This week in Santa Cruz County business: Midtown business district considered; Paystand grows in Canada

Quick Take

Santa Cruz officials are mulling the establishment of a business improvement district, which funds projects via fees or assessments on area businesses, in Midtown, Jessica M. Pasko reports in her weekly roundup. Meanwhile, Scotts Valley-based Paystand is expanding into Canada, the Big Lots in South County is closing, and Adorable French Bakery has opened at the former Malone's Grille on Scotts Valley Drive.

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.

Midtown Santa Cruz Business Improvement District eyed

Santa Cruz city officials are considering establishment of a business improvement district for the midtown area. A business improvement district (BID) is a defined area within which businesses can elect to pay an additional fee or assessment that funds projects within the district’s boundaries. Downtown Santa Cruz is a BID, for instance, and every business operating within the boundaries of that district pays an assessment that goes to the Downtown Association of Santa Cruz.

City officials will host two workshops this week to discuss the future of the midtown/eastside business corridor, an area bounded roughly by Soquel Avenue between Ocean Street and Morrissey Boulevard. Commercial property owners and business owners will hear from business district formation experts, and have a chance to share their feedback on services and improvements they’d like to see in the area.The meetings will be held virtually via Zoom and in person at the Branciforte library branch at 230 Gault St. on Wednesday from 5 to 6:30 p.m. and Thursday from 8:30 to 10 a.m. Register here.

Paystand expands into Canadian market

Scotts Valley-based payments tech company Paystand is expanding its network into Canada. The company, which provides blockchain-enabled payment services for businesses, has had limited service in Canada since 2018, but will now offer Canadian payers full access to the benefits of the Paystand platform and its payment network.

Paystand CEO Jeremy Almond and Chief of Staff Alexandra Navarro. Credit: Kevin Painchaud / Lookout Santa Cruz

Paystand, founded in 2014, provides technology that helps companies do things like pay vendors directly without having to mail them a paper check or automate payments for recurring bills. This means payments can be received faster and without the added fees that traditional banks sometimes charge. Founder Jeremy Almond has said previously his goal is to become the Venmo of business payments.

The move into Canada marks an important step in the company’s North American growth, building on its previous acquisition of Mexico’s Yaydoo. Overall, it’s been a busy year for the company. This spring, Paystand acquired Teampay, a New York City-based company that provides purchasing software for businesses. It also launched a philanthropic arm, paystand.org, that focuses on helping organizations expand financial literacy and technical education geared toward careers in cryptocurrency and blockchain.

Ch-ch-changes: Openings, closings and other developments

RTC selects new executive director: The Santa Cruz County Regional Transportation Commission has named Sarah Christensen the agency’s next executive director. Christensen has been with the agency since 2017. She takes over from interim director Mitch Weiss, who’s held the position since Guy Preston retired in December.
Public meeting set for proposed development on Soquel Avenue: Santa Cruz city officials will host an online community meeting on Monday to discuss a proposed six-story mixed-use building at the vacant lot at 1024 Soquel Ave. and hear public feedback. The preliminary application from local developer Workbench calls for 76 residential units with commercial space on the ground floor. The meeting takes place at 6 p.m. Log-in details here.
Santa Cruz-based Steeped launches new cold brew product: Steeped Coffee, a Santa Cruz company that produces pre-portioned compostable coffee bags, is partnering with Marin County’s Equator Coffees for a new product. Equator’s cold brew blend will now be available in Steeped’s brew bags, the two companies announced this week. Founded by Josh Wilbur in 2017, Steeped’s patent-pending process that lets users make coffee just like they’d make a cup of tea, without any extra equipment needed.
Big Lots’ South County store to close: The Big Lots store on Freedom Boulevard will shutter within the next couple of months amid the parent company’s bankruptcy filing. Earlier this year, the discount retailer announced plans to close nearly 300 stores in the coming months; approximately 250 additional stores will be closed by mid-January.
Bakery takes over former Malone’s in Scotts Valley: Adorable French Bakery, a regular vendor at the county’s farmers markets, has taken over 4402 Scotts Valley Dr., formerly home to Malone’s Grille. The bakery is currently in its soft opening period, with new hours and menu to be announced.

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

Looking at the numbers

$150: That’s how much an annual business license in Scotts Valley could cost if voters pass a business license tax modernization ballot measure this November. The current rate for a business license, $90, was set in 1992. City officials say the increase is needed to account for inflation and provide the city with increased revenue for services such as street repairs, maintaining parks, wildfire prevention programs and more. The measure calls for raising the base rate for an annual business license, and proposes a four-tier structure to ensure that businesses with higher revenues contribute more. If passed by voters, the new rates would be implemented in a two-year phased approach starting in May 2025.

Save the date

Wednesday, Sept. 11: The City of Santa Cruz is hosting a community feedback meeting to hear ideas from the public on how the city should spend $800,000 in federal housing and community development funds it has received. The meeting takes place from 5:30 to 6:30 p.m. at the London Nelson Community Center, 301 Center St. Feedback also can be submitted through this online survey.
Wednesday, Sept. 25: The Aptos Chamber of Commerce will showcase local businesses at the Marketplace on the Green, from 4 to 7 p.m. at Seascape Golf Course in Aptos. More information here.
Wednesday, Sept. 25: City officials are holding a grand reopening for the Capitola Wharf, following repairs from the 2023 storm damage. The event, from 2:30 to 5 p.m., will include food trucks, live music and a beer garden.
Saturday, Sept. 28: The El Pajaro Community Development Corp. and the Regional Women’s Business Center will hold a Latina Entrepreneurship Leadership Conference from 9 a.m. to 2:30 p.m. at the Watsonville Civic Plaza. Tickets and registration here.
Thursday, Oct. 3: The Santa Cruz County Chamber of Commerce will hold a “business after hours” event at Abbott SPI Inc., a local security guard service. The networking event takes place from 5 to 7 p.m. at Abbott’s offices at 2030 North Pacific Ave., Suite A, in Santa Cruz. It’s $20 for non-members and $10 for chamber members to attend. More details here.
Saturday, Oct. 5: Santa Cruz Community Health will mark its 50th anniversary with a fundraising gala at the Hotel Paradox in Santa Cruz, from 6 to 10 p.m. The event will feature speakers, a sitdown dinner and a cash bar. Tickets start at $150. For details and to purchase tickets, go here.
Thursday, Oct. 10: Workforce Santa Cruz County is sponsoring a job fair at Cocoanut Grove in Santa Cruz from 4 to 6 p.m. For more details and to register, click here.
Friday, Nov. 8: The Monterey Bay Economic Partnership hosts its 2024 Annual State of the Region event from 9 to 5 p.m. at the CSUMB University Center in Seaside. Representatives from Santa Cruz, Monterey and San Benito counties will speak about the region’s economic progress and other key issues. Register here.