 May News You Can Use: Economic Development roundup! Here’s the TL;DR of this month's issue:
We have tallied the numbers for Fremont Restaurant Week 2024! Even though it's just in its second year, the event's website drew over 100,000 unique visits, and more than 2,500 Restaurant Week passports were submitted by customers. Notably, 95% of restaurants are eager to participate again, with 85% experiencing boosted foot traffic and 76% seeing increased revenues compared to their typical figures. We're thrilled and eagerly anticipating expanding the event further in 2025!
 
The City of Fremont Economic Development team recently visited Wisk Aero Headquarters in Mountain View, a leader in Advanced Air Mobility (AAM) with an R&D location in Fremont. During the visit, we had the incredible opportunity to witness Wisk's EVTOL Air Taxis firsthand, providing a thrilling glimpse into the future of transportation. We look forward to working with Wisk Aero and supporting potential future growth in Fremont!
Bloom Energy, a leading fuel cell and electrolyzer technology company based in Fremont, has secured $75 million in government tax credits to bolster its cleantech manufacturing and recent partnership with global gas and oil leader Shell to deploy "replicable, large-scale, solid oxide electrolyzer (SOEC) systems that would produce hydrogen for potential use at Shell assets." Designed to create high-quality sustainable energy jobs, reduce industrial emissions, and increase domestic production of critical clean energy products and materials, the $4 billion in tax credits from the Department of Energy is a much-needed boost to cleantech companies’ efforts in decarbonization and community energy resilience. CEO KR Sridhar emphasized the importance of such significant support, stating, "These funds will enable us to invest in the operational efficiency of our Fremont facility and accelerate the expansion of our stack capacity, so that we can continue to deliver timely, resilient power solutions to our customers."
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On April 16, the City Council upheld the Planning Commission's unanimous support of two exciting projects at The Hub and Gateway Plaza that are poised to transform Fremont's Downtown and City Center area. Sponsored by KimCo Realty, the projects will provide over 500 units of multi-family housing, community amenity space, and new retail to compliment the burgeoning shops sprouting along Capitol Ave. Notably, both projects transform what is primarily surface parking while maintaining the existing look and feel of the centers. While development will occur in phases over several years, when completed these projects will add significant vibrancy to the area and the opportunity to create a future "Restaurant Row." While there is much work to be done, the momentum of new project proposals demonstrates belief in the emergence of Downtown Fremont as a central gathering hub for the Bay Area's fourth largest city.
Exciting news! Fremont Bank's flagship branch and HQ in Downtown Fremont has officially opened, marking a major milestone for Downtown Fremont. Join in celebrating this momentous occasion at the upcoming grand opening ceremony and community block party at Fremont Bank on Saturday June 15. Stay tuned for more details.
Our Inaugural Fremont Engineering Expo was a major success! More than 900 attendees joined us in Downtown Fremont to celebrate our dynamic engineering and maker community.
Around 300 students from Fremont displayed their projects, showcasing creativity, passion, and technical skills. We were truly impressed by the ingenuity of these students and left feeling optimistic about Fremont's future. We also extend our gratitude to the Fremont businesses that took part in this event.
Local advanced manufacturing companies such as Delta Electronics educated students on future career opportunities in manufacturing. Gridscape discussed its microgrid project with our Fremont Fire Department, Tesla let attendees sit inside one of its vehicles, and Ohlone College promoted its Smart Manufacturing Technology program and other engineering education opportunities.
This event would not have been possible without the collaborative efforts of Berbawy Makers, Fremont Unified School District (FUSD), and Mission Valley ROP.
Interested in learning more about the Engineering Expo and Fremont’s role in inspiring makers and engineers? Read more.
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