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Inland SoCal Link iHubWhat is the InLand SoCal Link iHUB ?
In the Spring of 2010, the State of California launched its new, forward – thinking Innovation Hub
(iHub) program in an effort to harness and enhance California’s Innovative spirit. The iHubs leverage
assets such as research parks, technology incubators, universities and federal laboratories to
provide an innovation platform for startup companies, economic development organizations,
business groups and venture capitalists. The iHub will promote economic development and
innovation based opportunities in the Inland SoCal Link Corridor.
The Port of Los Angeles has joined with the County of Riverside and the County of San Bernardino
to cooperatively promote economic development and attract foreign direct investment for job
creation and retention. The purpose of the Inland Socal Link Ihub is to maximize the opportunities
within the transportation and distribution corridor linking the Los Angeles port gateway with the
Inland Southern California region.
The IHub will promote economic development and innovation based opportunities in the Inland
SoCal Link corridor
It will also boost the area’s effort to create additional programs and institutions that will foster new
research and knowledge centers with a focus on advanced logistics.
These goals include:
• Promotingcollaborationandindustrydevelopmentintheadvancedmanufacturingand
logistics sectors.
• ExpandingthevolumeandvalueofexportsthroughthePortofLosAngelesthatare
manufactured or produced from Inland Southern California.
• Encouragingforeigndirectinvestmentasamechanismforregionaljobcreation.
• Formingasustainableplatformtosupportfederal,stateandlocallegislativemattersthatare
mutually aligned between Inland Southern California and the Port of Los Angeles.
REGIONALLOCATIONOFTHEINLANDSOCALLINKiHUB
INNOVATION HUB PROGRAM
LOS ANGELES
www.portoflosangeles.org/business/trade.asp
RIVERSIDE
www.rivcoeda.org/
SAN BERNARDINO
www.sbcountyadvantage.com
6. LA Business Friendly Incentives and Assistance
• DepartmentofWaterandPowerelectricalratediscountfor
newbusinesses
• SitePlanReviewFeeWaiver
• ReducedParkingRequirements
• BusinessSiteSelectionAssistance
• WorkforceTrainingAssistance
• Mayor’sOfficeofInternationalTradeassistsforeign
companiesinterestedinlocatinglocally
Size and Reach
• LACountyhasapopulationof10millionwhichislargerthan
manyStateswitharichdiversitywhichissecondtonone.
• LAhasa$670billionGDP(19thlargestworldwide)whichis
largerthanBelgium,SaudiArabia,NorwayorTaiwan.
• Thereisalargeconsumerbaseintheregionwhichconsumes
morethanhalfofallgoodsimportedthroughtheLACustoms
District.
• LACountyhasthelargestmanufacturingbaseintheU.S.
• LAhasadiversedemographic(46%areforeignborn):96
languagesspoken,49foreignlanguagepublicationsand
hundredsofforeignlanguageradioandTVstations.
• Outsideoftheircountriesoforigin,LAishometotheworld’s
largestcommunitiesofKoreans,Armenians,Persians,Filipinos,
Japanese,MexicansandSalvadorians.
• LAisaworldleaderinaerospace,cleantechnology,
entertainment,fashion,healthcareandtourism.
Where East Meets West and North Meets South
Trade and Transportation Advantages:
• USCustomsDistrictisthelargestinthenationwitharecord
$414billionoftradein2013
• 1.7billionsq.ft.ofwarehousinganddistributionfacilitieswithin
theregion
• Talentedandskilledprofessionalswithmulti–languageand
multi–culturalexperience
Port
• ForeignTradeZone202servesourregion,includingLosAngeles,
Riverside,SanBernardinoandOrangeCounties.
• 100trainsperdaytoandfromtheportcomplexviatheAlameda
Corridor,thebusiestfreightcorridorinthenation
• 80+weeklysailingstoandfromthePacificRim
• Widestvarietyofdestinationports
• 53’deepdraftwaterwaystoaccommodatetheworld’slargest
ships
• Ondockandneardockrailfacilitiesfortrainstoandfrom14
keyU.S.markets
• TradeConnectprogrameducatesbusinessesonhowtoexport
• PortTechLAisamaritimetechnologyandbusinessincubator
Airport
• LAWAhasmorethan1000flightsperdaywithcargocapacity
• Theworld’s6thlargestAirportlinkingLosAngelestoevery
corneroftheworld
• LAXishometoa12,700sq.ft.refrigerationfacility,thelargest
ofanyWestCoastairport
Economic Development Advantages – Los Angeles
ThesizeofLosAngeles’markets,transportationaccesstothe
world,thebreadthofresources,qualityoftheregion’slaborpool
andthegreatclimate–thesearejustsomeofthereasonswhy
businessesofallkindscomehere,stayhereandthrive.
LA’seconomicstrengthsstemfromnumerousfactors,including
theexplosivegrowthofinternationaltradebetweentheUSand
Asia,makingthisAmerica’s#1GatewaytothePacificRimandthe
globaleconomy.
The Case for LA
1. Access to Markets
• Verylargelocalconsumermarket
• QuickaccesstonorthernCaliforniaandthesouthwesternUS
• BestaccesstoUSandinternationalmarkets
2. R & D Expertise
• Worldclassuniversities,thinktanksandresearchlabs
• Internationalcreativeanddesigncenters
3. Access to Workforce
• Largeanddiverselaborpool
• Talented,well-educatedandmulti–lingualprofessionals
• Governmentfundedtrainingprograms
4. Extensive Transportation Network
• LargestPortintheWesternHemisphere
• World’s6thlargestAirport
• Extensiverailsystemandhighwaysystem
5. Diverse Industry Clusters
• Aerospace
• ArchitectureandEngineering
• AutomotiveDesignandWholesaling
• Education
• Entertainment
• EnvironmentalSciencesandManagement
• FashionandAccessories
• FinancialServices
• FoodandBeverageProductsandServices
• FurnitureandHomeFurnishings
• Health,MedicalandDentalServices
• Jewelry
• TourismandHospitality
• Toys
Export-Import Bank (Ex-Im Bank) of the United States
RiversideCountyisanExclusiveAgentandhasapartnershipwiththeEx-ImBankoftheUnitedStates.Together,weprovideexportunderwriting,linesofcredit,insuranceservicesandloanguaranteesforRiversideCountybusinessesthatexporttoover180countriesaroundtheworld.In2013,RiversideCountyandtheEx-ImBankprovided$110millioninloansandotherassistancetodozensofsmallbusinessesinRiversideCountyandits28cities.
EB-5 Program
RiversideCountyisthenation’sleaderinEB-5RegionalCentersandinternationalinvestment.DollarsfrominternationalinvestorsthroughtheEB-5programhaveanattachedrequirementtocreatetenU.S.Jobsforeveryhalfmillioninvestedinregionswithhighunemployment,likepartsofRiversideCounty.FortheinternationalinvestortheEB-5programprovidesWorkVisasfortheinvestorandhis/herimmediatefamily.EachapplicantisfullyvettedbyHomelandSecuritybeforeaVisaisissued.
TheEB-5regionalcentersinRiversideCountyhadlittletroublefindingwillinginvestorstolendmoneyforbuildingprojectslikearesortprojectinPalmDesert,amedicalclinicinMurrieta,a300bedandboardcarefacilityinMorenoValleyandanofficebuildinginTemecula.Internationalinvestorshavepumpedanestimated$1.8billionintoourRegionalCentersinRiversideCountysince2009,andwehavethedistinctionofhostingmoreEB-5RegionalCentersthan49states.
Riverside County EDA/Workforce Development Division Business Resource Programs
EDA/WDDprogramscanassistwithhiringandtrainingnewemployees,aswellascustomizedprogramstomeetyourworkforceneeds.
Access to rail connections, major trucking routes, modern spaces and lower costs for regional distribution and warehouse centers
TheCounty’slocal,regional,andnationalaccessishighlightedbyitsstrategicpositioningasagatewayofkeyinterstatehighways(I-10,I-15,I-215)andanetworkofstatehighways(SR-91,SR-60).
ThebusiestrailcorridorsintheU.S.runthroughtheCounty,featuringrailservicefromUnionPacificandBNSF.TheseraillinesconnecttheportsofLosAngeles/LongBeachwithdestinationseastoftheRockiesprovidingevenmorereasonthattheCountyisagreatlocationforU.S.regionaldistributioncenters.
TheCountyanditsbusinessesalsobenefitfromthreelargeairportswithsparecapacityandavailablespacenearbyLA/OntarioInternationalAirport(ONT);PalmSpringsInternationalAirport(PSP);andMarchAirReserveBase/GlobalPort. ONTandPSParefull-serviceairportswithcommercialpassengerservicetomajorU.S.citiesandinternationaldestinations.ONTisalsoamajorcargoairportandservesastheUPSWestCoastairhub.
Current available industrial, retail and office space (as of Dec 2013):
Sector ExistingSF TotalAvailableSF 1YearDeliveries VacancyRate RentperSF
Industrial 176,750,415 18,947,762 1,158,550 5.9% $0.47
Office 33,111,075 5,118,057 41,623 11.6% $1.66
Retail 98,750,492 10,952,716 261,988 8.7% $1.35
Demographics and Other Data
Geographicareacoversover7,300squaremiles
Askilledandabundantworkforceof939,300
Morethan20universitiesandcolleges
2011GDPof52billionwithaccessto23millionwithina3-hourdrive
2013Populationof2,265,252
Medianageof33.9
Medianhomevalueof$275,000(Nov.2013)
2013Medianhouseholdincomeof$57,777
2018Projectedmedianhouseholdincomeof$68,161
Economic Development Assets – Riverside County
Office of Foreign Trade
RiversideCountyEDAmanagesCalifornia’sonlyfulltimeOfficeof
ForeignTrade(OFT).TheOFThashelpedthousandsofbusiness
clientsfromaroundtheglobewithexclusiveservicesforthe
internationalinvestor,importers,exporters,academics,and
researchers.Since2009,theOFThasassistedinthecreationof
billionsofdollarsininvestmentandthousandsinnewjobcreation.
BilateralTradeAgreementshavebeenexecutedwiththenationsof
Canada,JapanandCroatia.RiversideCountyistheUnitedStates’
firstcountytoapprovebilateraltradeagreementsthatleadtotwo
waytradeandinvestmentresultinginmutualbenefittoallparties.
There are four Foreign Trade Zone (FTZ) designations in
Riverside County and more on the way:
RiversideCountyOfficeofForeignTradewassuccessfulthisyearin
expandingthefollowingForeignTradeZones:
• FTZ#153,toincludethecitiesofMurrietaandTemecula,
• FTZ#202,whereRiversideCountyhostssite20,including
companiessuchasKwikset,Black&Decker,Komarand
Quicksilver,
• FTZ#244,toincludethecitiesofCorona,Eastvale,Jurupa,
MorenoValley,Norco,Perris,Riversideandsurrounding
unincorporatedareas,andtheongoingefforttoexpandthe
• FTZ#236,whichnowcoversthePalmSpringsAirport,tointhe
future,includetheCitiesoftheCoachellaValley,Hemet,San
JacintoandCityofBanning.
Recycling Market Development Zone (RMDZ)
TheRiversideCountyRecyclingMarketDevelopmentZonestrivesto
attractbusinessesusingrecycledmaterialsintheirmanufacturing
process.Thestatehasestablishedalow-interestraterevolving
loanfundwhichmaybeusedforlandacquisition,leasehold
improvements,equipmentpurchases,andworkingcapitalforupto
75percentoftheprojectcosttoamaximumof$2million.
Fast Track Permit Processing
UnderthedirectionoftheBoardofSupervisorsandExecutiveOffice
andwiththesupportandpartnershipoftheCounty’sdevelopment
reviewdepartments,EDAisabletoreducethetime-to-marketfor
customersintheprogram.Thisisanimportantbenefittoreducing
thetime-to-marketandcostsassociatedwithdevelopmentand
permitting.
Industrial Development Bonds
EDAprovidestax-exemptIndustrialDevelopmentBond(IDB)
financingtomanufacturingbusinesses.IDBsaretax-exempt
securitiesissuedbyagovernmententitythatprovidesmoney
fortheacquisition,construction,rehabilitationandequippingof
manufacturingandprocessingfacilitiesforprivatecompanies.
• EmployerIncentivesassisttheemployerstofindoutifthebusinessqualifiesforlocal,state,orfederalincentives,suchasWorkOpportunityTaxCredits.
• EducationalServicesprovideinformationonsuitabletrainingoreducationalprogramstoassistemployer’sworkforceneeds,andinformationonlocaltrainingprovidersandschools.
• AdditionalServicesincludeprovidinginformationonHR-relatedtopics,EqualEmploymentOpportunitytopics,andresourcestoaccesslaborrelationslaws,practicesandissues.
Access to rail connections, major trucking routes, modern spaces and lower costs for regional distribution and warehouse centers
BillionsofdollarsarebeinginvestedintothelocaltransportationcorridorsofSanBernardinoCounty.TheCounty’slocal,regional,andnationalaccessishighlightedbyitsstrategicpositioningasagatewayofkeyinterstatehighways(I-10,I-15,andI-40).ThisinfrastructureassetmakesthisCountyaperfectlocationforawesternU.S.regionaldistributioncenterfornationalbrands.
ThebusiestrailcorridorsintheU.S.runthroughtheCounty,featuringrailservicefromUnionPacificandBNSF.TheseraillinesconnecttheportsofLosAngeles/LongBeachwithdestinationseastoftheRockiesprovidingevenmorereasonthattheCountyisagreatlocationforU.S.regionaldistributioncenters.
Theregionisthenation’sleadinglogistics,warehouse,anddistributionmarketforamultitudeofFortune500firmsthankstoalocationofapproximately40milesfromtheseaportsofLosAngeles/LongBeach,whichareknownasthenation’sbusiestandamongthemostbustlingintheworld.
TheCountyanditsbusinessesalsobenefitfromthreelargeairportswithsparecapacityandavailablespacenearbyLA/OntarioInternationalAirport(ONT);SanBernardinoInternationalAirport(SBIA);andSouthernCaliforniaLogisticsAirport(SCLA).ONTisamedium-hub,full-serviceairportwithcommercialpassengerservicetomajorU.S.cities.ONTisalsoamajorcargoairportandservesastheUPSWestCoastairhub.There are three Foreign Trade Zone (FTZ) designations in San Bernardino County:
• FTZ#50coverstheSanBernardinoInternationalAirportandportionsofSanBernardino,LosAngelesandOrangeCounties.
• FTZ#202coversaportionofSanBernardino,Riverside,LosAngeles,andOrangeCounties.
• FTZ#243coverstheSouthernCaliforniaLogisticsAirportandvarioussitesinthecitiesofOntario,Chino,andRialto.
There are four Recycling Market Development Zones (RMDZ) in San Bernardino County:
• SanBernardinoCountyZone.IncludesthecitiesofColton,Montclair,Ontario,RanchoCucamonga,Rialto,SanBernardino,Yucaipa,andadjacentunincorporatedcommunities.
• ChinoValleyZone.Includestheindustrial-zonedareasofthecitiesofChinoandChinoHills.
• HighDesertZone.IncludesthefivemunicipalitiesofAppleValley,Barstow,TwentyninePalms,Victorville,andYuccaValley.
• HesperiaZone.IncludesthecityofHesperia.
EB-5 Visa Program availability at regionalized local EB-5 centers
AsanincentivetoinvestingwithintheCountyandtheAmericaneconomyingeneral,foreignnationalsmayreceivepermanentresidentstatusthroughqualifiedinvestmentsinnewcommercialenterprises.AforeignnationalmayobtainanEB-5VisathroughtheU.S.CitizenshipandImmigrationServicesafteraqualified
investmentofatleast$1,000,000;or,$500,000,andcreationofaminimumof10jobs,ifinvestedinadesignatedRegionalCenter.
Site Selection Assistance, Custom Site Tours & Community Introductions
AnimportantconciergelevelserviceSanBernardinoCountyEconomicDevelopmentAgencyprovidesiscustomizedsiteselectiontailoredtoabusinessprospect’sneeds.Ifdesired,atourofthecountyandbuildings/propertiesisprovidedinordertofacilitateselectionoftheappropriatesite.Introductionsareprovidedtolandowners,developers,brokers,andcityrepresentativesasneeded.Businesstobusinessmeetingsarearrangedasneededifdesired.
Business Assistance Programs
TheWorkforceDevelopmentDepartmentprogramscanassistwithhiringandtrainingnewemployees,aswellasdevelopcustomizedprogramstomeetyourcurrentworkforceneeds.Servicesincludeworkerrecruitmentandadvertising,taxcreditverificationforhiredapplicants,andspacetoconductinterviews.Servicesinclude:
• Recruitmentservicestopostjobopenings,findqualifiedcandidates,andaccessavarietyofinformationdesignedtohelpabusinesssucceed.
• LaborMarketInformationservicesprovideaccesstoinformationaboutlabormarkettrends,statistics,andeconomicanddemographicdata.
Millions of square feet of new office, industrial and commercial development real estate
DeveloperswithinvestmentsandassetsincludeMajesticRealty;Hillwood;DCTIndustrial;Alere;Panattoni,andmanyothers.Currentavailableindustrial,retailandofficespace(asofDec2013):
Industry ExistingSF TotalSFAvailable 12Month Deliveries
VacancyRate RentperSF
Industrial 329,552,986 26,047,850 5,755,140 4.9% $0.40
Retail 89,168,709 10,425,582 362,722 8.8% $1.26
Office 37,544,582 5,732,290 98,898 12.5% $1.50 Demographics and Other Data:
Geographicareacoversover20,000squaremilesAverages340daysofsunshineayearAskilledandabundantworkforceofover900,00024citiesand60unincorporatedareasMorethan20universitiesandcollegesA$1trillionlocalGDPwithaccessto23millionwithina3-hourdriveCloseproximitytoseaportsofLosAngelesandLongBeach(approx.80milestoCountyseat)HometoanationallyrecognizedentrepreneurshipprogramatCaliforniaStateUniversitySanBernardinoPopulationover2millionMedianageof31.6Medianhomevalueof$224,500Medianhouseholdincomeof$53,4962015projectedmedianhouseholdincomeof$60,971
Notes
CALIFORNIAINNOVATION
WORK@
FormoreinformationoniHubs,visitourwebsite:http://bit.ly/[email protected]
Riverside County http://www.rivcoeda.org/
San Bernardino County http://www.sbcountyadvantage.com/
Port of Los Angeles http://www.portoflosangeles.org/business/trade.asp
City of Los Angeles, Mayor’s Office of International Trade http://www.losangelesworks.org/internationalBusiness/