Jim Damian

Proud to serve as Kern County's Chief Economic Development Officer.

[Jim Damian @JimDamian]

@TheKevinTorbert 🤯

[Under Secretary of State Jacob S. Helberg @UnderSecE]

The Trump Administration is dedicated to America’s global leadership in AI technology innovation.

With the right governmental policies, continued U.S. AI leadership will promote human flourishing, economic competitiveness, and national security.

[Kevin Torbert @TheKevinTorbert]

updated ui
updated background
optimized for mobile/portrait. Decent flow on my phone.

https://t.co/d2AZg1aowg

[Jim Damian @JimDamian]

It is cold comfort..but today's #Bitwise sentencing was a victory for Central Valley entrepreneurs and investors.
Here's why I feel this way:

https://t.co/u5NATQrX9r

[Andrea Hansen @Andrea4theArts]

Cultivating Creativity in Young Minds! 🧠 💡Thank you Stonecreek Junior High School and Principal Katrina Wilson for inviting me to attend your Career Fair to speak about the arts in the Central Valleys! @StonecreekJHS @PBVUSD @katwilson80

[Kern Public Health @KCPublicHealth]

Who do you want to be healthier for in 2024?
Look for our new PSA in local movie theaters and on TV featuring local leaders @karenkgoh, @JimDamian and Supervisor David Couch!
Visit our website to learn more: https://t.co/fgzB9RUGWe

[Jim Damian @JimDamian]

The Farmer’s Code: How Legacies are Built by @mikecyoung is a fantastic read for anyone interested in leadership and legacy! https://t.co/pJ5z2ZnsLr

[Bethany Bongiorno @bella_bongiorno]

the future of compute is contextual,
the world as your operating system,
ai doing the heavy lifting so you don’t have to.

this is not a question - this is a fact.

our vision at @Humane since 2018 was to build the device and platform for this evolution - because we knew it was inevitable.

but - we also believe in a future where you can access this compute in a way that allows you to remain truly present in the world.

exciting days ahead…

[Jim Damian @JimDamian]

@bella_bongiorno @Humane Thank you!

[Chevron @Chevron]

We carefully select our carbon storage sites. Kern County is a prime location👌 because of its impermeable caprock seal �We carefully select our carbon storage sites. Kern County is a prime location👌 because of its impermeable caprock seal �We carefully select our carbon storage sites. Kern County is a prime location👌 because of its impermeable caprock seal �We carefully select our carbon storage sites. Kern County is a prime location👌 because of its impermeable caprock seal �We carefully select our carbon storage sites. Kern County is a prime location👌 because of its impermeable caprock seal 🪨

[Chevron @Chevron]

The proposed Eastridge project will help enable energy progress with carbon capture and storage and create job opportunities.

[Jim Damian @JimDamian]

So that @CountyofKern can become the best place in the State of California to start and grow a business, we are increasing transparency, certainty, and predictability for customers who want to build things. #ChooseKern #EconomicDevelopment

https://t.co/cZRUBL9syO

[Jim Damian @JimDamian]

The County of Kern, California should be the best place in the State to start and grow a business. However, doing so means understanding how dollars flow through our economy. Here’s a sobering fact to consider as we move forward. #economicdevelopment #groundedandboundless

[Jim Damian @JimDamian]

Chambers of Commerce can be an entrepreneur’s best friend. Here are a bunch of amazing chamber leaders from East Kern County.

[Jim Damian @JimDamian]

Let’s go.

[Jim Damian @JimDamian]

Spending 20% of household income 💰 on childcare 🧒 👧 is a problem. There is local focus on helping entrepreneurs open affordable, high-quality, home-based childcare centers 🏡. What’s good for Kern families is good for Kern economic development.

https://t.co/2mrdWS5vPs

[Jim Damian @JimDamian]

Energy week 2023 is off to a great start!! @KGETnews @CountyofKern #economicdevelopment #GroundedandBoundless

https://t.co/NsXzX7Fpyu

[Matt Damian @MattDamian]

Why are "soft costs" so hard...

It happens so often with 🏗️ ground up construction projects 🚧

Borrowers (and sometimes advisors) are shocked 😳 when they see that project costs include so much that isn't just land or building...

"The land is $1 and construction is $3... So WHY is the project $5?!?!"

Here are the main culprits of "soft cost shock", a little insight on what they, are and more importantly, WHY they are!

💸Interest Reserve: While your building is under construction, which may take a year or so, the loan is accruing interest payable each month. Most small business owners can't afford to pay this out of pocket, while still paying for their existing facility. So, the lender will build in an interest reserve to pay for that interest every month which ultimately is added to the loan.

⁉️Contingency: What if you need to make a change mid construction and the costs increase? What if the project takes slightly longer than it should? There are many reasons why you might need a little cushion in budget, and that's what a contingency is for. This is usually 10% of the construction line item.

🏛️Architect & Engineer: Depending on geography, urgency, complexity, or availability these costs can vary widely.

💲Lender Fees: Construction loans have standard real estate loan fees, plus some additional costs to ensure that the project is being handled properly by the GC and subs from start to finish, like a construction project review, construction draws, inspection fees, etc.

🌆City/County/State Fees: Oh yeah, how about permit fees, sewer connection fees, school fees, traffic impact fees, etc.

💰📈Example & Impact (remember I'm in California so this could be less expensive elsewhere):

👉���$300k land cost
👉🏼$1mm construction hard costs
👉🏼$75k interest reserve
👉🏼$100k contingency reserve
👉🏼$40k for architect and engineer
👉🏼$50k for city fees
👉🏼$30k in bank fees

😮 So what we thought might be $1.3mm is actually $1.6mm.

🤔 Will it appraise? Does that change the feasibility of the project?

The bottom line: Make sure you're asking your lender to walk you through the "project costs" as soon as feasible - a good CRE lender can give you rough cost estimates for an entire project just based on a few key variables.

[Matt Damian @MattDamian]

@lawyer4SMBs Something I learned early on as a business broker when sourcing debt, and it's been a guiding principle for me as a lender:

A quick "yes" is great.
A quick "no" is appreciated.
A slow "yes" is frustrating.
A slow "no" is a reputation killer.

[County of Kern @CountyofKern]

If you’re looking for a meaningful career where YOU can make an impact — look no further than joining our team! 💪

Job seekers are invited to attend our upcoming Career Expo on Saturday, September 16, 2023, from 9 a.m. to 1 p.m. at our Kern County Administrative Center at 1115 Truxtun Avenue, Bakersfield, CA, 93301.

Dozens of departments will be on hand recruiting for extra-help and full-time positions, offering on-the-spot interviews, and giving potential hires the opportunity to get to know their teams.

Additionally, @KernCoSheriff will be testing for Deputy Sheriff Trainee and Sheriff Detentions Trainee positions at 9:30 a.m. in the 3rd floor conference room.

To view all Kern County job openings and to apply, please visit https://t.co/sJE9fv67X5.

For more information on this event, visit https://t.co/XZQ4nunJ81