 The town's second weekly newspaper, the "Taft Independent", began publication on July 4, 2006.The city, which has experienced the ups and downs of the boom and bust cycle of the oil industry, has recently experienced new development and business growth with the opening of a three-story, 70-room Taft Inn Best Western Plus Hotel, the opening of a craft brewery, Black Gold Brewing Company, in the historic downtown on Center Street, the reopening of the historic Taft Fox Theater, the opening of The Bank, a bar and grill in the historic Taft State Bank Building, a new Taco Bell restaurant and many more "mom and pop" small businesses.The city owns a 46-acre former BNSF railroad property in the center of town which features the West Kern Oilworker's Monument, a tall world-class all bronze sculpture that features several human figures displayed on an oil derrick by artist Benjamin Victor that was paid for with donations from local residents, visitors and several oil companies.