June 17, 2003

Contact:

Lisa Bruner
Joint Venture: Silicon Valley Network
(408) 278-2294 or bruner@jointventure.org

Joint Venture Launches Revitalization Study of El Camino Real and Monterey Highway for 20 Cities and Two Counties Along the Valley's Central Economic Corridor

San Jose, Tuesday, June 17, 2003 - Responding to a request from the communities along El Camino Real and its southern extension known as the Monterey Highway (Route 82), Joint Venture: Silicon Valley Network is launching a study today to help revitalize the Valley's central economic corridor.

"The Main Street Silicon Valley Project offers an opportunity for Silicon Valley communities to identify common issues and interests, develop new ideas through collaboration and create a shared vision for our regional community," says Marguerite Wilbur, President and CEO of Joint Venture. "Everyone has a stake in revitalizing this regional asset."

Recognizing the opportunity to develop collaborative approaches to managing this regional resource, the Economic Development Roundtable of Joint Venture, representing more than thirty cities and two counties, created the Main Street Silicon Valley project. Funding for the project was generously provided by The James Irvine Foundation. Participating cities within the region and other stakeholders will provide in-kind support and technical assistance. Two of Joint Venture's Directors - Rose Jacobs Gibson, President of the San Mateo County Board of Supervisors, and Frank Benest, the City of Palo Alto's City Manager, are leading the effort.

"El Camino Real/Monterey Highway is the 'Main Street' for Silicon Valley. But as a State highway we have little control of this critical connection," says Frank Benest. "This project will bring together Silicon Valley communities so we can collectively develop shared solutions; address issues related to traffic, housing, aesthetics and economic vitality; and work with the State to remove obstacles to our success."

The Main Street Silicon Valley Project will produce:

a summary of the corridor's existing conditions by November 2003;
a collection of best practices in February 2004,
findings from four pilot projects in April 2004;
regional guidelines in May 2004; and
a final report in June 2004.
The final report will provide Silicon Valley communities with a regional resource of tools and information and region-wide agreements on standards, best practices and model solutions.

"Our region has always been innovative when it comes to business and technology," says Rose Jacobs Gibson. "The Main Street Silicon Valley Project is a great example of our innovation in leading collaborative efforts across jurisdictions and building partnerships between the public and private sectors."