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New analysis from an economic research firm predicts Aggie Square at the �������� Sacramento campus will add nearly $5 billion to the Sacramento region’s economy each year and support 25,000 ongoing jobs.

Design for the first stage of the project, a partnership between the University of California, Davis, the city of Sacramento and developer Wexford Science & Technology, has just been completed, as has an economic impact report, developed by Economic & Planning Systems.

‘Poised to be an economic engine’

The report also predicts an additional $2.6 billion in one-time economic impact, with more than  15,000 job years — the equivalent of 15,000 people working in one year — generated from Aggie Square’s two phases of construction.   

“When we launched the Aggie Square project in 2018, our goals included bringing economic and workforce development to the Sacramento region,” said �������� Chancellor Gary S. May. “I’m thrilled to see this coming together in Phase 1 — bringing the university, the community and industry together to better connect and collaborate.”

“‘Knowledge Communities’ like Aggie Square can amplify the talent, ideas, and innovation of a strong research university like ��������, and extend them into products and services that improve the human condition and create job opportunities for residents and economic development impact for the Sacramento region,” said Jim Berens, founder and CEO of Wexford Science & Technology.

Sacramento’s Mayor Darrell Steinberg emphasized the immediate and long-term benefits of the project. “Aggie Square is poised to be an economic engine in Sacramento, bringing jobs and resources to the region at a time when investment in our city is critical to our future. By being a part of the process, the City of Sacramento can make sure the community benefits and is connected to the project in a meaningful way, and that young people growing up in our neighborhoods will get the training they need to be first in line to fill jobs at Aggie Square when they become a reality.”

The analysis is based on newly released project designs from Wexford, the private developer partner �������� selected in December 2019 to build Aggie Square.

New revenues for city and county

Since Aggie Square’s unique public-private partnership model leverages private investment, the project will also generate nearly $5.1 million annually in new revenues for the city of Sacramento for Phases 1 and 2, and nearly $3.1 million in new county revenues.

Notably, the annual economic impact and city revenue estimates included in the report do not capture the spin-off economic benefits and shared wealth creation that will come from start-ups that “go big,” business growth extending beyond Aggie Square, company relocations to the region at sites other than Aggie Square, and catalytic innovations and inventions sparked by the ecosystem at Aggie Square.

Details on scope and nature of project

The new designs developed by Wexford and �������� provide important details on the scope and nature of the project. Phase 1 of the project is approximately 1.2 million square feet and comprises: a lifelong learning office and classroom building; two science and technology buildings; housing, primarily for students; community serving uses; a parking structure; and public spaces. Each building is anchored by �������� programs and configured to co-locate private industry investment, robust “innovation infrastructure” for startups, as well as community-based partnerships.

Wexford is taking the lead on financing for the project, investing $1.1 billion in �������� and Sacramento by building Aggie Square’s first phase. �������� will be a major tenant, alongside industry partners and community-facing programs in areas that complement university research and operations.

Community-focused offerings

As a public-private partnership, the Aggie Square model allows the university to increase its community-focused offerings that would not be available by simply expanding the university’s medical center.

The social benefits of the project are taking shape, said Robert Segar, planning director for Aggie Square. “Programs that can create healthier food access for schoolchildren, such as the Alice Waters Institute for Edible Education, are the kind of partnerships that exist because the university is involved.”

Added Segar, “We have an opportunity, through Aggie Square, to deliver new value to our communities and to create a roadmap for people across the street and across the region to better access the resources of this great university.”

Comment from other key figures

Other key figures in the city, county and state offered enthusiasm for Aggie Square.

Councilmember Eric Guerra (District 6) — “The Aggie Square project will have significant impacts for the surrounding neighborhoods and region in the short and long term. A critical partnership with �������� and the community stakeholders will ensure that the benefits materialize for the surrounding communities for better jobs, housing and local opportunity.”

Councilmember Jay Schenirer (District 5) — “It’s exciting to see �������� and the City working together on a project that will ultimately bring jobs and increased economic prosperity to the region. We must also keep in mind the need for affordable housing and local employment to ensure positive impacts for those in the surroundi