Snapshot

On February 27, 2024, the Santa Cruz City Council convened to review a proposition that would allow Joby Aviation to receive a forgivable loan of up to $500,000. This initiative essentially allocates $2,000 for every new full-time job created. The aim is to boost employment, stimulate economic development, and promote sustainability within our community. The proposal was approved with a vote of 6 to 1.

Thank You Santa Cruz City Council

In a heartfelt tribute to the vision and commitment of both Joby Aviation, Inc. (“Joby”) and the Santa Cruz City Council, it's impossible not to feel a deep sense of gratitude for a recent decision that promises to significantly shape the future of our community. The City Council's approval, by a 6 to 1 vote, to authorize the City Manager to execute an Employment Incentive Loan Agreement with Joby Aero, Inc. is a testament to the power of innovative thinking and collaboration in fostering economic growth and sustainability.

For those who may not be familiar, Joby. is at the forefront of aeronautical technology, developing an all-electric aircraft that has the potential to revolutionize how we connect with the world around us. Their mission—to deliver clean, quiet aerial transportation—resonates deeply with Santa Cruz's values of innovation, environmental stewardship, social equity, and community well-being. This $500,000 loan agreement is not just a financial transaction; it's an investment in our collective future, demonstrating a commitment to clean technology, job creation, and the economic diversification of our city.

The background of Joby's work is as inspiring as it is ambitious. With over 1,000 test flights demonstrating the capabilities of their all-electric aircraft, Joby is paving the way for a future where travel is not only faster and more efficient but also environmentally sustainable. Their vision of operating aircraft for journeys of 5 to 100 miles offers a glimpse into a future where our skies are not filled with noise and pollution, but with the quiet hum of electric propulsion, connecting cities and their surrounding areas like never before. And while their first aircrafts are for 4 persons at a fare rate of an Uber Black, Joby’s research with hydrogen promises to make larger aircraft affordable for all.

This loan agreement is a critical step in bringing that future to fruition. By providing financial assistance for the purchase and acquisition of crucial equipment, Santa Cruz is playing a pivotal role in ensuring that Joby can continue to innovate and expand. It's a partnership that goes beyond the monetary; it's a shared belief in the potential of technology to improve lives, reduce our environmental footprint, and create a more connected world.

Choose Santa Cruz

Moreover, the implications of this agreement for our local economy cannot be overstated. We've briefly celebrated the origins of industry giants such as Netflix, Seagate, and Plantronics within our community, only to watch them relocate, taking their economic contributions with them. This pattern, a stark reminder of our potential, underscores the urgency of fostering and retaining such innovative forces locally.

With Joby establishing its employment center right here in Santa Cruz, we're not just talking about the creation of high-quality jobs in a cutting-edge industry. We're talking about the kind of economic transformation that comes from being at the center of technological innovation. The potential for local job creation and retention, stimulated by Joby's expansion, aligns perfectly with our city's Economic Development Strategy goals and our commitment to supporting growth in technology companies focused on innovation.

The environmental and health impacts of this partnership are equally worth celebrating. By investing in sustainable mobility solutions, we're taking a significant step towards reducing CO2 emissions and addressing the dual challenges of congestion and climate change. This aligns with our "Health in All Policies" approach, ensuring that our economic development efforts also contribute to the well-being and health equity of our community.

Conclusion

This Employment Incentive Loan Agreement between the City of Santa Cruz and Joby , Inc. represents more than just a financial boost for a promising company. It's a symbol of our city's commitment to innovation, sustainability, and the health and prosperity of our community. As residents of Santa Cruz, we have every reason to be grateful for and proud of this initiative. It not only promises to bring about economic and environmental benefits but also positions our city at the forefront of a new era in transportation. To the Santa Cruz City Council, Joby Aero, Inc., and all those who played a role in making this agreement a reality, our heartfelt thanks. Your vision and dedication are truly making a difference for our city and for the future of transportation.