San Mateo, CA (PRWEB) November 15, 2010
The Economic Development Growth Enterprise (The EDGE), the new economic development initiative of the San Mateo Area Chamber of Commerce, announced today that it has secured support and funding from initial charter corporate sponsors. Total funding from these charter sponsors puts The EDGE within striking distance of a $50,000 goal of private funding that will trigger matching funds from the City of San Mateo.
Initial corporate charter sponsors are Salesforce.com, Franklin Templeton, Mills-Peninsula Health Services, Kaiser Permanente, and Glenborough Real Estate.
On Monday, June 21, 2010, the San Mateo City Council unanimously approved $75,000 in initial program funding for The EDGE, along with an additional $50,000 matching commitment contingent upon The EDGE securing $50,000 in sponsorship from the private sector.
The impetus for The EDGE grew from the San Mateo Area Chamber of Commerce's growing recognition that existing economic development resources are strained to their limits while at the same time valuable existing regional business assets throughout the Peninsula of the Bay Area are being underutilized.
"Securing our charter corporate sponsors marks a major milestone for The EDGE, and adds further momentum to this new initiative," said Steve Parker, Executive Director of The EDGE. "These are leading corporations that have made very considered decisions to participate in our program. Like us, they see tremendous value in investing in programs designed to build and maintain the vitality of this regional business community. The EDGE is a unique public-private initiative, and we're committed to our vision of becoming a major engine of economic growth and job creation for years to come."
The EDGE has adopted a three-point agenda derived from the interviews and findings of its invitation-only Business Summit held in March, which attracted 50 regional business executives, entrepreneurs, community leaders and government officials:
- Talent: collaboration with local community colleges on the creation of an Entrepreneurial Leadership Program that marries the schools' curricula, professors, students, and facilities with local existing and early-stage companies and their management teams for training and career enrichment.
- Infrastructure: initial efforts are focused on securing ready access to broadband services throughout the S.F. Peninsula region; supporting smart-growth development to stimulate the right balance of housing options; advocating for appropriate high-speed rail and increased downtown parking.
- Community: discussions are progressing with the city of San Mateo, county commissioners, regional business lobbying groups, the Governor's Office of Economic Development, federal economic growth programs, and angel and venture investment groups, all focused on providing existing and startup companies easier and increased access to a broader and richer array of business-building resources.
About The EDGE
The EDGE is an economic development and growth initiative of the San Mateo Area Chamber of Commerce formed in 2010 to drive the sustained vitality of the mid-San Francisco Peninsula business community. It serves as a dynamic, knowledgeable catalyst that accelerates the growth of existing businesses and the formation of new ones. It fosters collaboration and communication among all constituencies critical to ensuring a vital business community that remains relevant to all businesses throughout the next decade and well beyond. Please visit http://www.theedgesm.org for more information.
About the San Mateo Area Chamber of Commerce
The San Mateo Area Chamber of Commerce is the voice of business in the mid-San Francisco Peninsula. Situated at the crossroads of the Bay Area and at the center of Silicon Valley, San Mateo is home to some of the country's most progressive, innovative companies, from software and clean tech startups to established healthcare and medical device providers to financial institutions and professional service firms. Representing hundreds of member businesses that employ more than 20,000 workers, the San Mateo Area Chamber works for a stable economy and a vital community in the Metro San Mateo region. Please visit http://www.sanmateochamber.org for more information.
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