Seizing our Destiny/Economic

Development Action Plan

Riverside Public Utilities Participation

Seizing our Destiny –

Where we are Going

Intelligent Growth – Economics, People,

Sustainability and Transportation

Catalyst for Innovation – Discovery,

Technology, Education and Connection

Location of Choice – Public Health,

Recreation, Culture and Neighborhood

Unified City – Giving, Diversity, Engagement and Pride

City Manager’s

Economic Development Action Plan

The goal of economic development is to help

businesses create jobs for our community

Office of Economic Development

City Manager’s Economic Development Council

Focused Strategy

RPU key member, especially to:

Expand incentive programs for business recruitment

and retention/expansion

Use rates to help fill vacant commercial space

Visit Southern California brokers

Host tours to brokers, tenant reps and site selectors

Expand business customer visits

Work to encourage student career opportunities

Expand tourism, especially Festival of Lights

Current RPU Benefits/Incentives

Low cost water supply

Low electric rates

Rate freeze through 2012

Business Development Section

Programs

Economic Development Rate

Business Retention Rate

Rebates and efficiency programs

Current Electric Economic Development Rate

First adopted in 2000

Re-introduced October 2010

For large customers

40% off rate in year one

20% in year two

Concept: new business immediately pays all variable

costs – Generation and transmission - and transitions

to full rate to recover all distribution costs

Distribution costs recovered the faster we can spread

those fixed costs to more kWh

Electric Economic Development Rate

Subsequently:

Added targeted “high tech”

and “green” industries of any

size

Business Expansion rate for

new load of Riverside

businesses

Added a Business Retention

Rate in 2010 for Riverside

business customers

experiencing hardship

Seizing our Destiny/Economic Development

Action Plan

Riverside Public Utilities Participation

- Moving forward

Proposals

Extend the Electric Rate Freeze through

December 31, 2013

Provide low-cost water supply certainty

through the proposed Recycled Water

projects

Proposals

Extend the Economic

Development Rate to a four year

phase in:

40% reduction in year one

30% reduction in year two

20% reduction in year three

10% reduction in year four

Five year sunset to end December

31, 2016 then reverts to current

rate structure

Proposals

Expand ED Rate to all Seizing our

Destiny targeted industries:

Professional Services (engineers, etc.)

High Tech (includes “green”)

Advanced Manufacturing

Legal, finance, Insurance &

Management

Health Care & Medical Services

Use Federally defined NAICS codes

Review long-term rate structure for

even greater competitiveness

Proposals

Expand promotion of all programs aimed at

small and medium businesses

New Energy Efficiency programs

New Cool (White) Roof Incentives

New Historic Building Energy Efficiency Grants

Direct Installation programs

Focus on providing Fiber to educational

institutions at marginal cost – rate exists

Provide marketing assistance and placement

to expand awareness of Riverside

Attend Trade Shows along with staff from the City

Manager’s Economic Development Team

Community Involvement

Continue sponsorship efforts

Provide significant sponsorship

and staff participation in the

Festival of Lights

Riverside’s signature event

Focus on LED and low energy use

holiday lighting

Encourages “free” economic

development marketing

Creates jobs

Community Involvement

Developing a program to encourage high

school students to pursue utility related

college majors

Summer Camp in Science, Engineering and

Technology

Aimed at the high achievers

Developing in conjunction with Cal State San

Bernardino and UCR

Evolves into internships for local students in key

target majors

Jobs, Jobs, Jobs

Incorporate the E4 Plan into the

City Manager’s Economic

Development Action Plan