Snapshot of the Tri-Valley Region
Given the high quality of life and proximity to top jobs, large numbers of people continue to move to the Tri-Valley. The region has grown by 8% just since 2014, adding 28,000 more people. Employment has grown even more rapidly, increasing by 12% since 2014. This growth is due to a variety of assets that have made the Tri-Valley such a successful hub of economic activity.
These key factors include:
A highly educated population
60% of Tri-Valley residents have a bachelor’s degree or higher, making the region significantly more highly educated than California or the Bay Area as a whole. This strong talent pool makes the Tri-Valley a very attractive place for employers to locate.
Geographic connectivity to one of the most economically productive regions in the world
The Tri-Valley is at the heart of the Northern California Megaregion, close to San Francisco, Silicon Valley, Sacramento, and the Central Valley, which has allowed it to attract new and growing businesses, in addition to a large pool of talented workers.
Comparative affordability of housing
Although Tri-Valley home prices have been rising quickly, they are still less expensive than in Silicon Valley and San Francisco. The median home value in the Tri-Valley is still below $1 million, while in San Francisco it is $1.2 million and in Silicon Valley it is $1.1 million.
High-value, lower-cost commercial real estate
For businesses looking to open offices in the region, locating in the Tri-Valley instead of San Francisco can mean saving more than half of what they would be paying for rent. It also often means getting high-value space in amenity-filled campuses like Bishop Ranch and Hacienda. The average yearly price per square foot for office space is $32.04 in the Tri-Valley, compared to $52.20 in Silicon Valley and $74.17 in San Francisco.
High quality of life attracts innovators and business leaders
The Tri-Valley’s natural beauty, tight-knit communities, top-notch schools, and charming downtowns are often cited as key reasons behind the decision to do business in the Tri-Valley. The region’s schools are among the best in the state, with a graduation rate of 97%, compared to 86% for the Bay Area as a whole. The Tri-Valley excels at offering opportunities for work-life balance, allowing people to live nearby to where they work.
A bold ecosystem of innovation
The Tri-Valley has become a hotbed of innovation and entrepreneurship. The two national laboratories–Lawrence Livermore National Laboratory and Sandia National Laboratory–have led the region in innovation for over 50 years. Incubators such as i-GATE and accelerators such as BRIIA have helped homegrown entrepreneurs succeed. Over 450 technology companies are located in the Tri-Valley, and the region has received nearly $4 billion in venture capital and private equity investment in the past 10 years.
For more about the Tri-Valley, download the 2018 Tri-Valley Rising Report here:
Tri-Valley Rising 2018 Report