First District Update_Feb 2020

ECONOMIC DEVELOPMENT DIVISION

General Updates

• Meeting for Innovation Month discussion and planning of activities in the Coachella Valley held on January 28, 2020 in Palm Desert with economic developers from Valley Cities, Conventions and Visitor’s Bureau, CVEP, and Greater Coachella Valley Chamber of Commerce. • ED Team provided technical assistance to Steve Solari, Hospitality Development Company who is working with investor group on potential boutique hotel in Vista Santa Rosa. Zoning information along with Fast Track program information was provided. • EDA Team provided technical assistance to Frank Goodyear, an out of town broker assisting a client with site selection for manufacturing company wanting to relocate from overseas. • Trammel Crow announced that Sam’s Club will be occupying an almost 800,000 sq. ft. industrial facility at their Knox II Industrial building in the Mead Valley Industrial area. EDA’s support of this attraction effort was “instrumental” in landing this project. Sam’s will employ approximately 500 people at the new facility. ED and Workforce teams will partner with Trammel Crow on a job fair(s) to assist with hiring and training. • EDA hosted two Opportunity Zone events on January 21, 2020 with speakers from Kosmont and Associates and Blake Christian, a Certified Public Accountant. Both firms have expertise in Opportunity Zone matters. The event provided updates on the final regulations which were issued at the end of December 2019 and in-depth information about potential investment deal structures, and how communities can take advantage of this tool to further economic development. Next steps include: o Developing a framework whereby certain projects in unincorporated Opportunity Zone communities will receive expedited entitlements and permitting. o Continue developing an inventory of projects throughout the county that will be matched with Qualified Opportunity Funds. • Held a promotional lunch event for ExCITE based start-up company, Foodnome, for their home cook showcase to be held in the Courtyard of Riverside Center. • Assisted Damon Carson of repurposed MATERIALS with site selection options for his repurposing business that he is interested in expanding to Riverside County. • Connected Jeremiah Goldenetz of Capstone Partners with Economic Development information and events including the upcoming Opportunity Zone conferences. • Helped Cheryl Bucsit of CMB Squared Inc. She needed help finding a document from either her landlord or the County Recorder office. Helped her connect with the Recorder office. • Held two training classes for the SBDC; “Demystifying Business Expenses” and “How to Start a Small Business.” Each class had over 20 attendees.

Riverside Business Center