Riverside, Calif. – Konica Minolta Business Solutions U.S.A., Inc., a division of the Japanese conglomerate Konica Minolta, Inc., a multi-national technology company with presence in 150 countries worldwide, is joining a growing list of companies moving to Riverside to be part of the City’s newly-formed Innovation District.
“We are excited to strengthen our presence in the Inland Southern California region and make Riverside – specifically the Innovation District – our new inland headquarters,” said Lyon Peraji, Market Vice President for Southern California, Konica Minolta.
“The City did an amazing job explaining the Innovation District’s value proposition and has provided tremendous support in our location decision. This move will improve our efficiency, collaboration and competitiveness, and with close proximity to many cultural and entertainment amenities, will provide an exceptional work environment for our current and future employees.”
The Konica Minolta relocation is the latest addition to Riverside’s Innovation District. The District was called for by Mayor Rusty Bailey and created through an action by the Riverside City Council to spark innovation, spur economic development, inspire investment, provide quality jobs, and enhance quality of life for local residents.
The Innovation District is located in a three-square-mile area that includes part of downtown Riverside, portions of North Main Street, an industrial area north of Third Street near the 60/91/215 freeway interchange, packinghouses just east of downtown, the Eastside neighborhood and UC-Riverside, including the new home of the California Air Resources Board labs and testing facility.
Konica Minolta signed a 10-year lease, with one 5-year option to extend, for approximately 10,000 square feet in the Citrus Tower Class “A” office building, located at 3390 University Avenue in downtown Riverside. Beginning in August 2019, the new inland headquarters will house 75 of Konica Minolta’s corporate, administrative and technical staff and will, over time, allow it to grow and expand to 100+ employees over the next 2-3 years.
“This is one example of the job growth that we are seeking through the creation of the Innovation District,” Mayor Rusty Bailey said. “We are fortunate to have so many assets located within our Innovation District, which positions us well for additional economic growth within the district in the future.”
The Innovation District offers companies many advantages, including: the energy of Riverside’s 24-hour downtown; the convenience of two Metrolink stations providing direct access to a large and extensive employee talent pool throughout the Southern California region; and an area with a strong history of entrepreneurship.
Roughly 1,700 businesses already make their home in the Innovation District, including large employers like SolarMax, Luxfer, the California Air Resources Board labs and testing facilities, and GAR Laboratories. The District also benefits from the intellectual resources and student talent pool at UC-Riverside, Riverside City College (RCC), the Riverside Unified School District (RUSD) STEM School, the Encore High School for the Arts, the Riverside Arts Academy, and the UCR Medical School.
“It’s exciting that a leading technology company with such an outstanding reputation has chosen Riverside, and more specifically the Innovation District, as the home for its new inland headquarters,” Mayor Pro Tem Andy Melendrez said. “I’m confident that Konica Minolta will play an integral part of our innovation ecosystem for years to come.”