InSoCal CONNECT announces ‘The Best Kept Secrets in the Country‘

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On November 13th the InSoCal Innovation Assets Report Findings will be unveiled at the 11:00 InSoCal CONNECT press conference attended by over 75 business, civic and governmental leaders at Murrieta City Hall. A complete copy of the report findings is available at http://www.insocalconnect.org/.

On November 13th the InSoCal Innovation Assets Report Findings were unveiled at the InSoCal CONNECT press conference attended by over 75 business, civic and governmental leaders at Murrieta City Hall. A complete copy of the report findings is available at http://www.insocalconnect.org/.

The lead Wall Street Journal editorial on Friday November 9th, regarded California’s business climate with dismay. However InSoCal CONNECT, a newly formed non profit economic development corporation, argues the WSJ editors fail to take into account local pro-business initiatives like the rise of the new InSoCal (Inland Southern California) Innovation Corridor.

Tuesday, November 13th marked the release of the first InSoCal Innovation Assets Report. Modeled after a similar San Diego initiative the report shows that this InSoCal Innovation Corridor region is bucking the trend and working on its own at the local level to help grow the tech eco-system necessary for the expansion of private sector wealth, leading to new job creation.

“Riverside is featured prominently in the study which found that there are numerous assets already in place to help the biotech industry flourish in the region. We believe that this report will help us promote the region and assist us in attracting new technology firms to the area.” said Riverside Economic Development Manager Larry Vaupel.

Stephen Austin, President of the organization, and managing partner of Swenson Advisors said,” InSoCal CONNECT and the Assets Report findings is an excellent story of a region that is not waiting for Washington and Sacramento to create jobs, but working on its own together with private sector, city and university leadership, to help spur sector growth in technology and exports. The report shows we have considerable assets and a robust and active spirit in our technology sector.”

The InSoCal Innovation Corridor includes Murrieta/Temecula on the south and the University of California, Riverside and the City of Riverside on the north. This region was included in the San Diego iHub in 2011 and is now often referred to as part of the greater San Diego Mega Region by the San Diego CONNECT President Camille Sobrian Saltman.

Highlights of the report include:

  •     Approximately 80 new innovation start-up companies emerge each year in the InSoCal Innovation Corridor region? This compares favorably with Seattle, which according SmartPlanet, is the 10th top US start-up city in the US, with 96 start-ups in 2011.
  •     More than 350 new tech start-up companies were launched in the Innovation Corridor region in the past four years. These start-ups are emerging clusters of tech companies in such areas as biotech, software, computer electronics, engineering services, communications and defense.
  •     The region has a global outlook, promoting the growth of exports and foreign direct inward-investment designed to create jobs.
  •     The Innovation Corridor has a skilled workforce. For example, approximately 37 percent of Murrieta/Temecula residents 16-years of age or older have at least an associate or college degree. The City of Riverside has been recognized as the “Most Intelligent Community of 2012” and over 1000 students graduate annually from area colleges and universities.
  •     The InSoCal Innovation Corridor has more the 20 academic research centers and that it is home to the region’s premier research institution, the University of California Riverside. In addition there are a wide range of other universities, including California State University San Marcos in neighboring North San Diego County.
  •     The InSoCal Innovation Corridor is now, functionally, part of the San Diego Mega-Region - which provides opportunities for our businesses to work in close collaboration with a large number of research institutes in San Diego such as Scripps, La Jolla Institute of Allergy and Immunology, and the San Diego Zoo Global Institute.
  •     The Corridor includes the new Loma Linda University Medical Center-Murrieta teaching hospital (first phase complete) and the UCR School of Medicine which just received its accreditation.
  •     The City of Murrieta has rezoned the land adjacent to Loma Linda University Medical Center-Murrieta for “Office-Research Park” development and has prepared the environmental impact report for the privately-owned properties in the area of the City known as the “North Murrieta Technology Corridor”.in order to provide certainty to investors, tech businesses and tech park developers.
  •     The Innovation Corridor includes 4 tech incubators, including the Bourns Tech Center in Riverside, the Innovation Economy Incubator, the Temecula Valley Entrepreneur’s Exchange, and the Murrieta Regional Technology Innovation Center.
  •     There are over a dozen STEM (Science, Technology, Engineering and Math) programs in the InSoCal Innovation Corridor.
  •     There are more than 800 Near-Sourcing Companies in Riverside County which provide access to local talent so that companies do not need to source outside of the area.

Speakers at the event include:
Stephen Austin , Managing Partner Swenson Advisors
Camille Sobrian Saltman, President San Diego CONNECT
Murrieta Mayor Doug McAllister and Mayor pro tem Rick Gibbs
UCR VC Research and Economic Development, Michael Pazzani
Brian Hawley, Chairman Luminex Software, founding member of Riverside Tech CEO Forum
Aaron Schneider, President Helixstrom
Terry Beardley Ph.D. President/CEO T-Cyte Therapeutics
Robin Hillary, LIT Central
Marek Lapinski Tactical 3rd Dimension
Roy Paulson, President Paulson Manufacturing

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Larry Vaupel, Economic Development Manager
Riverside Public Utilities
(951) 826-5403
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