Greater Sacramento COVID-19 Update
Aug. 7, 2020
Good afternoon,
Despite the uncertainty of the current business environment, we’ve seen significant deal flow activity in our region at the start of our fiscal year. Reviver, a digital license plate technology company from Palo Alto, signed their lease for their new headquarters in Placer County. They will be bringing nearly 50 highly skilled technology jobs to the region, filled by both local candidates and employees relocating from Silicon Valley. In addition, Dollar General has chosen to lease 200,000 square feet of cold storage industrial space in West Sacramento, creating an economic impact of over $9 million in its first year of operation.  
To build on these successes, our business development team has been actively engaging companies considering our region in several notable industries. Two separate VC-backed startups in food delivery and manufacturing are currently submitting LOIs for buildings in the market. This week, we hosted a second round of market tours with a national site selector working on behalf of their Fortune 500 client seeking to build a large distribution building in our region. We continue to see positive momentum with companies in the life science and fintech sectors, recognizing our skilled talent and value proposition for their employees.    
In addition, we are working diligently to capitalize on the trend of tech talent dispersing from the SF Bay Area to the Greater Sacramento region. In July, we had a successful presentation to a large SF-based software company, who also noted the migration trend of tech talent to our region. We continue to position Greater Sacramento as the best option.
Have a great weekend,
In the news
Sacramento courts Bay Area tech workers: If you have to work from home, why not move here?

The Sacramento Bee interviewed Barry for a piece about the region’s draw for Bay Area tech workers. 

digital skills
Free financial tool for Greater Sacramento businesses

ABC10 featured GSEC’s small business planning tool, SizeUp.

Infrastructure and workforce will help attract companies

Comstock’s Magazine published a piece from Barry about the organization’s work and the importance of infrastructure and workforce to the region’s economic recovery from the pandemic.

Game-changing agtech innovation company MyFloraDNA opens in Davis

GSEC assisted MyFloraDNA in relocating to the region. The new agtech company specializes in testing fruit and nut trees to help breeders create new varieties of crops to battle climate change, provide more nutrition and produce a greater yield. 

Fortune 500 retailer, Dollar General, chooses West Sacramento for a major new cold storage site

GSEC assisted corporate leaders at Dollar General in choosing a nearly 200,000-square-foot facility on Channel Drive for their cold storage logistical site, which will bring more than 50 full-time jobs to the region and is expected to generate $4 million a year in economic activity for West Sacramento and $27 million to the region over the next three years.

Growing Five Star Bank adds Capitol Mall, Yuba City locations

Five Star Bank is expanding with new locations in Downtown Sacramento and Yuba City. “We want to be a part of helping the Downtown revitalize. All of us in the capital region need to think positively about our urban core,” said President and CEO James Beckwith.

Texas contracts with Folsom-based PowerSchool for statewide distance learning program

The Texas Education Agency is offering a home learning system to all school districts in the state that gives them access to Schoology, PowerSchool's distance learning management system.

Economic impacts and projections updates
Updated Report: U.S. economic forecast

Today’s report includes updates on regional and national unemployment, real estate, economic recovery plans, lending programs and more. 

Additional reports

The COVID-19 Resilience Poll (CapRadio / Valley Vision)
GSEC released its annual report, detailing the team's work from the past fiscal year (July 2019 - June 2020). Read the report »

There is $80 million in Cal Competes tax credits available for businesses that are expanding and adding full-time jobs in California. The deadline to submit applications is Monday, August 17. Access the application »

The City of Sacramento approved a $10 million 'Workforce Development Recovery' program to help local workers displaced by COVID-19. Learn more »

Downtown Sacramento is pledging to keep COVID in check. Employees and customers can now find visual cues (orange and blue posters) in the windows of businesses that have pledged to implement public health guidelines and new distancing measures. Learn more »
GSEC programs
This moderated conversation will highlight how thinking about future technologies can help us be ahead of the curve as we find new ways to advance the region’s economy.

While the future seems threatening, chaotic and unpredictable, there are ways to identify trends that will define it. Tech innovation will drive the emergence of “Next-Generation Greater Sacramento” in the post-COVID world.


Manufacturing and Supply Chain Considerations (View recording | Download slides)
Related programs

California Competes Tax Credit Webinar
Date: Aug. 11, 11 a.m.
Host: GO-Biz

Information in the Digital Age Part 2: New Media and Misinformation
Date: Aug. 13, 9 a.m.
Host: World Trade Center Northern California

Supporting Small Strengthens Us All
Host: California Office of the Small Business Advocate

Economic Incentives, Resources and Relief Programs for CA Manufacturers
Host: California Manufacturing Technology Consulting

Cyber Security in the Age of COVID
Host: City of Sacramento
Featured commercial real estate property
LogistiCenter at Southport

This ±379,161 sq. ft., 36’ clear height, cross-docked Class A industrial building is located in the Southport in West Sacramento with immediate access to I-5, I-80, Hwy 99 and Hwy 50.

COVID-19 resources
California Employer Playbook for a Safe Reopening

The state's new Employer Playbook enables employers to do their part in reducing the risk and spread of COVID-19 in the workplace and ensures California businesses stay open.

Additional unemployment insurance benefits now available 

Up to 20 additional weeks of unemployment insurance benefits are now available to longer term unemployed workers impacted by the COVID-19 pandemic. California employers will also receive some unemployment tax relief.

SMUD offers loans to Sacramento nonprofits hit by COVID-19

SMUD's Sustainable Communities initiative has partnered with California Capital to create a simple, low interest microloan program to help local nonprofits in SMUD's service area keep their operations running and growing. Microloan applications can be submitted through September 1.

$8 million approved for Placer County small business and non-profit grants

Beginning August 25, eligible small businesses and non-profit organizations in Placer County can begin applying for Placer Shares grant funding to offset impacts caused by the coronavirus pandemic and the resulting state shutdown order.

Free mediation for Sacramento landlords and tenants affected by COVID-19

This new program will assist tenants and landlords located in the City of Sacramento who utilized the local Tenant Eviction Moratorium Ordinance, which created a temporary ban on evicting residential and commercial tenants unable to pay rent due to a loss of income caused by COVID-19 impacts.

GSEC newsletter update

Please note that instead of sending the newsletter each week, moving forward we’ll only be sending it twice a month: once at the beginning of the month and again halfway through the month. If you'd like additional updates from the organization, please sign up for our weekly text alerts here. Thank you.