♪ [applause]

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♪ ♪

♪ [applause] >> this next number, by a local composer, a victory celebration.

we can call it the final world premiere rehearsal. [laughter] ♪

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♪ [applause] ♪

can you feel the beat of my heart the questions i ask ♪

♪ we are the future ♪ ♪ can you see look in my eyes

can you feel ♪ ♪ show you the way show you the way ♪ [applause]

♪ >> i am proud of of the place in which he lives. i would like to see a man live with his place to be proud of him. abraham lincoln. >> where liberty dwells, there is my country. benjamin franklin. >> ♪ my country tis of thee sweet land of liberty of thee i see

land where my fathers died led freedom ring ring ring to be free >> freedom has its life in the heart. the action, the spirit of men, dwight d. eisenhower. >> we stand for freedom. that is our conviction for ourselves. that is our only commitment to others. john f. kennedy. >> ♪ free free ♪

>> give me your tired, your poor, your huddled masses, yearning to breathe free, the wretched refuse of your teaming shores, send these, your homeless, tempest tossed to me. i lift my lamp to the golden door. >> ♪

[applause] [cheers and applause]

>> good morning, everyone. i am the director of the mayor's office of economic and workforce development. we are here to announce the 10- year lease for river bed at 680 folsom st.. 167,000 square foot lease. we have the mayor, ceo of river bed, the owner of the building, as well as david from jll to talk of the significance of this to the city. >> thank you, good morning. welcome to the super bowl of innovation.

while we did not enjoy the other super bowl, we have been working on hours. i have always referred to san francisco -- and we continue to do this -- as the innovation capital of the world. riverbed's decision to sign a 10-year lease and to work with the city to renovate a building here in south market, to make sure they are staying and growing here is a reflection of not only their interest in making sure they continue to find talent that exists in the city, but that the city, working with our state interests as well as our i.t. companies, continue to do everything we can to make sure they feel comfortable and are creating jobs. every time you hear about a major company like river bed making a decision like this that is very significant, this is their headquarters, but it is

their global headquarters. to suggest a 10-year lease is important. they have over 500 people working today. this additional new space than they have signed a 10-year lease for has 160,000 square feet that will allow riverbed to grow and potentially add over 650 additional jobs on top of their 500. i.t. work is growing in the city. certainly, we want it to grow. we have a lot of i.t. solutions to be had. riverbed's technology is important, allows technologies to have i.t. management's -- companies to have a i.t. management from the date of filing to storage, all those wonderful things that technology people will have a much better

way to explain and i do. i do suggest to you that this is, yet again, another example of how we are working with ceo's to make sure that we sit down and talk. it was literally last fall that we sat down. we knew they were looking, they knew they were growing. it was not going to be in some other place that we would lose them to. we had some great partners. we just came together very well and focused on what we could do to make sure they stayed here. they know there is talent here. that is not a question. but are there other things that stabilized their ideas come interest to work here long term, and growing here, as we have had that philosophy. we want i.t. companies to stay

here and grow. as a result, we are evolving our policies on a weekly basis to continue attracting companies like riverbed, making sure they feel comfortable. the end result is more people get employed. you will see numbers continue to go down in our unemployment rate. it is at 7.6%, but i am guessing that it will go down further, hopefully, with all the companies that are still talking to us about what we can do to help them. as we do, they are hiring left and right. it is exciting for me to join today with jerry, let him explain what it is they do, in a very detailed way. again, it is the team, what the city does to make sure we stay as the innovation capital of the world. thank you very much for allowing me to announce this. we will have a chance to visit their bed soon. i think, -- river bed soon.

i think, once they get their release started, they will move in in 2014, and then that goes until 2024. i hope to see them continue to grow. we will be down there cheering them on, understanding more about the involvement of their products. >> riverbed started in 2002 and it is exceedingly gratifying from where i stand to see a company of its size and stature in the technology world, make a decision to remain in san francisco and to grow its global headquarters here. with that, i want to introduce the ceo of your bed. >> thank you. it is exciting for us -- we just announced this internally to our employees on friday. we sent around a photograph of the new building.

when you work in technology in the bay area, you realize every day it is a war for talent. we are fighting to get the best and brightest. it is all about and look for property, and that comes from the minds of the people we attract. we found san francisco is a key location for attracting that power. my business partner and i started the company 10 years ago. we will be passing 1700 employees worldwide, over 500 in the city. that number will grow and grow. starting on our second decade in the city and hopefully for a long time to come. we are a little unusual for technology companies in the city. many of them are web-based companies. we are a deep, in the strongest drink network technology company. we make heavy-duty equipment for the largest government and corporate networks. we are more like cisco foor othr

companies like that. i had to have some discussions with my early investors while i was not in silicon valley. i am glad we had that conversation, made the investment. we had a good run here. we just finished a quarter of $200 million, $800 million run rate. we hope to pass $1 billion soon and we soldier forward as we move into our new headquarters in downtown san francisco. >> we would not be here celebrating a police announcement without a building. i encourage you all to look at what 680 folsom street looks at today, juxtaposing it with these renderings. it is not only good for the economy, but for the urban landscape. i want to thank michael for his work to date for helping to transform this location. >> this is about the 20th

project we have done in san francisco. it is visually challenged in its current state, but we think we have put together a great design. our partners and others have hired the best architects with som -- one of the best, sorry. we are pleased with the design. both jerry and his company had decided to go here, but it was also the mayor and city office hoping to keep technology companies here. it is a joint effort. after you take up the skin of the building, it has amazing attribute that you have read about in our press release. 35,000 feet square plates. floor to floor slabs in the city, which is unusual. that tenants in this building will have some amazing space, some amazing views, and our r

ehab will be as good as anyone. we are happy to be involved with the city. thank you very much. >> it really did take a team of folks to bring this deal together. we had great assistance from david from lasalle in helping to close this deal for the city and riverbed. >> good morning, everyone. it was a real honor to represent their best technology in this transaction, a 14-month process. i want to thank and congratulate jerry and his real estate team for the pro-active way they have managed their headquarters, getting a head start. mike and his solid team of putting this building together. mayor lee and jennifer for the continued great work they are doing in helping us represent some of the leading technology companies, here in san

francisco. it is a real pleasure to be here. thank you very much. >> we are going to break and then the mayor will take questions. not at the podium.