Business Activity and Riverside in Inc’s. Surge City List
This week we started by covering UCR’s economic development and business activity report published by its School of Business Center for Economic Forecasting and Development. We observed in the article that “8% expansion in the business activity of Inland Empire in the second quarter of 2021 was attributed to growth in affordable housing sector.
We also reported about a list published by Inc. Magazine in which the online news media company compiled 50 cities of America most suitable for startups. We also touched upon why Riverside made it to the list and what can be improved to further strengthen the ranking.
Meat Snack Brand Country Archer’s $12M Series B Funding
We reported how Country Archer, a meat snack brand out of San Bernardino raised $12 Million Series B funding to expand its operations and production capacity.
A comment from the investor says ““It’s rare to see a company experience such accelerated growth in a short amount of time and it’s been incredible to join Country Archer on this ride. What is even more unique is to find a brand in this space that controls production” (Jared Stein, Co-founder and Partner at Monogram Capital Partners).
Opportunity Industries and Opportunity Zones
The Brookings Institution published a report about opportunity industries of the Inland Empire. We covered the report and shared that ‘manufacturing‘ and ‘logistics‘ were termed as the ‘opportunity industries’ of the region. Opportunity industries are those that produce good jobs, A good job being one that pays a ‘middle-class’ salary and benefits.
Another article we published this week highlighted the ‘Opportunity Zones’ of San Bernardino as the county was recognized in a recent White House report. The county was cited as an example of best practices in running Opportunity Zones.
About Opportunity Zones, we wrote:
An Opportunity Zone is a new community development program that encourages long-term investments in low-income urban and rural communities. The Opportunity Zone Program provides tax incentives for investors to re-invest unrealized capital gains into Qualified Opportunity Funds (QOF). QOFs are private sector investment vehicles that invest at least 90 percent of their capital in Opportunity Zones.
The Riverside Innovation District
Lastly, we covered the Riverside Innovation District and how the district combines Entrepreneurship, employment, entertainment and housing within a tightly knit location.
Upcoming Meetups & Meetings
#IEWP Monthly Meetup (General Meetup) – Tue Nov 2
Conferences & Festivals
1. Riverside Angel Summit Until Nov 3 (https://riversideangelsummit.com/)
- Due Diligence Final Reports are Completed by Investors on Nov 1
- Riverside Angel Summit Closing on Nov 4
2. Upcoming: FTR FST Nov 12 | https://ftrfst.com/
- Tickets on Sale Join The Email List to stay updated