trump’s biggest campaign promises.

The court did not explain its decision in favor of Trump, as is customary in emergency appeals. But in dissent, Justice Sonia Sotomayor complained that her colleagues were enabling legally questionable action on the part of the administration.

“When the Executive publicly announces its intent to break the law, and then executes on that promise, it is the Judiciary’s duty to check that lawlessness, not expedite it,” Sotomayor wrote for herself and Justices Ketanji Brown Jackson and Elena Kagan.

The secretary of education lauds the decision

Education Secretary Linda McMahon said it’s a “shame” it took the Supreme Court’s intervention to let Trump’s plan move ahead.

“Today, the Supreme Court again confirmed the obvious: the President of the United States, as the head of the Executive Branch, has the ultimate authority to make decisions about staffing levels, administrative organization, and day-to-day operations of federal agencies,” McMahon said in a statement.

A lawyer for the Massachusetts cities and education groups that sued over the plan said the lawsuit will continue, adding no court has yet ruled that what the administration wants to do is legal.

“Without explaining to the American people its reasoning, a majority of justices on the U.S. Supreme Court have dealt a devastating blow to this nation’s promise of public education for all children. On its shadow docket, the Court has yet again ruled to overturn the decision of two lower courts without argument,” Skye Perryman, president and CEO of Democracy Forward, said in a statement.

The Supreme Court has handed Trump one victory after another in his effort to remake the federal government, after lower courts have found the administration’s actions probably violate federal law. Last week, the justices cleared the way for Trump’s plan to significantly reduce the size of the federal workforce. On the education front, the high court has previously allowed cuts in teacher-training grants to go forward.

Separately on Monday, more than 20 states sued the administration over billions of dollars in frozen education funding for after-school care, summer programs and more.

Education Department employees are on leave
Education Department employees who were targeted by the layoffs have been on paid leave since March, according to a union that represents some of the agency’s staff.

Joun’s order had prevented the department from fully terminating them, though none had been allowed to return to work, according to the American Federation of Government Employees Local 252. Without Joun’s order, the workers would have been terminated in early June.

The Education Department had said earlier in June that it was “actively assessing how to reintegrate” the employees. A department email asked them to share whether they had gained other employment, saying the request was meant to “support a smooth and informed return to duty.”

The current case involves two consolidated lawsuits that said Trump’s plan amounted to an illegal closure of the Education Department.

One suit was filed by the Somerville and Easthampton school districts in Massachusetts along with the American Federation of Teachers and other education groups. The other legal action was filed by a coalition of 21 Democratic attorneys general.

The suits argued that layoffs left the department unable to carry out responsibilities required by Congress, including duties to support special education, distribute financial aid and enforce civil rights laws.

Fresno multifamily market heats up with $19M sale of modern complex

A 64-unit, multi-family complex in North Fresno’s Woodward Park area has sold for over $19 million, marking one of the Fresno region’s most expensive sales in a few years.

Northmarq’s Fresno-based multifamily investment sales team, led by Robin Kane and his son, Brendan, brokered the deal on behalf of the seller, an East Coast-based investment group. The buyer was a California family office hoping to modernize their portfolio with new assets.

The sale was announced on June 24 by Northmarq.

The Tempranillo Apartments, located 2445 E Copper Ave., were built in 2019 and offer modern and upscale amenities including a pool, 24-hour fitness center, resident lounge and in-unit washers and dryers.

Robin Kane noted that the location was very important to the property’s value.

It is located across the street from Copper River Country Club, which won The Business Journal’s 2024 “Best Of” award for Best Golf Course to Take a Client. It is within the Clovis Unified School District and won the California Apartment Association’s “New Development of the Year” award in 2019.

Despite its relatively new construction date and desirable location, the property faced challenges prior to the sale.

apartments — Robin Kane of Northmarq’s Fresno-based multifamily team said the $19 million sale of the Termpranillo Apartments near Woodward Park is further evidence of a recovering market. Photo contributed

“It was an East Coast-based owner who didn’t have any other presence on the West Coast, and he was faced with the property that unfortunately wasn’t being managed well,” Kane said. “It had 20% vacancies, and unfortunately, a large percentage of the existing tenants were still paying left over from the eviction moratorium.”

Kane said the situation required a change in management and an effort to remove the non-paying tenants.

“The problem was, you couldn’t start filling the vacancies until you dealt with the existing non-payees. It took the better part of six to eight months to finally convince those people that they needed to move,” he said.

By the spring of 2024, the seller had brought in a new management company, which initiated a tenant turnover process and addressed some of the other issues.

“There were a number of operational issues. Some of the things were left over from the construction,” Kane said, noting that the property was completed during the pandemic, which impacted finish quality and vendor reliability.

The result was worth the wait as Tempranillo was fully leased and generating income at the time of the sale.

“This thing closed 100% occupied, and it closed with no delinquency,” Kane said. “So, you know, mission accomplished.”

apartment pool — Modern and upscale amenities at the Tempranillo Apartments include a pool, 24-hour fitness center, resident lounge and in-unit washers and dryers. Photo contributed

The buyer was drawn to those characteristics and saw Tempranillo as a portfolio upgrade.

“His portfolio is older, so by acquiring this property, it had a pretty substantial effect on raising the average age of his portfolio,” Kane said. “You reduce your cost per unit in terms of maintenance because it is newer.”

He added that newer assets are easier to insure and finance, particularly in a time when many aging properties face issues with electrical panels and deferred maintenance.

Bryan Paulson, senior vice president and regional manager of commercial lending at Tri Counties Bank, stated that community banks remain active in multifamily lending throughout California, particularly in the Central Valley.

“Our philosophy helped bring the Tempranillo acquisition to life,” Paulson said. “We focus on ‘relationship banking,’ getting to know our customers on an individual basis in order to find the right solutions to fit their needs.”

While the full occupancy was a factor, Paulson noted that Tri-Counties Bank also compares current rents to what the market supports, reviews how much it costs to operate the property, checks for any needed repairs and assesses how well the property is being managed overall.

Kane said the completion of the Tempranillo deal signals a shift in Fresno’s multifamily investment market.

“We’re beginning to see evidence of the pent-up demand caused by, first, the pandemic, and then by the shock of the rise in interest rates,” Kane said. “As much as things are getting better—2025 is unfolding to be better than 2024, which was absolutely better than 2023—we’re still nowhere near close to the volume we were all doing in 2018 and 2019.”

Blog: Valley made and future ready

Manufacturing is more than the backbone of our economy. It’s a reflection of who we are. It represents ingenuity, resilience and upward mobility. In the San Joaquin Valley, we see those values in motion every day: in companies that are automating processes, reskilling workers and exporting goods that fuel both our local economy and global markets.

Nationally, the manufacturing sector is undergoing a seismic shift. After decades of offshoring and underinvestment, the U.S. is rethinking its industrial future. Tariffs, global supply chain disruptions and new federal investments have created both pressure and opportunity. Reshoring, infrastructure upgrades and clean energy manufacturing have become our reality. The question is: are we prepared?

In the Valley, signs point to yes.

Across the region, industry and education are working more closely than ever. Community colleges are expanding hands-on training. Local high schools are building stronger career technical education pathways. Employers are opening their doors to apprenticeships and internships that offer real-world experience. These efforts are part of a growing, coordinated push to equip our workforce for what’s next.

At the same time, many local manufacturers are adapting in real time. With input costs rising and skilled labor in short supply, companies are embracing technology to stay open. Automation, digital production tools and efficiency upgrades are no longer optional. They’re how smaller manufacturers are staying nimble and growing sustainably in a rapidly changing environment.

This transformation is being fueled by collaboration between employers, educators, economic development leaders and policymakers. That collaboration is critical as we look ahead. Because if this moment is about anything, it’s about the choices we make now to secure a more inclusive, durable economy for the future.

This October, the 10th Annual Valley Made Manufacturing Summit offers a chance to reflect on that progress and push the conversation forward. The event brings together stakeholders from across the region to share insights and align around solutions. This year’s keynote speaker, Oren Cass of American Compass, will offer a timely challenge: What does it take to rebuild American industry in a way that supports working families and strengthens local economies? What we believe is that it must start in places like the Valley.

For the San Joaquin Valley, manufacturing is about ensuring that our economy includes and uplifts the communities that make this region unique.

We have the grit, the vision, and the leadership to shape the next era of manufacturing. To learn more about the San Joaquin Valley Manufacturing Alliance and how you can get involved, visit www.sjvma.org.

Genelle Taylor Kumpe is CEO of San Joaquin Valley Manufacturing Alliance

Henry Thompson, Fresno’s aviation director, dies

Fresno City Manager Georgeanne White on Monday announced Henry H. Thompson, director of aviation for the city, has died.

The cause or date of death was not disclosed by the city.

Thompson took the director of aviation role in December 2021 with more than 35 years of aviation experience and a passion for public service, according to White’s statement.

He previously worked for the San Francisco International Airport and Mineta-San Jose International Airport and most recently served as director of the Santa Barbara Airport prior to becoming director of aviation for Fresno.

“During his time leading Fresno Yosemite International Airport, Henry was a leader whose expertise and commitment helped guide the airport through significant growth and development. His focus on improving the travel experience for our community and advancing the airport’s long-term goals left a lasting impact,” White said in a press release.

During Thompson’s tenure, the city launched its “FAT Forward” initiative for Fresno Yosemite International Airport (FAT), which included a $150 million terminal expansion.

Thompson presided over consecutive years of air traveler growth, reporting about 2.6 million of them for 2024, up 9% from calendar year 2023.

Thompson held a bachelor’s in business administration and a master’s in business administration finance. He was also one of a small percentage of airport professionals in the country to earn the distinguished Accredited Airport Executive credential.

Rep. Jim Costa said Thompson was a dedicated public servant and instrumental in strengthening the region’s infrastructure.

“I had the privilege of working alongside him to expand and modernize Fresno Yosemite International Airport, where I saw his leadership firsthand. His contributions to our community will have a lasting impact. My thoughts and prayers are with his family and friends during this difficult time,” Costa said.