City of Riverside, California
Junior Olympics Come to Riverside 
 Seizing Our Destiny 
Weekly Wins
Great projects, initiatives and successes are happening in Riverside everyday; highlights for this week:

Partner Spotlight 

Riverside Technology CEO Forum 
provides an arena for Technology CEOs to network, discuss relevant topics and issues, as well as to develop and deploy programs of importance to the growth and prosperity of the technology industry and community.


They strive to create a network of intelligent resources, and seek collaboration and support among Riverside technology companies; establish high profile, mutually rewarding programs and provide an open forum for dialogs to foster and advance a high technology business environment; build mutually beneficial relationships between industry and government, by serving as an expert resource and creating supportive infrastructure systems; forge a strong industry-academic partnership with UC Riverside; and advocate for a supportive technology based industry environment, and enhance long-term advancement and success of technology industry in Riverside. 

Follow us on Twitter Like us on Facebook View our videos on YouTube
Economic Development News
City of Riverside, California
Office of Economic Development
July 31, 2012 

Riverside is being recognized worldwide for its forward looking, cutting-edge approaches to economic development, education, sustainability and technology. Discover the possibilities within this City of Arts & Innovation.


Dr. Helen Chen, Ambryx Biotechnology Inc.

Helen Chen, vice president of Business Development at Riverside's Ambryx Biotechnology Inc., was recently announced as an honoree at the Asian Heritage Awards to be held September 15 in San Diego.


The annual event recognizes achievements of San Diego's Asian Americans in several areas, including the fields of education, community service, technology and performing arts.


Dr. Chen currently serves as the current chairperson for the Riverside Technology CEO Forum, a group of hi-tech executives that provide an arena for technology CEOs to network, discuss relevant topics and issues, and develop programs and action items of importance to the growth and prosperity of the technology industry and community. (Read more...)


(as submitted by the Pierick-Mudge-Erickson Inland Empire Office Team, July 26, 2012)


As we pass the mid-year mark for 2012, the Riverside Office Market continues to experience moderate, positive absorption rates across the city and the office vacancy level slowly drops.  So far this year, Riverside has recorded 41,348 square feet of positive net absorption, which is only 3,500 square feet shy of the total absorption recorded in the market during 2011.  Riverside's current office vacancy level of approximately 22.6%, on a base of 9.1 million square feet, represents a minimal decrease in the vacancy level from 2010 (which was 22.8%) and 2009 (which was 23.2%).


The Downtown Riverside Submarket has one of the lowest vacancy levels in the entire Inland Empire region (11.2%).  The Downtown Riverside Submarket is also the only submarket in the Inland Empire with new office construction - the 6-story, 141,000-square-foot Citrus Tower was completed in March 2012, and recently occupied by Best Best & Krieger who took 36,000 square feet.


The Riverside Office Market is expected to continue to move gradually toward recovery in 2012 and 2013.  The market is already starting to see lease rates and sale prices firm-up.  "We seem to have found a bottom," remarks Rich Erickson, Senior Vice President at Lee & Associates Commercial Real Estate-Riverside.  On a positive note, Erickson comments that there are several large transactions floating around the Inland Empire.  "We expect a few [of those transactions] to land in our market," Erickson says, "we will start to show some strength and begin to significantly improve our vacancy."


For more information on the Pierik-Mudge-Erickson Inland Empire Office Team, visit their website at 


We invite you to celebrate the achievements and continued progress of this City of Arts & Innovation. Please contact the Office of Economic Development for more information.


Scott C. Barber

City Manager
City of Riverside