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On Friday, October 10, 2008, East Bay EDA and StopWaste.Org will partner to honor Alameda County businesses pursuing sustainable business practices at their annual recognition event. This year’s theme is: Growing the Green Economy: Accessing Natural Capital. The program features a keynote speaker, Rose Tocke, from the Biomimicry Guild and moderator, Mike Consol, from the East Bay Business Times. Ms. Tocke will provide attendees with a wealth of insights about modeling businesses based upon natural systems. The event will be held at the Calvin Simmons Ballroom at the Oakland Marriott – City Center, 7:30 to 10am. There is no cost to attend this event, but seating is limited – register today!
Join East Bay EDA, the Tri-Valley Business
Council, and the Contra Costa Council,
September 4, 2008 at the Alameda County
Conference Center for a panel discussion on
the alignment of workforce development and
education.
As knowledge grows exponentially and new products and services are introduced to the market at Internet speed, there is little disagreement that the viability of the Bay Area’s regional economy depends on the quality of our workforce. In the second quarter of 2008 the East Bay received $598.1 million in venture capital, the equivalent of third place in the country behind Silicon Valley and New England.
Seating is limited - register today!
At their August 7th meeting, East Bay EDA's Executive Committee moved to support near term/emergency Delta projects to reduce the risk of floods, provide benefits to fisheries and improve water supply reliability and quality. Paul Piraino, of the Alameda County Water District and Chair of the California Urban Water Agencies Board, gave a brief presentation on near-term Delta Actions while Linda Best, President and CEO of the Contra Costa Council, updated members on the status of the State’s Delta Vision Blue Ribbon Task Force. The Committee also endorsed the East Bay Regional Park District Measure AA bond extension, to preserve future open space and enhance the quality of life for East Bay residents.
During the first half of 2008 the East Bay continued to perform as one of the nation’s major centers for alternative energy research and development. Following the $920 million invested last year in the East Bay’s EBI and JBEI projects for biofuels R&D, the first half of 2008 saw two significant venture capital investments in East Bay solar energy companies. As a result, the total amount of venture capital going to East Bay companies during the first half of 2008 rose to $916.7 million, representing a $254 million, or 38.3% net increase over the first half of 2007.
Accounting for $247 million of that increase were two second quarter solar investments – the first a $132 million investment in Hayward’s Optisolar, a manufacturer of solar modules and the manager of large-scale solar farms, and the second, a $115 million investment in Oakland’s BrightSource
Energy,
a
company
that
designs
and
builds
large
scale
solar
thermal
plants. During
the
first
half of
2008
there
were
also
five
other
East Bay
energy
companies
receiving
a total
of $51.5
million
of VC
backing.
Thanks to the Optisolar and BrightSource
deals, the
East Bay
distinguished
itself in
three other ways. First,
According to
the San Jose
Mercury News
these
investments
were the
largest in
the State
during the
second
quarter.
Second, the “Industrial/Energy” category in the first half of 2008 was up an amazing 284% over the same period in 2007. This made it the largest category of venture investment in the East Bay, moving it up from third
last year.
Third, those two investments pushed the total East Bay second quarter venture capital amount to $598.1 million dollars – an amount that is higher than the amounts received by 16 of the 18 U.S. regions officially tracked by the PricewaterhouseCoopers MoneyTree venture capital report based on data provided by Thomson Financial. Only “Silicon Valley” and “New England” received larger amounts.
Also growing in the first half of the year were “IT Services”, up 192.4% and “Computers and Peripherals,” up an amazing 986.5%. However, since each received less than $5 million during the first half of last year, the dollar increases were less significant than the increase for “Industrial/Energy.”
Somewhat surprisingly two categories depressing the East Bay’s total were two life science categories that have been high flyers, “Biotechnology,” down $61.2 million or 38.4%, and “Medical Devices and Instruments” down $20.8 million, or 11.5%. Also depressing the total were “Semiconductors,” down $31.3 million or 60.4% (nationally still #1 but declining across the country as well) and “Telecommunications,” down $50.1 million or 100% after receiving no VC backing at all in the first half of 2008.
Overall, the first half showed that investors still have faith in East Bay innovation, but the weak IPO market could affect the enthusiasm for future venture investments throughout the country.
East Bay EDA Staff released a year-end report of organizational accomplishments for the past fiscal year (July 1, 2007 – June 30, 2008) at the August 7th Executive Committee meeting. The report highlighted East Bay EDA's
involvement in:
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-Serving over 260 clients interested in expansion, information, new business prospects and retention in the East Bay;
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-Successfully advocating for $825 million in investment from the California Transportation Commission to improve Northern California in goods movement corridors and over $25 million from the California Air Resources Board for community mitigation;
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-Co-authoring the 2007 East Bay Indicators report with the United Way of the Bay Area;
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-Co-founding the Bay Area Industrial Roundtable to promote the preservation of industrial property in the East Bay;
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-Organizing three industry roundtables in manufacturing, banking and local
government to assist Cal State East Bay in addressing workforce development
through their curriculum master plan;
-
-Hosting work sessions to discuss the East Bay’s foreclosure issues and highlight local government best practices.
Download Accomplishments Report.
The East Bay EDA will have a booth at the BIOMEDevice 2008 tradeshow, September 10-11, at the Santa Clara Convention Center in San Jose.
This relatively new medical manufacturing, biotechnology, and pharmaceutical show for Northern California brings together thousands of new medical OEM decision-makers plus hundreds of biopharmaceutical manufacturing executives from these dynamic new sectors.
All East Bay EDA City and “business resource” members are welcome to participate at no charge, by helping to staff the booth for a two hour shift. You are strongly encouraged to allow for at least two extra hours to contact other exhibitors in the exhibit hall as this is a very efficient way of connecting with businesses that constitute a very strong and important cluster for the East Bay.
BIOMEDevice showcases the latest advances in
medical grade materials, assembly and electronic
components, computer-aided design and
manufacturing, automation/robotics, packaging
materials and machinery, medical device software
and validation solutions, enterprise-wide IT,
sterilization systems, and a full range of
contract service providers. It really is amazing
just to walk through the exhibit hall and see
these new technologies and products.
All East Bay EDA City and “business resource”
members are welcome to participate at no charge,
by helping to staff the booth for a two hour
shift. You are strongly encouraged to allow for
at least two extra hours to contact other
exhibitors in the exhibit hall as this is a very
efficient way of connecting with businesses that
constitute a very strong and important cluster
for the East Bay.
To sign up to be in the East Bay EDA booth, add
your name and shift to the booth schedule, and
fax or email it in.
IDB interest rates have been trending down again, averaging only 1.85% for the last three months and there is plenty of allocation available! But the window to obtain IDB financing in 2008 is starting to close – the final month for 2008 applications and allocation is October and it takes at least one month and a half months to complete the steps send one in. View a comparative interest rate trend chart and additional IDB information. We will soon be sending information through the mail to those businesses who have expressed an interest in the program. Please contact Keith Sutton at (510) 272-3885 for more information.
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