Ahead of the Curve
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ADVERTISING SUPPLEMENT JULY 27, 2018 On Board for Innovation: Les Schmidt, left, is CEO and founder of the Bishop Ranch Innovation Intelligence Accelerator. He is with Alex Mehran Jr., President and COO of Sunset Development, developers of Bishop Ranch, on one of the autonomous buses that serve the complex. TRI-VALLEY Ahead of the curve Phil Wente, Dale Eldridge Kay, Tim Harkness Brian Won Bin Lee, Winegrower, Wente Family Estates CEO, Innovation Tri-Valley Leadership Group Founder, Unchained Labs Student entrepreneur SPONSORS A Sunset Development Project 2 ADVERTISING SUPPLEMENT TRI-VALLEY | AHEAD OF THE CURVE SAN FRANCISCO BUSINESS TIMES A relationship aged to perfection. Celebrating over 50 years in the Tri-Valley. Fremont Bank is uniquely positioned as the only independent, locally Proud to offer 5 convenient owned, full-service community bank in the San Francisco Bay Area. Tri-Valley locations: From our 50 plus years of partnering with our Tri-Valley communities, Pleasanton Branch to offering unprecedented access to local decision makers who Livermore Branch understand your goals, Fremont Bank is proud to be the Tri-Valley’s San Ramon Branch trusted financial partner. Danville Branch Dublin Branch Call or stop by one of our Tri-Valley Branches to experience The Bay Area’s Premier Community Bank for yourself. (800) 359-BANK (2265) | www.fremontbank.com Equal Housing Lender | Member FDIC | NMLS #478471 | PR-1014-0718 JULY 27, 2018 TRI-VALLEY | AHEAD OF THE CURVE ADVERTISING SUPPLEMENT 3 THE TRI-VALLEY What is the 101 880 REGION 580 Tri-Valley? 680 Danville he Tri-Valley is a quintet of cities in Northern California lo- San Ramon cated in the eastern Bay Area, centered around the conver- gence of Interstates 580 and 680. San Ramon, Danville, Dub- San T Francisco Oakland Dublin 580 lin, Livermore and Pleasanton are the interconnected communities that make up the rising region and give it its unique flavor along Livermore Pleasanton with its strong sense of purpose. 880 If there’s one thing that animates the Tri-Valley it’s the unique combination of public and private forces that drive its growth. The region is a spectacular example of a group effort, and that’s San Jose visible in each and every segment of the area. 101 The innovation economy in the Tri-Valley is a large part of the 680 region’s $42 billion-dollar GDP, and it’s an engine of talent gener- ation that starts with regional assets, like the National Labs, and offers the assistance of incubators like The Switch, and VC firms like Tri-Valley Ventures, to truly unlock the ideas of a population in which 26 percent of adults have master’s degrees. It’s no wonder, then, that the trend of people living in the The region rounds itself out with a broad array of leisure and Tri-Valley and commuting to the bay is seeing a rapid reversal. entertainment options. Wine, beer, bike and even ice cream trails Business and people are choosing to make the reverse commute wind their way through world-class restaurants and shops, each because they want to be in a place with all of the optimistic cre- city offering its numerous ways to enjoy yourself. ativity of a San Francisco or a Silicon Valley, but populated with And even with its world-class theater, festivals and other attrac- practical people who want to build that creativity into something tions, the Tri-Valley offers housing at more affordable rates, when great for the community. compared to the rest of the Bay Area. Welcome to the Tri-Valley! Tri Valley – Ahead of the Curve – stories by Aaron Welch and Mitchell Kernot; cover photo by Paolo Vescia; graphic design by Carol Collier 4 ADVERTISING SUPPLEMENT TRI-VALLEY | AHEAD OF THE CURVE SAN FRANCISCO BUSINESS TIMES Tri-Valley by the numbers Population Median home price 27% $1.5 M 352,000 $1.25 M Total population $1M Foreign-born 750,000 500,000 Higher education 250,000 19% 0 o a y a a on le in on re c ar t re ni il l t o cis l n A r am nv ub an m n C ou y ifo R a D s er ra ta C a al 60% n D ea iv F an B C Sa Pl L n S Sa Source: Zillow Home Value Index-May 31, 2018 Bachelor’s degree Graduate or Median household income or higher professional degree $1.25 M 1M High school graduation rate 750,000 500,000 250,000 97% 87% 0 Tri-Valley San Francisco Silicon Valley California Tri-Valley Bay Area Source: Transwestern US Census 6/26/2017 AN EDUCATED HIGH 5 factors POPULATION PRODUCTIVITY 1 According to a re- 2 This is a population that port from the Bay Area works hard. Impressive- that make Council Economic Insti- ly, GDP per worker in the tute, more than 26 percent of the Tri-Valley is at an estimated $215,561. Tri-Valley’s adult population holds a This is higher than every other com- the Tri-Valley master’s degree. This is a testament parable region besides Silicon Valley, to the draw of science and tech- and drives home the idea that the nology positions in the region and real source of all of this innovation is a hotbed of the many high-value companies in the people them- residence there. selves. Brainpower in the Tri-Valley extends In many ways, to the younger populations in the the Tri-Valley is a innovation area, too. According to the Bay Area hotbed of in- Council’s report, the graduation novation simply The Tri-Valley benefits from rate for high schools in the region because, as John is 97 percent. An example of this Sensiba of Sen- an accumulation of qualities abundance of talent in Tri-Valley siba San Filippo – some engineered, others schools is the Dreammakers and Accountants puts naturally occurring – that drive its Risktakers luncheon, which celebrates John Sensiba it, “Success is the young entrepreneurs joining ITV Past Chair and defined here by innovative possibilities. the ranks permeating the Tri-Valley’s Managing Partner, contribution to Of those qualities, here are five innovation economy. It’s a compelling Sensiba your community.” that have become key factors loop, supporting and investing in San Filippo If there’s any- innovative possibilities at every age thing one learns in the success of the Tri-Valley’s level. from looking at the Tri-Valley and the innovation economy. myriad ways it encourages productiv- ity and connection to its community, it’s that those contributions never stop coming. JULY 27, 2018 TRI-VALLEY | AHEAD OF THE CURVE ADVERTISING SUPPLEMENT 5 Total GDP GDP per worker Employment growth Top workplaces Percent change since 2006 $215,000 48,000 $42 Tri-Valley 135% Number of employees at Hacienda and 115% Bishop Ranch billion $155,000 7,700 California Number of employees at Sandia Labs and Lawrence Livermore National Labs Number of technology companies 450 headquartered in the Tri-Valley Office lease costs Tri-Valley Silicon Valley Average yearly rental price per square foot 157% Fastest-growing Tri-Valley occupations $32.04 Tri-Valley Percent growth since 2005 $74.17 118% San Francisco 97% 97% $52.20 Silicon Valley 62% $38.52 Oakland Transportation n Two Dublin/Pleasanton BART stops n Interstates 580 and 680 n Three Altamont Corridor Express (ACE) train stops Business Hospitality Health care Professional, Educational n WHEELS regional bus service management and social scientific, and services services technical services Sources: Bay Area Council Economic Institute; U.S. Census 2016 DIVERSE THE INNOVATION A DRIVE TO BUSINESSES ECONOMY IMPROVE 3 The Tri-Valley’s base of 4 Qualities associated with 5 Tri-Valley’s animating productive workers are a the innovation economy force is the drive to part of a diverse economy are present in nearly every improve. Bringing together that can take advantage of them. part of the story of the Tri-Valley’s rise leaders of private companies, the The Tri-Valley represents a range of to prominence. It’s a unique system, national labs and venture capital or- different populations who live in dif- developed specifically to take advan- ganizations, as well as public figures ferent areas and each city has its own tage of the brilliant minds that popu- at city and state levels, the Innovation specialties late the companies and homes of the Tri-Valley team is a ceaseless source San Ramon and Pleasanton, for ex- Tri-Valley. of energy be- ample, contain the some of the high- It often starts with the region’s na- cause every mem- est concentrations of prime office real tional labs, Lawrence Livermore and ber represents a estate in the Bay Area, available at far Sandia, which are a source of incred- different reason lower prices than the Bay Area and ible wealth for the region in terms of and methodology San Francisco. Danville and Dublin talent. The incubators and accelera- for the Tri-Valley are more known as residential areas, tors then adopt talent from the labs to succeed. and Livermore has a lot of space for and other companies in the region This sense of industrial companies. and give them a place to grow their cooperation and This doesn’t even take into account ideas near their homes. shared goals is a the retail, arts and leisure, and other Assisting the process are a new Buck Koonce general quality of markets that fill the five-city area that generation of venture capital organi- Lawrence the Tri-Valley, says have a combined GDP of $42 bil- zations, led by Mirador Capital and Livermore Buck Koonce of lion dollars.