May 30, 2014
The Environment Innovation Center project will support job creation for green businesses in San Jose.
San Jose, CA – The San Jose Environmental Innovation Center (EIC) – a model of sustainability and demonstration of the City’s commitment to sustainable design- will host a Ribbon Cutting Ceremony today at the project location of 1608 Las Plumas Avenue in San Jose, CA. Local officials, project sponsors, investors and partners will join Mayor Chuck Reed in celebrating the completion of the new 50,000 square foot facility.
EIC will provide laboratory, office, proto-type manufacturing and demonstration space for emerging clean technology companies. The LEED Platinum building will itself be a model of sustainability with solar PV panels installed throughout the project to generate all or most of the facility’s energy, a storm water mitigation system, a pervious sidewalk and LED street lighting.
“This project, through its programs and tenants, will create opportunities to stimulate growth, promote energy efficiency and create viable jobs in the San Jose Community” Said Bob Davenport, President of NDC “NDC is proud to partner on a project that supports the City of San Jose’s Green Vision Plan”
As part of the City’s Green Vision Plan to nurture emerging green technology businesses, EIC will integrate broad-spectrum workforce training opportunities for local residents seeking to enter the green economy. The EIC facility will be fully integrated with the City’s work2future program, to recruit and employ jobseekers from the low-income community. EIC will also partner with the Center for Employment Training (CET), a San Jose based nonprofit organization dedicated to fighting poverty and promoting self-sufficiency by making hands on training available to youths and adults in the area.
New Markets Tax Credit Equity financed the development of EIC. The National Development Council’s New Markets arm, HEDC New Markets, Inc., invested $7.35 million qualified equity investment in the $25.9 million project. This was combined with financing from Chase New Markets Corporation, Northern California Community Loan Fund, and Brownfields CDE to leverage the NMTC equity.