Silicon Bay Partners, a holding company established to acquire and develop new leading edge technologies as well as promising early growth stage companies, announced today that it will relocate its corporate headquarters to Sacramento before the end of the year.
According to Randy Hucks, the firm’s Managing Partner, Sacramento provides an exceptional locale as well as a base of operations with a good quality of life and stable business climate. “We anticipate cost savings over time with this transition and believe it will add to shareholder value over the long term,” he said.
Though the city is within close proximity to Silicon Valley, Sacramento is also experiencing technology sector growth of its own.
Research by the Sacramento Regional Technology Alliance (SARTA) shows growth locally in all four technology sectors – clean, agriculture, medical and general high tech.
The Clean Tech industry has grown in the Sacramento area every year since the group began tracking it a decade ago. SARTA expects this healthy momentum to continue for the next decade and beyond.
Sacramento also ranked No. 10 on this year’s list of most popular destinations for users of U-Haul vehicles. The company’s marketing manager in East Sacramento said the reason may simply be that it’s cheaper to live there than in other parts of California. U-Haul noted the city rose three spots from its previous year’s ranking. In addition to cheaper housing, U-Haul cited urban redevelopment and access to nightlife as reasons for the upswing.
Hucks said his firm has identified at least three suitable properties in Midtown, noting that the chosen facility must also accommodate one of its portfolio companies, Flippbox, a unique postal mail management, file storage, and cloud syncing application which encourages consumers to print less and recycle more.