The SVO Voices Support for Proposed City of San Jose Compensation Agreement with Google

Advocacy Matters The Silicon Valley Organization

On behalf of The Silicon Valley Organization (The SVO), we are writing to support city staff’s memorandum to approve the proposed compensation agreement by and among the Successor Agency to the Redevelopment Agency of the City of San Jose, the City of San Jose, the County of Santa Clara, and other taxing entities involved in the purchase of 6.5 acres of land in the amount of $67 million throughout the Diridon Station Area. By way of background, we are the Silicon Valley’s premier business advocacy organization representing 1,400+ companies that employ nearly 300,000 workers and we represent our membership as the region’s largest Chamber of Commerce.

This critical land value negotiation is an important first step in the potential entrance of Google to San Jose. The vision for the Diridon Station area has transcended decades, with a series of major transportation improvements meant to transform Diridon Station into the “Union Station” of the Bay Area.

For decades, the City of San Jose has been trying to attract major employers to relocate into the downtown core. Google’s potential arrival and investment in the City of San Jose is an incredible opportunity to add thousands of new good paying jobs that will grow new incremental tax revenue, which supports essential city services for all local residents. The SVO welcomes Google’s entrance into San Jose and we look forward to having a positive dialogue on how their significant investment will positively transform the City of San Jose and further San Jose as a global hub of innovation and economic activity in Silicon Valley.

The SVO urges Mayor Liccardo and Council to approve council agenda item 9.1 and support city staff’s recommendations for this proposed compensation agreement.