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Heritage Oaks and Mission Community merger to close Feb. 28

By   /  Thursday, February 20th, 2014  /  Banking & Finance, Banking Industry, Central Coast, Top Stories, Tri-County Economy  /  Comments Off on Heritage Oaks and Mission Community merger to close Feb. 28

The $56 million deal will make Heritage Oaks the largest community bank in the Tri-Counties, with about $1.6 billion in assets.

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Mindbody raises $50M for global push

By   /  Thursday, February 20th, 2014  /  Central Coast, Technology, Top Stories, Tri-County Economy  /  Comments Off on Mindbody raises $50M for global push

San Luis Obispo-based Mindbody has raised $50 million in new capital, its largest amount to date, that will used to fund global expansion and mobile product development. The raise brings its total venture capital raised thus far to more than $110 million and likely marks the largest-ever raise in San Luis Obispo County.

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Chinese firm to pump $665M investment into Santa Maria oil field

By   /  Wednesday, February 19th, 2014  /  Central Coast, Technology, Top Stories, Tri-County Economy  /  Comments Off on Chinese firm to pump $665M investment into Santa Maria oil field

One of the most prominent oil field redevelopments in Santa Barbara County is set to be acquired by a Chinese jewelry firm. Houston-based ERG Resources confirmed to the Business Times that it is set to be acquired by Beijing-based Goldleaf Jewelry Co., a jewelry firm that also has gold mining investments.

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Mission Community shareholders approve $56M acquisition

By   /  Tuesday, February 18th, 2014  /  Banking & Finance, Banking Industry, Central Coast  /  Comments Off on Mission Community shareholders approve $56M acquisition

Shareholders of San Luis Obispo-based Mission Community Bancorp have voted overwhelmingly in favor of a proposed merger with Heritage Oaks Bancorp out of Paso Robles. The $56 million deal was announced in October 2013 and would leave Heritage Oaks as the survivor and the largest bank based in the Tri-Counties.

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Hotel developers embrace Paso Robles wine boom

By   /  Friday, February 14th, 2014  /  Central Coast, Real Estate, Top Stories, Tourism, Tri-County Economy, Wine & Viticulture  /  Comments Off on Hotel developers embrace Paso Robles wine boom

A hotel development frenzy in Paso Robles could double the number of rooms in town over the next 10 years, a figure that already has seen twofold growth since 2000 as wineries flourish.

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Tri-county cities scramble as state cuts water deliveries

By   /  Friday, February 7th, 2014  /  Agribusiness, Central Coast, East Ventura County, Green Coast, South Coast, Top Stories, Tri-County Economy, West Ventura County  /  Comments Off on Tri-county cities scramble as state cuts water deliveries

Customers of the State Water Project will not receive any water deliveries this year if current dry conditions persist, a cutback that could be troublesome for certain tri-county cities.

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REC spinout could expand SLO solar jobs

By   /  Friday, February 7th, 2014  /  Central Coast, Technology, Top Stories, Tri-County Economy  /  Comments Off on REC spinout could expand SLO solar jobs

San Luis Obispo can expect to see a slight increase in solar-power industry jobs with a recent deal that split up REC Solar and sold off its residential installation business to a San Francisco firm.

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