Quick Take

Santa Cruz-based Cruz Foam, which developed a biodegradable packaging made from shrimp shells and other natural materials, has closed and sold off its intellectual property, Jessica M. Pasko reports in her weekly look at local business. Meanwhile, Santa Cruz-based West Coast Community Bancorp has moved its stock listing to the Nasdaq Stock Market, a milestone executives say is more than two decades in the making.

Each week, we’re taking a closer look at the movers and shakers, the growth of industries and what’s really driving the Santa Cruz County economy. I’ll be spotlighting some of the biggest areas for opportunity, updates on local development and all things underpinning the regional business scene each Wednesday.

Got ideas? Send them my way to news@lookoutlocal.com with “Business News” in the subject line.

Sustainable packaging company Cruz Foam closes, sells off intellectual property 

A Santa Cruz company that developed a biodegradable packaging made from shrimp shells and other natural materials has ceased operations and sold off its intellectual property to another company in Virginia.

Cruz Foam grew out of a project CEO John Felts began while working on his doctorate at UC Santa Cruz. He and Marco Rolandi, a professor at UCSC, first sought to use their biodegradable foam product to create eco-friendly surfboard blanks, but later turned to sustainable packaging. Using chitin, a material found in the shells of shrimp and other sea life, they created a plastic substitute that could be used by companies to package goods for shipping, even items that need to remain cold during transit. 

Their invention attracted the attention of celebrity investors such as Ashton Kutcher and Leonardo DiCaprio, who also served as advisors to the company. In 2022, Cruz Foam raised $18 million in a funding round led by Helena, a global organization, along with firms One Small Planet, Regeneration.VC, At One Ventures and SoundWaves, of which Kutcher was previously a part-owner. 

Despite Cruz Foam’s high-profile investors and network of partnerships, the company folded and last week, a Virginia company announced it had purchased Cruz Foam’s intellectual property. TemperPack, which also specializes in sustainable packaging, gained 23 patents and patent applications as part of the purchase.

Read more here.

West Coast Community Bank now listed on Nasdaq

West Coast Community Bancorp Chair and CEO Krista Snelling (center) and company executives and board members cheer after ringing the closing bell Oct. 12 at the Nasdaq Stock Market in New York. Credit: West Coast Community Bancorp

Santa Cruz-based West Coast Community Bancorp has moved its stock listing to the Nasdaq Stock Market, a milestone executives say is more than two decades in the making. 

West Coast Community Bancorp is the parent company of West Coast Community Bank, which grew out of Santa Cruz County Bank following a merger with Salinas-based 1st Capital Bank in 2024.

Being listed on the Nasdaq underscores a company’s credibility and visibility in financial markets, and signifies to investors that the company has met stringent regulatory and financial standards. That’s a key step to attracting more investment.

CEO Krista Snelling and other bank executives marked the occasion by ringing the famed Nasdaq closing bell in New York City last week. 

Santa Cruz County Bank was founded in 2004 by a group of business leaders who sought a locally owned and operated bank. Today, West Coast Community Bank operates 11 branches across five counties: Santa Cruz, Monterey, San Mateo, Santa Clara and San Luis Obispo. The bank’s newest branch recently opened in San Mateo.

The bank’s shares have traded publicly since 2004, but trading was done through smaller networks rather than a formal stock exchange like Nasdaq.

The bank remains headquartered in Santa Cruz and consistently earns accolades for being among the top community banks in the country. 

Ch-ch-changes

  • Joby named one of Time magazine’s best inventions of 2026: Santa Cruz-based Joby Aviation has earned a spot on Time’s annual list of  best inventions for its electric aircraft, designed to take off and land vertically. The company is currently working toward receiving Federal Aviation Administration certification, which will enable it to launch commercial passenger service. 
  • Zero Motorcycles sets Guinness world record: A Zero electric motorcycle recently set a Guinness record for longest journey by an electric motorbike on a single charge, the company said. Three riders on three different electric motorcycles set off through France with a goal to beat the standing record of 193 miles. The rider on the Zero DS covered just over 271 miles on a single charge, surpassing the other two bikes. While Zero Motorcycles moved its headquarters to the Netherlands last year, the company maintains some operations, including research and development, in Scotts Valley, where it was founded. 
A Parallel Flight Technologies drone in flight.
A Parallel Flight Technologies drone in flight. Credit: Parallel Flight Technologies
  • Parallel Flight Technologies signs new deal with Australian partner: La Selva Beach-based drone developer Parallel Flight Technologies has signed a distribution partnership with Australia’s Drone Forge. This partnership will allow Drone Forge to distribute Parallel Flight’s Firefly across the broader Asia-Pacific region. Firefly is a special type of drone that combines heavy lifting and long duration, designed for use in firefighting, agriculture, defense operations and more.
  • County supervisor’s office hires senior analyst: District 4 Santa Cruz County Supervisor-elect Tony Nuñez has hired Eli Garnica as a senior analyst in his office, with a focus on community engagement and community building. The Watsonville native most recently served as development manager and interim development director at Jacob’s Heart Children’s Cancer Support Services. Prior to that, she worked with Community Health Trust of Pajaro Valley and the Community Action Board of Santa Cruz County.
  • Visit Santa Cruz County appoints new director to board: Santa Cruz City Councilmember Gabriela Trigueiro is the newest member of Visit Santa Cruz County’s 25-member board, a position that comes with a two-year term. Trigueiro previously served as the executive director of Big Brothers Big Sisters of Monterey Bay, which ceased operation in June. Trigueiro also serves on the board of directors for Flamenco Vivo Carlota Santana, a leading flamenco organization. Visit Santa Cruz County is also seeking nominations from the lodging community for its board of directors. For more information, call 831-425-1234. The nomination form is here; the deadline to apply is Friday, Oct. 30.

Got hires, promotions or departures to report? Send them to news@lookoutlocal.com with the subject line “Career changes.”

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Looking at the numbers

  • 5.1% – That was the unemployment rate for Santa Cruz County in September, according to the latest numbers from the state’s Employment Development Department. It was down from 5.3% in August 2026 and from 5.4% in September 2025. It matched the state’s unemployment rate for September, but surpassed the U.S. rate of 4%. The county lost 1,200 jobs between August to September, with the bulk (700) coming from the leisure and hospitality sector, which typically sees job losses as the summer travel season winds down. 

Save the date

  • Thursday, Oct. 22: The Monterey Bay Economic Partnership will host the Creative Economy Summit, bringing together business leaders, community leaders and innovators from Monterey, San Benito and Santa Cruz counties to explore the role that arts and culture play in the region’s economic future. The event will be held from 10 a.m. to 2 p.m. at the Watsonville Civic Plaza. Register here.
  • Thursday, Oct. 22: The Santa Cruz Area Chamber of Commerce, Santa Cruz County Business Council and the Downtown Association of Santa Cruz will hold the second annual countywide business mixer. The event takes place at the Museum of Art and History in Santa Cruz from 5:30 to 7:30 p.m. Tickets are available here.
  • Thursday, Oct. 29: The Monterey Bay Fisheries Trust, along with the Pajaro Valley Chamber of Commerce, the Moss Landing Chamber of Commerce and the Monterey Peninsula Chamber of Commerce, will host a ribbon-cutting and celebration for the organization’s new initiative to strengthen the Monterey Bay commercial fishing economy. The event takes place from 4 to 5:30 p.m. at The Haute Enchilada, 7902 Moss Landing Rd., Moss Landing. Attendees are asked to RSVP to Emily Hess by Oct. 27 at ehess@mbfishtrust.org or 831-717-8809.
  • Friday, Nov. 6: The Monterey Bay Economic Partnership will hold its annual State of the Region conference at the University Center at Cal State Monterey Bay from 8:30 a.m. to 3 p.m. Speakers will represent industries and municipalities throughout San Benito, Monterey and Santa Cruz counties. This year’s keynote speaker is Somjita Mitra, the chief economist for the California Department of Finance. For more details and to register to attend, go here. 
  • Friday, Nov. 13: The Aptos Chamber of Commerce will hold its annual awards dinner and auction from 5 to 9 p.m. at Seascape Beach Resort. For tickets and registration, go here.

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Business news worth reading

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Jessica M. Pasko has been writing professionally for more than two decades. She cut her teeth in journalism as a reporter for the Associated Press in her native Albany, New York, where she covered everything...