Stockton and the Central Valley are the first recipients in the Quality Jobs Fund program, a multimillion-dollar investment to create new high paying jobs.
The philanthropic New World Foundation along with the Federal Home Loan Bank of San Francisco has launched a $100 million fund to generate high paying jobs.
Stockton Mayor Michael Tubbs acknowledged that Stockton is the first in line for that investment with the first $5 million.
“Stockton is not only ground zero for a lot of the issues that the Quality Jobs Fund is trying to address but also ground zero for solutions. It represents a great investment in our most important asset, our people,” Tubbs said.
Jason Mills, who owns Utility Telecom in Stockton, said his company can expand and create new high paying jobs as a result.
“I believe in bringing more jobs closer to home. That the commute over the Altamont is not healthy. We need to move the jobs closer to the homes,” Mills said.
For John Ypma with Initiative Foods in the Central Valley, it means rebuilding his factory with new sophisticated equipment after a devastating fire.
“Before we would have somewhere around 150 people, no real skilled jobs. And now what we’re looking for is about 75 very skilled people and the wages will go from minimum wage up towards $20-25 an hour,” Ypma said.
An estimated 500 higher paying jobs for the area could result.