BUSINESS RETENTION & EXPANSION SUCCESS (AND WHY WE’RE NOT COLD CALLING …)
Aug 28, 2013
Historically, economic development has been synonymous with tempting new businesses to relocate. That’s why it was rather earth-shattering when the Bay Area Council came out with a report last year that concluded that only 2 percent of all new job creation in our region comes from businesses relocating from another city or state. It went on to explain that nearly half of all job creation comes from existing businesses growing and expanding in place. This has forced all cities to ask themselves, “Why have we been devoting so much effort on just 2 percent?”
In Fremont, we are proud to say that we have had a retention-oriented economic development strategy for quite some time with exciting expansion stories to show for it. Many of our largest companies have made the decision to stay, grow and invest right here in Fremont. Active expansion examples include:
Thermo Fisher Scientific – To consolidate and accommodate the growth of its successful Fremont operations, the company is constructing a new 200,000 sq. ft. R&D/manufacturing facility in Warm Springs.
Seagate Technologies – Seagate purchased the state-of-the-art manufacturing facility, formerly owned by Solyndra, where it will expand its existing Fremont operation.
Delta Products – A long-time Fremont business, Delta is completing plans to construct a new LEED Platinum, U.S. headquarters facility in Fremont’s Innovation District.
Men’s Wearhouse – Men’s Wearhouse recently purchased a series of buildings in order to expand its existing corporate headquarters offices in Fremont.
So, what’s the secret?
Well, for one, we’re spending less time on cold calling, and more time understanding our key business sectors. Industry trends are changing faster, and in more complex ways than ever before. We view ourselves as a partner in helping our businesses succeed, whether it’s by guiding them through City permits or connecting them with an investor we encountered at an industry conference. As Dorothy said to Toto, “There’s no place like home.” We intend to continue nurturing this sentiment throughout Fremont’s business landscape.
Welcome to our blog – Takes from Silicon Valley East! Our view is slightly different here on the east side of the bay – from the Mission Peak backdrop to the advanced manufacturing companies that dot our boulevards. As we become more urban and strive to interpret the business issues affecting our innovation economy, we want to share with you our observations, insights, photos, arguments, agreements, inspirations and CEO interviews – and here on our blog is exactly where we plan to do this.
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