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<br />CityCounncilMMemooranddum <br />TTO: HONORAABLE MAYYOR AND CCITY COUNNCILDATE:March 27, 2012 <br />FFROM: MAYORRRONALDOO. LOVERIDGE AND ITEMNNO: <br />COUNCIMEMBE MIKE GADNER <br />LLRRRR <br />WARD: 1 <br />SSUBJECT: SEIZINGOUR DESTTINY/ECONNOMIC DEEVELOPMEENT ACTIOON PLAN –– ADOPT <br />RESOLUTION IN SPPORTF THE IE HUB <br />UUOO <br />ISUE <br />SS: <br />he issue bfore the ity Counci is whethe to adopt resolutio in suppor of designting an IE <br />TTeeCClrraannttaa <br />ub – a 2,00 acre sakeholdedriven, inovation cmmercialiation distrct encomassing the <br />HH55ttr--nnoozziipp <br />areas of Huter Park and the Kansas Avenu Industrial Park. <br />nneel <br />ECOMMEDATION <br />RRNNSS: <br />hat the Cit Council adopt the atached reslution in spport of dsignatingan IE Hub to promote <br />TTyyttoouuee <br />te area as center fo high-groth busineses and jo creation fr the regin. <br />hharrwwssbboooo <br />BBACKGROUUND <br />: <br />n Januar 5, 2010 the City Councilpproved sponsoship agrement wit Extreme <br />OOyyaaaarreehh <br />ntreprenership to oerate the nnovationEconomynitiative (I Initiative). Developd by local <br />EEuuppIIIIEEee <br />entrepreneur Amro Alanna, th mission f the IE Iitiative is to link unversitiesith private <br />bbeeoonniiww <br />enterprisend create a mechaism in wich underutilized, yt high-potntial assts can be <br />aannhhueeeeee <br />tansformed into profitble compnies through a virtul assembl line wher entrepreeurs have <br />rraaaaaayyeenn <br />access to a set of busiess resouces in cenrally locatd areas. <br />nnrrttee <br />he initiativ is compried of sevral components includingManaged Ventue which tkes ideas <br />TTeesseerrsaa <br />i the form of univerity researh, intelletual proprties and new prodcts and services as <br />nnsscccceeuu <br />vnture target.nothe is IE Conect, a we-based pltform that gives entrpreneursccess to a <br />eeArrnnbbaaeeaa <br />network of ducation and capital ormation rsources tat support the IE Inititive. <br />eeffeehhaa <br />AAnother step in the evvolution ofthe IE Initiative is thhe creationn of the IEE Hub, a 22,500 acre, <br />sakeholdedriven, inovationistrict encompassing the Huner Park nd Kanss Avenue <br />ttr--nnddgttaaaa <br />Inndustrial Paark (Attachmment A). Thhe IE Hub builds on the area’s sstrong histoory of produucing high- <br />growth businesses ad leveraes its existing assts and intellectual apital tocreate an <br />nnggeecc <br />innnovationddistrict that providestthe necesssary resourrces for traansforminginnovativeideas into <br />high-growth businesss. With companie and orgnizationssuch as ourns Inc.,mbryx, <br />eessaaBBA <br />InnnovationEEconomy Corporationand the Inland Empiree Small Business DevvelopmentCCenter, the <br />I Hub is hme to a gowing nuber of resources whch are attractive to tday’s small and mid- <br />EEoormmiiroo <br />sized busineesses. In aaddition to its strategicc location nnear the Unniversity of California, Riverside, <br /> <br />