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Mayor Lee Announces new milestone In Tech Industry Growth in San Francisco

August 8, 2011

Mayor Edwin Lee

San Francisco, CA— Today Mayor Edwin M. Lee toured RocketSpace, a rapidly expanding tech co-working space in the SoMa (South of Market) neighborhood and met with representatives of dozens of San Francisco technology companies. During the visit, Mayor Lee announced that for the first six months of 2011, more than 4.6 million square feet of office space was leased in San Francisco, according to data from real estate firm Jones Lang LaSalle. Of the more than 4.6 million square feet, 1.6 million square feet of office space was leased by technology firms. RocketSpace also announced expansion plans for a new 150,000 square foot co-working space in San Francisco.

“San Francisco is a place for big ideas, where entrepreneurs and innovators from around the world come to build great companies,” said Mayor Lee. “From day one I made jobs and the economy a top priority. Today’s milestones underscore the success of our economic development strategies to help tech companies start here, grow here and stay here. Co-working spaces like RocketSpace serve a critical role, driving new company creation and expansion in San Francisco.”

Located at 181 Fremont Street in SoMa, RocketSpace is rapidly expanding in San Francisco. RocketSpace currently occupies 32,000 square feet and recently leased an additional 10,000 square feet in a neighboring building.

“I founded RocketSpace in San Francisco because there is simply no better place for an ambitious entrepreneur to build a game changing tech company,” said RocketSpace CEO Duncan Logan. “RocketSpace is unique because we focus our efforts on attracting the best quality tech clients into our network. We’re growing in San Francisco because the demand to enter our ecosystem is substantial and the support network to ensure our clients success sits on our doorstep.”

Today’s milestone announcement follows the implementation of key initiatives of Mayor Lee’s Start Here, Grow Here, Stay Here economic strategy. The Mayor’s leadership in partnering with the Board of Supervisors on the Central Market Payroll Tax Exclusion and Stock Option Payroll Tax Reform has made San Francisco a more competitive environment to attract, retain and grow the tech industry.

“The San Francisco tech sector is strong, growing and driving job creation in the City,” said Office of Economic and Workforce Development (OEWD) Director Jennifer Matz. “San Francisco offers tech companies an entrepreneurial ecosystem second to none with a deep pool of top talent, access to capital and a tech community featuring the world’s leading firms.”

To date San Francisco tech company leases have included:
· Kabam – In March, Kabam, the growing social game developer, leased a 25,000 square foot office downtown; Kabam will create 150 new jobs.
· Autodesk – In April, Autodesk, the 3D-design, entertainment and engineering software company, announced it was adding 16,000 square feet at its offices at One Market Street and adding 75 new jobs bringing Autodesk’s total footprint in the City to 115,000 square feet.
· Twitter – In April, Twitter announced they were staying in San Francisco and leased 200,000 square feet on Central Market, the largest tech deal of the year so far.
· Mozilla – In April, Mozilla, the maker of the Firefox web browser, announced they were opening their first office in San Francisco. The new 15,000 square foot office provides space for up to 125 paid staff and volunteers to gather and collaborate on developing Firefox.
· Zendesk – In June, Zendesk, which provides cloud-based help desk software, announced that they were moving to a 16,000 square foot headquarters on Central Market from a smaller SoMa location and plans to hire more than 70 new employees this year.
· DropBox – In July, DropBox, tech startup that helps to sync files across different devices, announced a lease for a new 85,000 square foot headquarters, the second largest tech lease in San Francisco this year.

About RocketSpace

Based in SoMa, RocketSpace is a “techcelerator” offering flexibility and support for fast growth technology companies. The RocketSpace ecosystem is built on post incubator and seed funded startups who sit alongside larger fast growth companies. RocketSpace is the center for innovation and technology bringing together the best companies along with venture capital, legal and other affiliated support services. While providing real estate, RocketSpace believes the team is more important than the stadium for amazing results. For more information

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