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Mindbody breaks ground on $20M campus in SLO tech corridor

By   /  Tuesday, October 29th, 2013  /  Central Coast, Latest news, Real Estate, Technology, Top Stories  /  Comments Off on Mindbody breaks ground on $20M campus in SLO tech corridor

San Luis Obispo is set to get its flagship high-tech campus as software company MindBody CEO Rick Stollmeyer and local officials broke ground Oct. 29 on a $20 million project including a new office building, four-story parking structure and promenade that will link with an existing facility, eventually boosting employment to 1,300 people.

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Heritage buy sets stage to compete in big leagues

By   /  Friday, October 25th, 2013  /  Banking & Finance, Banking Industry, Central Coast, East Ventura County, South Coast, Top Stories, Tri-County Economy, West Ventura County  /  Comments Off on Heritage buy sets stage to compete in big leagues

With its $56.4 million purchase of another Central Coast bank, Heritage Oaks Bancorp lays the foundation to build the region’s next big community banking franchise and emerges as the dominant player in the market.

Paso Robles-based Heritage Oaks said Oct. 21 that it is buying Mission Community Bank, based in San Luis Obispo, in a cash-and-stock deal expected to close in the first quarter of 2014. The combined bank would have $1.5 billion in assets, making it the largest bank based in the Tri-Counties.

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Water woes: Publishing of nitrate data at issue

By   /  Friday, October 25th, 2013  /  Agribusiness, Central Coast, Features, Tri-County Economy  /  Comments Off on Water woes: Publishing of nitrate data at issue

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Ratings agencies unfazed as county pension costs rise

By   /  Friday, October 25th, 2013  /  Banking & Finance, Central Coast, East Ventura County, South Coast, Top Stories, Tri-County Economy, West Ventura County  /  Comments Off on Ratings agencies unfazed as county pension costs rise

Despite dire warnings that future pension costs could cause a fiscal meltdown for tri-county governments, credit ratings for Santa Barbara, Ventura and San Luis Obispo county bonds remain mostly unaffected by looming gaps in their retirement obligation funding.

Standard & Poor’s, a leading rating agency, ranks all three counties near the top of a scale that spans from its highest AAA to C, the lowest rating a bond can have without defaulting. Santa Barbara County carries the agency’s second highest AA-plus designation. Ventura County is assigned a slightly lower AA-rating this year and SLO County is ranked AA-minus.

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Paso looks to future after long-delayed step toward 11 AVAs

By   /  Friday, October 18th, 2013  /  Central Coast, Columns, Tri-County Economy, Wine & Viticulture  /  Comments Off on Paso looks to future after long-delayed step toward 11 AVAs

The TTB designates viticultural areas to help vintners better describe the origin of their wines and to inform consumers about wines they might purchase.

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Banking on downtown SLO: Heritage Oaks buys former Union Bank building

By   /  Friday, October 18th, 2013  /  Banking & Finance, Banking Industry, Central Coast, Real Estate, Tri-County Economy  /  Comments Off on Banking on downtown SLO: Heritage Oaks buys former Union Bank building

The multimillion-dollar sale of a prime property in the heart of the Central Coast’s busiest downtown comes amid a flurry of building activity that had some developers bidding on the lot in hopes of developing the bank building’s adjacent parking lot, which faces the corner of Marsh and Osos streets. But the timing was too good for Heritage Oaks to pass the location up, said Simone Lagomarsino, the bank’s CEO.

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Central Coast opens doors for flood of Chinese tourists

By   /  Friday, October 18th, 2013  /  Central Coast, Latest news, Tourism  /  Comments Off on Central Coast opens doors for flood of Chinese tourists

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