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Do you really know what the great Central Valley of California is, where
it is, or its claim to fame?
Myth would have it that the area is an extension of Los Angeles or San
Francisco. In fact, the Central Valley differs considerably from the rest
of the state. Unlike those more notable locations, the Central Valley
is a quiet, rural area. It represents 25 percent of the entire state's
land but less than 10 percent of its population. The Central Valley is
also adjacent to some of the country's best-known national parks: Yosemite,
Sequoia, and King's Canyon. Another important fact distinguishing the
valley from the highly populated coastal areas of the state is that the
Central Valley is one of California's most seismically stable areas --
quite the opposite of the fast-action, big cities of Los Angeles and San
Francisco.
Commercial and industrial real estate prices are substantially lower
than other locations, especially the San Francisco Bay Area and Los Angeles.
Prices for fully improved properties can be as low as $0.53 per square
foot, and the average price per acre is $23,000. The low industrial and
commercial property prices provide an incentive for companies to locate
in the Central Valley.
The Central Valley is the world's most prolific location for food production
and processing. Agriculture drives the valley's economy; the area supplies
half the nation's fruits and vegetables. In addition to large agricultural
production, the Central Valley is the nation's largest dairy region and
is home to the world's largest ice cream plant. The high productivity
level in agriculture and agriculture-related companies gives the valley
a great advantage. However, the industry is highly cyclical. The Central
Valley has recognized the need to diversify its economy. Indeed, it is
moving rapidly toward being the new mecca for service businesses, distribution
centers, high-technology service centers, and manufacturing industries.
The valley will become the home for the newest, most modern university
to be built in the United States in the past 30 years: University of California,
Merced.
The valley is loaded with a talented, hardworking labor force anxiously
awaiting an opportunity to serve companies, the region and the nation.
The valley is also the transportation link between northern and southern
California. It boasts two major highways (Interstate 5, State Highway
99), two rail lines that stretch the length of the state, and a number
of airports (including Fresno-Yosemite International and the Castle Aviation
Development Center, formerly Castle Air Force Base), one with a runway
almost 12,000 feet long, 300 feet wide and able to park approximately
one hundred 747 aircrafts.
The Central Valley certainly represents a unique part of California,
located close enough to the large, active ports of San Francisco and Los
Angeles to participate in international trade, but far enough away to
avoid the urban sprawl and congestion accompanying city growth.
The counties of the Central Valley have developed their economic strategies
for the future, and premier among them is the creation of a relevant FTZ
program. The zone project created serves regional economic development
projects in seven California counties on the verge of dynamic economic
growth: Fresno, Kings, Madera, Mariposa, Merced, Stanislaus and Tulare.
The zone project mirrors the region's existing economic development strategy,
which is cohesively regional in its marketing and promotion. Zone status
is available to qualifying companies in the Central Valley area and gives
those companies involved in the site selection process a wider variety
of locations from which to choose.
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