2018 BAILEY STATE OF THE CITY ADDRESS

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2. SolarMax is creating a renewable energy eco -system by attracting and housing companies like Sunspark in the historic FMC building by the Metrolink Station, where the famed water buffalo tanks were manufactured during World War II. 3. La Sierra Metrolink Transit -Oriented Development, otherwise known as Metro Gateway, provides 187 new apartments co -located to the train station, where thousands of cars are taken off the freeway by mass transit commuters each year. 4. Imperial Lofts, Stalder Plaza, Mission Lofts, Mission Heritage Plaza and Food Lab -- all Downtown projects that feature retail and living spaces, and all of them are walking distance to over 50,000 jobs in Riverside's urban core. Last year alone, our city saw a 19% increase in development valuation. That's $330 million dollars infused into our economy because we are more than open for business -- we are business bound. In fact, our One Stop Shop serviced 22,000 customers in the first six months. That's a customer every 3 minutes! Beyond that, the service rating was 95% positive -- that's 20,900 smiling customers -- and the value of commercial construction has increased by 150 percent in the last two years. When investors are deciding where to put their money, streamlined processes matter. So, congratulations and gratitude to the incredible cross -department staff that created and implemented the One Stop Shop, a best practice for local governments. The next phase of Streamline Riverside focuses on facilitating development by giving builders better tools to start and finish their projects. Think technology upgrades and general plan updates, so building inspectors can use their smartphones to document inspections and planners can issue permits without variances and amendments. The bottom line with our One Stop Shop is that Riverside will be the fastest and most convenient city to start and build your business. This effort will be even more important as we see high-tech companies come to Riverside to build off of synergies with the Air Resources Board. The entrepreneurial ecosystem is alive and well in Riverside Thanks in large part to our higher education institutions, we are known as the #4 destination for minority entrepreneurs, and the #1 destination for millennials in the entire country. Other communities struggle to attract millennials or lack diversity in their business ranks. Not so in Riverside. Some examples of success are found at La Sierra University's annual TEDx event, where local entrepreneurs share their stories and their recipes for taking an idea to market, such as Mike Wogu, who turned his travel experiences in China into a boutique line of travel goods called MBARQGO. His products have been seen on the likes of T -Pain, Nicki Minaj, Scooter Braun, and Travie McCoy to name a few. And it all started at La Sierra University and through relationships he established where? Here in Riverside! UCR's Highlander Venture Fund is raising $10 million dollars dedicated to investing in high tech, high-growth businesses in our region. The collaborative project between the City, County, and UCR known as the ExCITE Incubator, led by the talented Taj Eldridge, has successfully Page 3of9