Greater Sacramento Region Set for Unprecedented 5-Year Growth
Recent investment, population increase are driving momentum
SACRAMENTO, Calif., May 03, 2022 (GLOBE NEWSWIRE) -- A new white paper from Greater Sacramento Economic Council (GSEC) and Newmark finds the Greater Sacramento region is on a major growth trajectory as investment, population increase and expanding opportunities for talent and education go into overdrive.
Venture capital activity jumped significantly in the past year, including multiple IPOs, a $1.8 billion SPAC merger and an $800 million venture raise. The region has also seen interest for business relocation and expansion jump about 19%, while year-over-year net migration soared 56% in 2020. A highly educated and diverse workforce is also at play. About 734,000 students are enrolled in two- and four-year institutions within 100 miles of Greater Sacramento, and the region ranks third in the nation for diversity in both tech and STEM.
“Greater Sacramento has seen incredible market momentum over the past five years,” said GSEC President & CEO Barry Broome. “There’s been a real shift in how executives across the country and world view our region. These leaders recognize that Greater Sacramento is the place to do business in California.”
Greater Sacramento’s regional economy showed incredible resilience during and after the pandemic as it continued to attract investments and make progress on significant projects. Folsom’s PowerSchool, for example, saw its valuation rise to $3.5 billion following its IPO in 2021. UC Davis broke ground on Aggie Square, a $1.1 billion, 1.2 million-square-foot life science research park at its Sacramento campus, developed by Wexford Science & Technology.
To spotlight this growth and further entice others to the region, GSEC is launching the CApital Momentum campaign, an initiative that will highlight groundbreaking developments and opportunities within California’s capital region. The campaign will be geared toward decision-makers and national site selectors for major companies.
CONTACT: Jessica Love
Greater Sacramento Economic Council