This wasn't a very good week for big business in the capital region. The Sacramento Business Journal's Digital Editor Sonya Sorich says Aerojet wasn't the only company to announce departures.
"Also, Jim McGrann, the CEO of Rancho Cordova-based VSP Global, stepped down to pursue other opportunities," says Sorich. "And finally, Pennsylvania-based Advanced Call Center Technologies announced 135 layoffs at its North Highlands site."
VSP Global is the country's largest vision insurance provider. Earlier this week, Aerojet announced plans to mostly abandon the Sacramento region, relocating or eliminating 1,100 jobs at its Rancho Cordova facility. The aerospace and defense contractor's rocket engine manufacturing operations will be consolidated in a new plant in Huntsville, Alabama. Aerojet says 300 employees will remain in Rancho Cordova to work in finance and other departments.
A collaborative workspace in midtown Sacramento is expanding. The Urban Hive is opening another site at The Cannery business park off of Alhambra Boulevard. Sorich says the Urban Hive will still keep its midtown space at 19th and H streets.
"The amount of space it has available at The Cannery is more than double what it has in midtown," says Sorich. "The new location is expected to open in September. Also, Brandon Weber, the founder of the Urban Hive is still opening I/O Labs, a local startup incubator this summer."
The Urban Hive says the expansion is necessary to keep up with growth. More than 100 companies are now based out of the co-working space. Developers of The Cannery are trying to transform the former tomato canning plant into a tech campus. Bay Area tech firm SupportPay is also leasing space at the site.
The CEO of Sacramento's Twelve Rounds Brewing Company announced Tuesday that he would be stepping down, following controversial statements he made on social media. But that wasn't the only beer story this week. Sorich says the region will soon see a couple of new breweries opening.
"Two local entrepreneurs are bringing Bent Shoe Brewing to an industrial area in Lincoln. It's a roughly $3 million project that could open in August. And over in El Dorado County, Solid Ground Brewing is getting closer to opening in Diamond Springs. We could see some soft-opening activities within the next four weeks."
Meanwhile, Twelve Rounds continues at its site in East Sacramento. Former CEO Daniel Murphy and his wife are divesting all ownership in the business after politically-charged statements about a women's march Murphy made on social media drew backlash earlier this year.