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ECONOMIC VIEW -
Grow It! Make it! Ship It! @ San Joaquin USA
July 2014

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Boretech opens first U.S. facility in
Stockton
 
 

   Boretech Resource Recovery Engineering, LLC, a PET bottle recycling company, began operations in Taiwan in 1991. Over the past 24 years, Boretech has expanded into polyester stable fiber production, which uses recycled clean PET flake (from plastic bottles) in engineering and machine manufacturing.  The company's philosophy is that garbage generated in a particular region should be recycled into a final product to be used in that region.  

   Keeping with that philosophy, Boretech is opening its first United States manufacturing facility in Stockton, moving into 58,800 square feet in the Massie Industrial Park near the Stockton Metropolitan Airport. They hope to open by the end of summer and eventually employ 45 people. Diede Construction, a San Joaquin Partnership Investor, is currently doing tenant improvements on the facility.

 

   In the United States only 28% of PET bottles are recycled with a majority of recycled garbage shipped overseas, primarily to Asian countries.   

   California, with its California Refund Value (CRV), has a leading recycling rate of approximately 65%. Because of the CRV, California's recycling centers can pay 70 cents for one pound of bottle weight (10 bottles would equal about one pound).

   The San Joaquin Partnership assisted Boretech with its location to Stockton, providing fee estimates, incentive analysis, permitting and human resource assistance. 

   Partners in this location include the City of Stockton Economic Development, Community Development and Municipal Utility departments, and Michael Goldstein, a broker with Colliers International, a San Joaquin Partnership Investor. 

    Boretech is now working with the Stockton Chamber Apprenticeship Program (SCAP), San Joaquin Delta College, and UOP for workforce recruitment.

 


 City of Lathrop opens  
 Generations Center

 

 

 

   The  9,500 square foot Lathrop Generations Center, which debuted to the public on June 27th, features a skate park, basketball court, teen center and cafe, public library, computer lab and amphitheater.   

  The new center was seven years in the making, first envisioned by Lathrop officials in 2007. They say the final result was well worth the wait.  

  Many of the facilities at the Generations Center are for people of all ages, but one of the focal points at the site is the new teen center, funded with a $5 million grant from the State of California.  

   It is located on nearly seven acres at 450 Spartan Way, a short walk from Lathrop High School. When school is out, it will provide a meeting place for middle- and high-school students. When school is open, teens will have an inviting and stimulating after-school environment in which to spend time productively.
  

     

Stockton Metropolitan Airport Improvements Added to Measure K Half-Cent Sales Tax Program

 

 

   The San Joaquin Council of Governments (SJCOG) Board has unanimously approved the addition of the Stockton Metropolitan Airport Terminal Expansion and Modernization Project to the Measure K Expenditure Plan.   

   The Measure K Expenditure Plan is a plan that identifies the eligible projects and uses of Measure K funds, the half-cent sales tax approved by San Joaquin voters. The action recognizes the Stockton Metropolitan Airport as a regional facility where all communities in the region share in the economic benefits of the facility.

   The addition of the project to the plan is not a commitment of Measure K funds but allows the Airport to pursue funding through a Measure K Strategic Plan amendment at a future date.

SJCOG is San Joaquin County's regional transportation planning, coordinating, and financing agency and is comprised of the County of San Joaquin and the cities of Escalon, Lathrop, Lodi, Manteca, Ripon, Stockton, and Tracy.  As the local transportation authority, SJCOG oversees Measure K, the local half-cent transportation sales tax for San Joaquin County.

 


    


Partnership Investor News:
Oak Valley Community Bank 
  OAK VALLEY BANCORP REPORTS 2nd QUARTER RESULTS
   Oak Valley Bancorp (NASDAQ: OVLY), the bank holding company for Oak Valley Community Bank and Eastern Sierra Community Bank, recently reported consolidated financial results. For the three months ended June 30, 2014, consolidated net income available to common shareholders was $2,537,000, or $0.32 per diluted common share. This compared to consolidated net income available to common shareholders of $1,374,000, or $0.18 per diluted common share for the same period a year ago.
   "We are very pleased to report another solid operational performance for the quarter. Despite continued margin pressure, the efforts of our relationship management teams are producing results that are fueling earnings," stated Chris Courtney, President and CEO of the Company and the Bank. Chris Courtney OVCB "We acknowledge the tremendous impact of the recovery the Bank recorded during the quarter, yet we are equally energized by the loan growth we've experienced and the
underlying momentum we seem to be building within the local business community," Courtney concluded.


 
OAK VALLEY BANCORP TO PAY CASH DIVIDEND
  On July 1, 2014 the Board of Directors of Oak Valley Bancorp (NASDAQ: OVLY) declared the payment of a cash dividend of $0.065 per share of common stock to its shareholders of record at the close of business on July 14, 2014. In aggregate, the distribution will amount to approximately $524,000. The payment date will be July 28, 2014.
The Company currently operates through 14 branches in Oakdale, Sonora, Turlock, Stockton, Patterson, Ripon, Escalon, Manteca, three branches in Modesto, and three branches in their Eastern Sierra Division, which includes Bridgeport, Mammoth Lakes, and Bishop. The Company also announced plans in May to open a branch in Tracy later this summer.


In This Issue
City of Lathrop opens Generations Center
Airport improvements added to Measure K program
Oak Valley Community Bank 2nd quarter results
Marti Denk joins F & M Bank
Read the San Joaquin Partnership Annual Report online!
July Investor Anniversaries
The San Joaquin Partnership would like to recognize and thank our investors who are celebrating their anniversaries with us in July!
  
  
18 YEARS - 1996

7 YEARS - 2007
MANEX Consulting

5 YEARS - 2009
  

 
  
MARTI DENK JOINS F&M BANK AS 
SENIOR VICE PRESIDENT, RETAIL BANKING
   Kent A. Steinwert, Chairman, President and Chief Executive Officer of Farmers & Merchants Bank of Central California, recently announced the appointment of Marti Denk as Senior Vice President, Retail Operations Manager.
  Denk brings with her over 25 years of experience in the banking industry. Most recently with Community Bank of San Joaquin where she served as Executive Vice President, Chief Operating Officer with responsibility for the branch system and administrative departments.
   Denk previously held key management positions with Stockton Savings Bank and American Savings and Loan.
   "Marti has earned a strong reputation in the financial industry and is a respected leader. We are extremely thrilled that she is now part of the F&M Bank team. Marti truly understands the core values of community banking. Her expertise in improving operational efficiencies, enhancing customer service and developing customer relationships is a perfect fit for our organization," said Steinwert.  

 
CALENDER
 
 
July


24 
Board of Directors Meeting
8:00 AM
Partnership Conference Room

August

14 
Partnership Membership BBQ
4:30 - 6:30 PM
UOP Alumni House

28 
Board of Directors Meeting
8:00 AM
Partnership Conference Room


 

 
2014
Project Wins
 
6    
 Sq. Ft.     938,510
    Jobs      219-613 New
                  115 Retained 
 
  
 
Companies
 
 Undisclosed Manufacturer 

  
  
Quick Links
  
  
San Joaquin Partnership Annual Report online
 
  The 2013-2014 Annual Report is available on the San Joaquin Partnership web site.
Click here.
 
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