BUSINESS RETENTION & EXPANSION SUCCESS (AND WHY WE’RE NOT COLD CALLING …)
Thermo Fisher Scientific’s new 200,000 sq.ft. R&D/Manufacturing facility in Warm Springs is underway.
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?”
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
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?
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.