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January 16, 2008 > The 2008 Mayors Summit and Regional Economic Forecast

The 2008 Mayors Summit and Regional Economic Forecast

By Sam Rao

Three prominent mayors from the Bay Area will be the featured speakers at the 2008 Mayors Summit & Regional Economic Forecast meeting at the Marriot hotel in Downtown San Jose on Friday, Jan.18. The early morning summit will run from 7:30 - 10 a.m. and is sponsored by the Silicon Valley/San Jose Business Journal and City National Bank

Santa Clara Mayor Patricia Mahan will speak on finalizing plans for the San Francisco 49ers new stadium in Santa Clara. Mayor Reed of San Jose will address plans to tackle the city's structural budget deficit and also focus on new initiatives in CleanTech, while Mayor Wasserman of Fremont will share his plans to help bring the Oakland A's baseball team to the city of Fremont.

Event Manager Julie Borra of the Silicon Valley/San Jose Business Journal confirmed that only three mayors from the Bay Area have been invited to speak at this session- which will focus on the economic outlook of the region. The sold out event is to be attended by business members in each region, government officials and also interested community members.

The event, which costs $60 per person, sold out nearly a week in advance. This indicates the interest in the budget forecasts for each city, which will be one cornerstone of each address, according to Fremont Mayor Bob Wasserman.

Mayor Wasserman is hoping to bring the Oakland A's to Fremont, and the proposed "Ballpark Village" would bring 3,000 residential units and more than 500,000 sq. ft. of retail stores around the 32,000 seat auditorium. Mayor Wasserman confirmed that he expects to be asked to speak about the potential move of the Oakland A's to Fremont and that he anticipates that there will be plenty of specific questions about the same topic.

Recently elected Santa Clara Mayor Patricia Mahan, whose term ends in 2010, will also focus on the city's economic outlook and forecast, having recently announced a $10 million budget surplus for the year. Mayor Mahan will also highlight the advantage the city of Santa Clara has to offer for relocation of small businesses, including the low cost electric utility and also access to free Wi-Fi offered by the city. A much awaited presentation on the potential move of the San Francisco 49ers to the city of Santa Clara is also slated.

For the city of San Jose presentation, everyone will get a preview of some of Mayor Chuck Reed's remarks, as two days prior; Jan. 16, he delivers his State of City address for San Jose at the San Jose Convention Center. At the Mayors summit, Mayor Reed has said that he is (still) focused on changing the course of city government and is using this open approach to tackle the city of San Jose's structural budget deficit. Mayor Reed's press secretary Michelle McGurk confirmed that Mayor Reed will also speak on his 'Green Vision for San Jose' and also his 10-point strategy for CleanTech innovations for city, planned for the next 15 years

Ms. McGurk added, "The goal of the Mayor's 10-point CleanTech strategy is (better) environment and economic development. Mayor Reed will also highlight the success story of new solar industry businesses moving into San Jose like NanoSolar and Solopower Corp. and the continued success of SunPower Corp. and FatSpaniel, an energy monitoring company etc." Other topics for San Jose will be the construction of high rise buildings in downtown San Jose and the outlook for commercial offices including R & D spaces.

Also speaking will be City National Bank's Chief Investment Officer Richard A. Weiss who will present an economic outlook for 2008 and Grubb & Ellis' Executive Vice President, Managing Director Bill Hvidt, who will give an overview of the Silicon Valley commercial real estate market.

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