THE ABILITY TO WORK CLOSE TO HOME, RECREATION AND NATURE IS PART OF THE BUSINESS PARK’S APPEAL
A Magnet for Business Expansion
The business park is designated for research and development, office headquarters, education, research and laboratory space. This is not a site for manufacturing or logistics.
The business park is fully entitled and zoning is in place. The City of Lathrop offers a streamlined approvals process, and architectural guidelines have been created for flexibility and enduring aesthetic appeal.
River Islands has a program in place to attract businesses by reducing their costs and offering incentives. City fees associated with buiding new office space may also be reduced. In addition, a 25 year development agreement is in place to vest land use rights.
Multiple carriers serve River Islands, providing high-rate bandwidth throughout the project. Tenants with intense technology requirements will have direct access to a wide spectrum of carriers offering fiver with high Gbps connections appropriate to their use.
A state of the art business environment
Central to the character of the River Islands master plan is a vital business park, in a campus setting that supports the community's tenets of live, work, learn, play and belong. Its premier location, bordered by an internal system of lakes on the north and connected by bicycle and pedestrian pathways to the residential neighborhoods and planned downtown retail gives employees a visual and physical connection to the River Islands community. Several of the community's major arterial roads connect with access to the business park, making vehicular access convenient.
Flexibility is inherent in the design of the park to allow users the opportunity to envision their own future here. Businesses with needs for office and administrative space, higher education, research and development, medical, technology, and such services as restaurants and hotels can satisfy these requirements at River Islands. Warehouse logistics and manufacturing facilities are not permitted at River Islands.
River Islands has built a strong and steady relationship with the City of Lathrop and San Joaquin County. Susan Dell'Osso, Project Director, holds an executive leadership role with the San Joaquin Partnership, a business-to-business organization serving the needs of this rapidly growing region.
One of the fastest growing regions in california
The River Islands Business Park is strategically located at the confluence of I-5, I-205 and State Highway 120, a short drive from the Tri-Valley area of the East Bay. The community provides ready access to the Stockton Municipal Airport, and is within easy driving distance of the four major international airports at Sacramento, San Francisco, Oakland and San Jose. Commuter train service is provided by ACE, the Altamont Commuter Express, which already has a Lathrop station and has published plans for a station at River Islands. The community enjoys easy access to BART Dublin/Pleasanton and future Livermore stations.
Many of the 70,000 employees who currently commute to jobs in the Bay Area are highly skilled and motivated to find employment closer to home. River Islands offers a highly amenitized community that can attract employers who want to balance the qualities of a workplace environment with that of nature, recreation, and learning - all close to home.
One of the fastest-growing regions in California, northern San Joaquin Valley boasts a well-trained workforce, attainable housing, and solid transportation system. The City of Lathrop is leading the way in the region as development-friendly and business-ready. Since its incorporation in 1989, Lathrop has capture millions of square feet of retail and industrial uses, and a number of Fortune 500 companies have located in Lathrop, including Tesla.
The City experienced significant growth in the early 2000's, driven by Bay Area homebuyers. Its current population of approximately 19,000+ residents is ethnically and generationally diverse. Lathrop has seen a recovery in its housing sector and has seen a 48% increase in home values in year-over-year since the recession (information from DataQuick).
Centrally Located Employment Center
More than 70,000 commuters a day leave their homes in the Northern San Joaquin Valley (comprised of the counties of San Joaquin, Stanislaus and Merced) to work in the San Francisco Bay Area. A significant percent of these super commuters would prefer to work in the San Joaquin Valley and avoid the I-205, I-580 and I-680 commute. The commute is primarly in single occupancy vehicles (71%), with 25% engaged in some sort of shared ride and only 4% by public transit.
This mobile workforce, while employed in a wide array of occupations, has its highest percentage in such identified fields as professional business, technology, and information. A quarter of the commuting workforce to Santa Clara County is employed in manufacturing, dominated by the electronic and solar power industries.
This commuter workforce has a higher income level than residents working in the Northern San Joaquin Valley, with 45% reporting well above the median household income level. This income differential is reflective of the education level survey recently completed on the Altamont Commuter Train, with riders reporting 38.4% Bachelor degrees, 17.7% Master degrees and 4.9% PhD's. All are well above the state and national averages.
River Islands can provide these commuters a quality living environment, with an array of housing opportunities at many price points, walkable schools, new parks and playing fields, walking trails, access to Delta waterways and a business park within bicycling distance of the residential neighborhoods.
California Employment training panel
The Employment Training Panel (ETP) uses a pay-for-performance contract to provide a specific fixed-fee cash reimbursement for costs of employer-customized, job-specific skills training conducted by a company for new hires or existing employees. The ETP reimbursement is based on a contract-specified reimbursement rate and number of training hours tracked. Fixed-fee reimbursement rates vary from $15 to $26 per hour, inclusive of training and administrative costs. These rates vary by business size and type.
Research and development tax credit
The California Research and Development (R&D) tax credit program reduces income or franchise tax. Companies may qualify for the credit if they paid or incurred qualified research expenses while conducting research activity in California. The credit is 15% of the excess of current year research expenditures over a computed base amount (minimum of 50 percent of current year research expense) or a 24% credit for basic research payments to a third-party organization.
New job Tax Credit
In order to stimulate small business job creation efforts, the State provides a $3,000 tax credit for each full-time employee hired by business that employs 20 people or less on the last day of the preceding taxable year.
Federal Research and development tax credit
The Federal Tax Credits, while compete and variable by business organization provide from 14% to 20% of qualified research expenditure. (Internal Revenue Code Sec. 41)
Electric service to River Islands will be provided by Lathrop Irrigation District (LID). LID was formed in 2002, and began providing retail electrical service in April, 2013. LID was formed to be the electric provider for homes and businesses in River Islands. Because it is a public agency, LID can provide service at rates below PG&E. LID is governed by its locally elected board of directors rather than the CPUC (California Public Utilities Commission). The provides more local control and prioritization of evolving needs for the growing River Islands community.
LID will build the electrical distribution system pursuant to all regulations, and in phases generally moving east to west to meet the needs of the project as it is built out. During the startup phase, LID is contracting with South San Joaquin Irrigation District (SSJID) to perform functions such a billing, collections, customer service, meter reading and miscellaneous administrative services until the continuing growth of the community makes it economically feasible for LID to hire permanent staff to perform this work.
Natural gas is provided by Pacific Gas & Electric (PG&E). Natural gas will be delivered to the customer's site via an underground natural gas distribution system. Like any other community in Northern California, the natural gas rates are set by the California Public Utilities Commission.
The telecommunications services system will be designed to meet commercial telephone,data and video needs, and residential telephone, video entertainment and data needs. The system will be comprised of four separate networks: (1) a telephone network; (2) a cable TV network; (3) a wireless network; and (4) a trunked radio network. The total system will take advantage of a joint-use fiber optic cable infrastructure. Currently, AT&T and Comcast serve the site. Through a River Islands affiliate, however, River Islands can enable additional providers with almost no exception.