SACRAMENTO (CBS13) – Last week, the Greater Sacramento Economic Council hosted a tour of the area for a group of entrepreneurs interested in investing in the area.
Sacramento has long been considered a boom town, but local leaders say the conditions are right to bring fresh cash to the capital.
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Greater Sacramento Economic Council (GSEC) President and CEO Barry Broome puts pressure on selling to international companies.
A group of entrepreneurs were in town last week to see if the capital region would be the right place to have their headquarters. One of the council’s selling points in competition with other California cities like San Francisco and Los Angeles is relative affordability. It can be up to 30% cheaper in Sacramento than in the Bay Area.
“We struggle to realize all that we currently have to offer the world and how much more capable we are of changing conditions,” Broome says.
The GSEC has created over 3,000 jobs in the last calendar year and over 10,000 in its seven years of existence. A booming tech sector has longtime CEOs excited about the possibilities.
“That’s what attracted me initially, it was this public sector company, but over time what happened is it expanded beyond that. “said Zennify CEO Manvir Sandhu.
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One of the exciting new prospects for tech companies in the region is increased collaboration between the Sacramento area’s two leading universities, startups, and government. Sandhu has worked extensively with Sacramento State and sees a new home for developing startup talent. The CEO says major players like Google are starting to notice talent in the region.
“This whole paradigm is opening up,” Sandhu says before taking a student’s perspective. “I’m as good as anyone in the world. I happen to live here. I graduated from this great program. I can build a crazy company, I can work for a startup. Google will recruit me here Sacramento and guess what happens by the way.
But Broome says a bright future won’t come by itself. Citing the many capital projects that got off to a bad start in the area since the Great Recession, the GSEC chairman says the city needs to be proactive in attracting such businesses.
“We have to take action, so when you see all these undeveloped opportunities, the idea that they are going to be developed is not necessarily true,” he explains.
So it may be something it has never been before.
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“My goal is for people to say, ‘We want to be the next Sacramento,'” Broome said.