In June, the Governor's Office announced that California ranks highest on Fortune 500's list as the state with the most corporations generating the largest revenues. For the second year in a row, California leads the nation as host to 58 Fortune 500 companies. In May, Governor Gavin Newsom announced that California is now the fourth largest economy in the world, with a nominal GDP of nearly $4.1 trillion. 

"California is home to 33 of the world's 50 leading AI companies, high-impact research and education institutions, and a quarter of the technology's patents and conference papers," according to the Governor. "With an increasing state population and recent record-high tourism spending, California is the nation's top state for new business starts, access to venture capital funding, and manufacturing, high-tech, and agriculture."

Tri-Valley an Economic Powerhouse

Within the State of California, the Tri-Valley has become an economic powerhouse. According to statistics compiled by the East Bay Economic Development Alliance (East Bay EDA), the region generated a gross regional product of $300 billion in 2024. East Bay EDA officials say the East Bay region "supports a diverse and unique ecosystem of companies, educational institutions, investors, and other assets that help companies collaborate and innovate, leading to the development of new products and solutions."

According to Carline Au, Head of Planning and Strategy for East Bay EDA, the region has "a strong culture of innovation that is tied to the two national labs, Lawrence Livermore and Sandia. There are local incubators and accelerators that have accelerated the growth of startups in the area. The strength of the Tri-Valley also comes from the collaboration and leadership of Innovation Tri-Valley Leadership Group and the Tri-Valley communities coming together with a collective vision to support economic development and grow the innovation ecosystem in the Tri-Valley."

Two years ago, the Mercury News noted that the Lawrence Livermore National Lab's "fusion breakthrough highlights Tri-Valley's emergence as Bay Area tech mecca." The benefits of the ongoing technological accomplishments by the labs are not limited to the government. Many programs benefit private industry as well. Livermore Valley Open Campus, for example, is a unique partnership between Lawrence Livermore National Laboratory and Sandia National Laboratories that allows industry and academic collaborators to tap into the resources of both facilities, which use some of the world's most advanced science and technology. This program lets industry collaborate with lab personnel on research that often leads to new patents, products, and technology.

Several other LLNL programs also offer commercial enterprises access to the deep expertise and cutting-edge equipment available through the lab. LLNL's Innovation and Partnerships Office is one of them, serving as "a focal point for LLNL engagement with industry," lab officials say. "Whether by technology commercialization, encouraging entrepreneurship, or via laboratory business development activities, our mission is to grow the economy by advancing the development and commercialization of scientific discoveries. Our goal is to identify new economic opportunities and solutions and transfer those to the private sector through licensing or partnerships for the benefit of the U.S. economy." 

While the Tri-Valley is known for manufacturing, technology, and a diversity of industries, it has also become an increasingly attractive location for emerging industries, particularly in life sciences and climate technology. One factor is the region's highly educated workforce, notes Au, which is an outgrowth, in part, of the highly skilled workforce drawn to the region's two national laboratories and the area's top colleges and universities. This clustering of national labs, nearby colleges, corporate research and development investments, and commercial real estate also contribute to the Tri-Valley's appeal, Au notes.

"The Tri-Valley offers more flexible commercial real estate options that have allowed companies to co-locate their administrative offices, research and development, and manufacturing in a campus setting or in close proximity to one another. This has drawn numerous companies that are not only doing research and development but also starting to commercialize and manufacture. The availability of flexible real estate in the Tri-Valley is a big economic opportunity."

Remarkable Tenants Call Hacienda Home

Many notable organizations have become Hacienda tenants to take advantage of the region's business opportunities and the benefits of Hacienda's location and specific amenities. Ideally placed at the junction of two major interstate freeways (I-580 and I-680), Hacienda is about halfway between San Francisco to the northwest and Silicon Valley to the southwest. That location offers easy access to the San Francisco Bay Area, one of the most powerful and productive economies in the world.

It also gives tenants access to world markets via the San Francisco and Oakland International Airports and four local shipping ports. Moreover, employees working at the Hacienda campus usually experience an easier commute compared to the daily gridlock between San Francisco and Silicon Valley. As one executive put it, "Our Hacienda location gives us a great leg up on acquiring and retaining top talent."

Hacienda tenants are supported by a robust infrastructure of telecommunications, power, transportation, water, and other vital amenities including nearby BART and train stations as well as ample parking. Tenants report great satisfaction with the outstanding business employee benefits offered. They include a customized Commute Resource Center; excellent schools, tutoring services, and after-school programs; and nearby restaurants, gyms, shopping, and healthcare services. Special business security programs mean that patrols, available to all tenants, circulate the development 24 hours a day. Users are also offered everything from educational programs to free security and safety inspections.

The development offers additional advantages as well. Hacienda tenants and residents can experience beautiful, natural landscaping on their front door thanks to the more than 12 acres of parks in the heart of the development. Nearby Pleasanton Ridge Regional Park spans over 5,000 acres; its multipurpose trails accommodate hikers, equestrians, and bicyclists. Local golf courses are also plentiful.

The benefits of a Hacienda location have drawn a host of established as well as newer companies, nonprofits, and other organizations. Oracle, one of the world's largest public companies, has maintained office space in Hacienda for 25 years. Its 20-acre campus includes two office buildings totaling nearly 400,000 square feet. Bio-Rad Laboratories, Inc., a global leader in life science research and clinical diagnostics products, is a Hacienda tenant. So are life sciences company Unchained Labs; Veeva Systems, a leader in cloud-based software for the global life sciences industry; and Zoho Corporation, an accomplished company with more than 55 business apps.

Major healthcare concerns have also found a home at Hacienda. They include Axis Community Health, John Muir, Kaiser Permanente, and Stanford Health Care Tri-Valley. Ware Malcomb, ranked as the number one Industrial Sector Architecture Firm by Building Design + Construction magazine, is also a tenant. So, too, are AEye, Inc., a pioneer in high-performance lidar technology; the airplane manufacturer Boeing; and DAHLIN, a national, award-winning architecture, planning, and interiors practice. Whether long-established or still in the startup phase, the organizations that locate in Hacienda find support and conditions that help their employees and operations thrive.

For more information about the East Bay Economic Development Alliance, please visit eastbayeda.org.

For more information about Livermore Valley Open Campus, please visit www.lvoc.org.

For more information about Lawrence Livermore National Laboratory's Innovation and Partnerships Office, please visit ipo.llnl.gov.

For more information about Hacienda, please visit www.hacienda.org/location/project-overview.