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The Proposed Tri-Valley Regional Economic Strategy has Two Major Components: A Tri- <br />Valley Innovation Network and Regional Branding/Marketing Campaign <br />I. AN UNMISTAKABLE TREND: Tri-Valley's New Economic Landscape <br />Tri-Valley's Economic Evolution <br />"EDGE CITY" <br />ECONOMIC POST <br />Up to the 1980s <br />Defense, agriculture, <br />back-office processing <br />A few large employers <br />GROWING <br />Ec_ONC>MIC REGION <br />- 1990 <br />- Emerging strengths in <br />software, communications, <br />wine, miscellaneous devices <br />and materials <br />INNOVATIVE ECONOMY <br />- 21st century <br />- Su•ong specializations in <br />information technology,scientifc <br />and biomedical products and <br />services, imiovation services, <br />business operations <br />Large physical developments <br />(housing and commercial) <br />- Little regional identity or <br />cooperation <br />- Large employers, along with <br />growing number of smaller <br />firms <br />- High rates of business a•eation, <br />diverse base of homegrown <br />headquarters <br />- Growing development pressw-es, -Innovation-driven economy <br />transpori<ition bottlenecks, labor needs supportive "habitat" <br />shortages ,r Talent <br />r Resow•ces to start firms <br />'r High quabty of life to attract <br />and retain talent <br />- Region begins to collaborate to -Region's new economic role requires <br />address key challenges new responsibilities -anew level of <br />collaboration <br />^ The rate of entrepreneurship has been mostly above the national average for more than a decade, <br />^ The regional economy is now mostly a homegrown economy-almost entirely composed of locally-based <br />firms, many of them created in just the past few years. <br />• New, homegrown firms are the most important source ofjob growth in the regional economy <br />2 <br />