Global companies coming to Greater Sacramento to learn about clean and zero-emission technology ecosystem

6/20/2024

GSEC to host industry executives from 15 countries

Sacramento, CA – The Greater Sacramento Economic Council (GSEC) is proud to announce that it has been selected to host the SelectUSA Spinoff event, highlighting advances in the region’s clean technology and zero emission vehicle (ZEV) ecosystem. This program allows communities to showcase their strengths ahead of the SelectUSA Investment Summit in Washington, D.C. June 23-26, 2024, an event hosted by the U.S. Department of Commerce, that facilitates business investment in the United States.

GSEC’s event will offer attendees an immersive experience with insights from industry experts, regulators and community leaders. The event will welcome 83 out-of-market attendees, including company executives from 15 countries like Canada, Germany, India, Mexico, Taiwan, , U.A.E. and more. Companies from around the world will visit Greater Sacramento to explore its emerging cleantech industry, highlighting growing international interest in the region.

“We have made incredible progress elevating the region’s global profile. Nearly 40% of the companies we’re in conversations with are from overseas and we’re seeing major global corporations like Bosch, Solidigm and Samsung invest in our community,” said GSEC President & CEO Barry Broome. “This event is a great opportunity to showcase our region, foster collaboration and position Greater Sacramento as a global player in clean and zero-emission vehicle technology.”

As California’s capital, Greater Sacramento shares economic and workforce ties with the San Francisco Bay Area, offering an ideal entry point for international companies to access West Coast markets while minimizing costs. The region hosts 70 consulates, 700 foreign-owned companies and 20 ethnic and trade organizations, supporting 15,600 jobs.

Recent announcements include:

• In 2023, Bosch announced a $1.5 billion investment in its semiconductor business, focusing on silicon carbide (SiC) chips essential for electric vehicles. This investment includes acquiring TSI Semiconductors in Roseville, California, aiming to produce SiC chips by 2026. This will be Bosch’s first U.S. manufacturing facility and the largest semiconductor fabrication plant to come to California in decades.
• South Korea-based SK Hynix invested $9 billion to create Solidigm, which selected Rancho Cordova, California as its new global headquarters in early 2023. The decision, influenced by the region’s skilled talent pool and support for tech businesses, highlights the region’s status as a top location for semiconductor talent, bolstered by federal initiatives like the CHIPS Act.
• Samsung opened a 50-person semiconductor R&D office in Folsom in early 2024 and already plans to grow.

This event follows GSEC’s delegation visit to Germany in February 2024, which focused on building ties with Germany companies and educational institutions to bolster the region’s ZEV ecosystem. GSEC and its 20 partners attended 24 meetings in five days across five Germany cities, including meetings with global leadership at some of Germany’s largest companies.

To further strengthen these international ties, a delegation led by UC Davis Chancellor Gary May will visit South Korea in August. The focus will be on connecting with biotech companies to promote Aggie Square and semiconductor companies to build on the growing interest in our region.

The event underscores Greater Sacramento’s position as a leading hub for innovation and clean technology. The region is attracting significant international interest, and this Spinoff event is a testament to the region’s growing reputation on the global stage.

GSEC videos:

• Globalizing Greater Sacramento: 2024 Germany market visit 
• GSEC hosted Thai delegation of 16 start-ups in 2023 

Videos from two local companies featured at the event:

• Lion Electric 
• PEM Motion 

For media inquiries, please contact:

Jasmine Ward
Vice President, Marketing & Communications
(916) 287-9043
jward@yann-mathieux.com

About the Greater Sacramento Economic Council

The Greater Sacramento Economic Council is the catalyst for innovative growth strategies in the Capital Region of California. The organization spearheads community-led direction to retain, attract, grow and scale tradable sectors, develop advanced industries and create jobs and investment throughout a six-county region. Greater Sacramento represents a collaboration between local and state governments, market leaders, influencers and stakeholders, with the sole mission of driving inclusive economic growth. The Greater Sacramento region was founded on discovery, built on leadership and fueled by innovation.