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Tech presentation


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Παρουσίαση του San Francisco σχετικά με θέματα τοπικής αναπτυξιακής στρατηγικής - Πολύ χρήσιμο food for thought για τις προτάσεις μας στην Αθήνα!

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Tech presentation

  1. 1. San Francisco:Innovation City for the New Economy Mark Chandler Director Office of International Trade and Commerce Direct: (415) 554-5628 Email:
  2. 2. Overview of the San Francisco Economy
  3. 3. San Francisco Overview Hub of the San Francisco Bay Area Napa Valley» Location: San Francisco is located in the center of the San Francisco Bay Area in California.» Population: There are 808,976 people in San Francisco and more than 7.4 million people in the San Francisco Bay Area. San Francisco UC Berkeley» Business Hub: Home to 8 Fortune 500 Companies. Leader in Oakland Financial Services, Information Technology, Biotechnology, UCSF Cleantech, and Consumer Products.» Top Tourist Destination: In 2009 San Francisco was named best US City to visit and has been ranked #1 19 out of the last 20 years. San Francisco had more than 15.4 million visitors in 2009. Stanford University» Gateway to Asia: Approximately 33% of the City’s population is Asian or of Asian descent – one of the highest percentages San Jose in the US. Home to San Francisco International Airport.» Human capital: San Francisco was named “The Best Educated City in the Nation” by Money Magazine. 51.1% of residents have a Bachelors Degree or higher. At the hub of major research universities including UCSF, Stanford and UC Berkeley.
  4. 4. Key San Francisco Industries Center for Business and Innovation» Retain and Expand Existing Sectors » Financial & Professional Services: Global headquarters for Wells Fargo, Charles Schwab, Visa, Union Bank, Bank of the West. Major offices of Bank of America, JP Morgan, Citibank, US Bank, BlackRock, Deloitte » Consumer Products: Headquarters city to major consumer product companies including Gap, Levi Strauss, Del Monte, Gymboree, Williams- Sonoma, Sephora, Benefits, Design Within Reach» Recruited and Grow New Industries » New Media and IT: 1500+ companies. San Francisco is a leader in the consumer internet, gaming and software industries. SF is home to: Salesforce, Zynga, Twitter, Dolby, Yelp, Google, Playdom (Disney), Playfish (ElectronicArts), LucasArts, Wikimedia, TechCrunch, Ustream, Zendesk, Yammer, Eventbrite » Biotech: 74+ Biotech Companies. San Francisco is a major biotech center and is home to UCSF, Bayer, Pfizer, Celgene, FibroGen, Nektar, Medivation, California Institute for Regenerative Medicine (CIRM) » Cleantech: 225+ Cleantech Companies. San Francisco is an international renewable energy hub with more than 30 solar companies including: Suntech, Yingli Green Energy, Recurrent (Sharp Solar), GCL, Fotowatio Renewable Ventures, UpSolar, GA Solar, Abengoa, Albiasa. Future home of UN Global Compact Center
  5. 5. San Francisco Innovation Corridor
  6. 6. SF Innovation Corridor Treasure Island Financial District Seawall Lot 337 Transbay SoMa Pier 70 Mission Bay Central Waterfront Bayview Industrial District Life Sciences Overlay Hunters Point Shipyard
  7. 7. What Makes San Francisco Different?» Scale: In the last year, the City has approved the development of over 5 million sq/ft of commercial space and 24,000 new units of housing. 1500 tech firms, 225 cleantech firms, 8 Fortune 500 companies. Northern Terminus of California High Speed Rail, Home to 34th America’s Cup» Innovation, Entrepreneurship, and Thinking Big: The cutting edge companies of this cycle are starting and growing in San Francisco.» Collaboration: Silicon Valley comes to San Francisco to meet, collaborate and announce big news: Oracle Open World, Dreamforce, Apple WWDC, Web 2.0, TechCrunch Disrupt.» Talent: The creative talent of choice lives in San Francisco because we are an urban, creative, convenient place to live.» Committed, Responsive, Entrepreneurial Government: Assistance, Incentives, Programs, International Reach
  8. 8. S A N F R A N C I S C O: tech destination
  9. 9. “Simply put, San Francisco is THE nexus of technology and creativity. Idle Games focuses on quality,creativity and originality. While our goal is nothing short of revolutionizing Facebook games, wecannot achieve these goals without the right people and culture. No other city in the world cancompete with San Francisco’s population of highly talented residents and the vibrant start-upculture that is pervasive throughout the entire city. When you combine San Francisco, its people,culture and the forward thinking policies and efforts of Mayor Lee, there is simply no other choicefor a start-up to call home.”- Jeffrey Hyman, Co-Founder and CEO of Idle Games
  10. 10. ClusteringCross-fertilization within an ecosystem of technology firms » As of December 2010 San Francisco was home to 1,503 tech companies employing 27,503 people. » In the first 6 months of 2011 1.6 million sq feet of office space were leased to tech companies. And it doesn’t end there, currently 20 firms are looking for 1.9 million square feet of space in SF. (November 2011) » The dense concentration of tech companies creates opportunities for collaboration, sharing infrastructure, and aggregating resources. These firms represent a diverse array including such sectors as hardware, gaming, consumer web and media production.
  11. 11. Single Buildings, Many Tech Companies» Yammer and 7 other tech companies including TechCrunch, Playdom, OpenDNS, Eventbrite and Shop it to Me are co-located in 410 Townsend St with Zinch, Booyah and many others just down the street. » Idle Games and 4 other tech companies, Kiva, Pivotal Labs, Strobe, and Playhaven, are leasing a total of 93,000 square feet at 875 Howard.
  12. 12. Incubator/Co-Working Network» “I founded RocketSpace in San Francisco because there is simply no better place for an ambitious entrepreneur to build a game changing tech company…We’re growing in San Francisco because the demand to enter our ecosystem is substantial and the support network to ensure our clients success sits on our doorstep.” – Duncan Logan, CEO Rocketspace San Francisco is home to numerous incubators and co-working sites designed to accelerate the successful development of entrepreneurial companies.
  13. 13. Tech Incubators and Co-working Space
  14. 14. Quick and Efficient Growth» Access to high quality marketing, media, and advertising» Range of spaces available: incubators for small companies just starting out and prime property in SOMA for companies looking to enter the next phase of growth» Center of financial services & venture capital
  15. 15. Venture CapitalThe SanFrancisco BayArea dominatesventure capitalfunding,receiving nearly40 percent ofthe past fourquarter total.- Jones, Lang LaSalle
  16. 16. Venture Capital in San FranciscoA Range of Opportunities» High-tech has accounted for 50 percent of total venture capital funding over the past four quarters» The Bay Area’s market share over the same four quarters in 2000 - the funding peak - grew by almost 8 percentage points, while most other areas remained stable or shrank.» For the first quarter of 2010, 77 San Francisco based IT companies received venture capital funding. All in all the total sum of equity invested in San Francisco IT companies was $364 million
  17. 17. Urban SettingA “Social Silicon Valley” » Offices close to restaurants, bars, and for those located in SOMA, to AT&T Park and Caltrain. » Joe Fernandez, founder and CEO of Klout, says he’s looking for people who can apply the cultural ferment of urban life to the online world.
  18. 18. Having Fun in San Francisco• Golden Gate Park stretches over three miles long and covers more than one thousand square acres making it larger than New York’s famed Central Park. Popular location for biking and jogging.• Home to the 2010 World Series Champion San Francisco Giants• One of the best places for foodies. Few places in the world rival SF’s quality and variety of food choices, prepared by world-class chefs• 3 of the top 50 bars in the World are in San Francisco; Bar Agricole (#40), Tommys Mexican Restaurant (#30) and Smugglers Cove (#19)• San Francisco Centre is the largest urban shopping center west of the Mississippi; Home to the West Coast flagship of Bloomingdale’s and the second largest Nordstrom in the country
  19. 19. Global Access » ChinaSF, founded in 2009, is a business exchange platform between Shanghai and San Francisco » Over 12 companies have been recruited by ChinaSF, and the organization is well- positioned to assist local companies looking for overseas opportunities.San Francisco has over 16 Sister Cities, including Krakow, Barcelona, Paris, Shanghai, Bangalore and Ho Chi Minh City.
  20. 20. City SupportSan Francisco Government collaboration with the Tech community ♦Our first of its kind Twitter-311 service is solving San Franciscans’ problems with a tweet or text. City agencies are embracing social media to interact with residents and share information. ♦Over 60 apps have been developed using data made available through our Open Gov To improve transparency and engage our tech Initiative. community, San Francisco has an Open Gov Initiative, which focuses on open data, open participation and ♦City sponsored hackathons have open source. resulted in the participation of 500 individuals creating 10,000 hours of civic engagement
  21. 21. OEWDSupporting the City’s Ongoing Economic Vitality» OEWD provides city-wide leadership for workforce development, business attraction and retention, neighborhood commercial revitalization, international business and development planning.» By providing one point of contact for a variety of essential City programs and services, OEWD’s goal is to ensure that San Francisco will always be what it is today: one of the best places on the planet to live, work and play.
  22. 22. Workforce Programs» The San Francisco workforce development system actively recruits and trains thousands of local residents every year, preparing them to enter or re-enter the workforce with the most up-to-date skills to be of benefit to local companies across industry sectors:» Employment Training Panel: ETP provides dollar-for-dollar matched funds to companies for the training of incumbent workers. » OEWD is a strong local partner that can assist in drawing down these State funds for San Francisco companies.» Workforce Screen/Match/Referral Services: Available through the City’s One-Stop Career Link Centers, this program is designed to provide employers with access to a skilled applicant pool. » launched March 2010.
  23. 23. Tax Incentives
  24. 24. Central Market Payroll Expense Tax Exclusion» Effective date: April 20, 2011» Available for a period of 8 years. Individual businesses may claim the exclusion for a maximum of 6 years.» Any business located within the Central Market/Tenderloin Payroll Expense Tax Exclusion area is eligible.» Application process, First Source Hiring, and community benefit requirements (for payroll over $1 million) apply
  25. 25. Central Market Payroll Expense Tax ExclusionPayroll expense tax exclusion is limited to the amount of payroll expense taxabove the business’s tax base year. Base year means:»For businesses already located in the tax exclusion area on the effective date,the Base Year is 2010.»For businesses located elsewhere in San Francisco that move into the taxexclusion area after the effective date, the Base Year is the full tax year for theyear prior to entering into a lease agreement or buying real property in the area.»For businesses located outside of San Francisco that subsequently relocate tothe tax exclusion area, the Base Year is their first full tax year in the area.
  26. 26. Stock Based Compensation Payroll Tax Exclusion» Overview » The City of San Francisco’s payroll expense tax covers all forms of compensation for services rendered in San Francisco, including but not limited to wages and salaries, bonuses, and stock compensation. » A payroll expense tax exclusion for stock based compensation was approved on June 3, 2011 and allows companies to exclude stock based compensation above certain thresholds for tax years 2011 – 2017. The exclusion expires in 2017. » All pre-IPO companies are eligible. Only stock compensation granted before an IPO is eligible.» Calculating Exclusion: » Paid more than $750,000 of Payroll Expense Tax on stock based compensation in 2010: Company may exclude payroll expense on stock based compensation for amount over what was paid in tax year 2010. » Paid less than $750,000 of Payroll Expense Tax on stock based compensation in 2010: Company may exclude payroll expense on stock based compensation above $750,000 in tax.» Requirements » File a timely affidavit with Treasurer and Tax Collector » Maintain records and documents » File annual payroll expense tax return with Treasurer and Tax Collector, regardless of amount owed, after claiming this exclusion
  27. 27. State Enterprise Zone Tax Credits» History: The Enterprise Zone program was developed by the California State Legislature to provide targeted areas with a means to stimulate business and employment growth. » The City & County of San Francisco is currently operating under a Conditional Designation which began on May 28, 2007.» Location: The Enterprise Zone includes the Financial District, SOMA, the Northeast Waterfront, Mission Bay, Central Waterfront/Dogpatch, the Mission, Bayview & Hunters Point.
  28. 28. State Enterprise Zone Tax Credits» Primary EZ Incentives: » Tax Credit for Sales or Use Tax Paid: income tax credit equal to the sales or use tax paid up to the first $1 million ($20 million for corporate taxpayers) of machinery or parts purchased for use within the enterprise zone. » Tax Credits for Qualified Hires: For each qualified individual working within the boundaries of the zone, businesses can receive a $37,000 tax credit over 5 years. There are 13 categories under which employees can qualify.
  29. 29. State Enterprise Zone Tax Credits» 13 Categories for EZ Hiring Credit Eligibility: » California Work Opportunity and Responsibility to Kids (CalWORKS) » Workforce Investment Act (WIA) (enrolled/eligible for WIA Intensive Services or Core B) » Work Opportunity Tax Credit (WOTC) or successor program » Economically disadvantaged individual 14 years of age or older » Dislocated worker » Disabled individual or service-connected disabled veteran » Vietnam Veteran or veteran recently separated » Ex-offender » Recipient of, or eligible for, Public Assistance (AFDC,SSI, Food Stamps) » Native American, Native Samoan, Native Hawaiian or member of another group of Native American descent » Targeted Employment Area (TEA) resident.
  30. 30. Local Enterprise Zone Payroll Tax Credits» As a supplement to the state level tax credits, San Francisco also offers an EZ Payroll Tax Credit.» Same zone (boundaries).» The credit is a tax incentive against the payroll taxes for any new hires. They must be San Francisco residents and must meet one of the qualifying categories of the state EZ program (except TEA category). Calculation of Payroll Tax Credit Year 1-2: 100% Year 3-4: 50% Year 5-6: 25% Year 7-8: 15% Year 9-10: 10%
  31. 31. Thank YouFrom the City & County of San Francisco