Multinational technology firm Konica Minolta Business Solutions USA will be establishing a base of operations in downtown Riverside, city officials announced Thursday.
Konica Minolta officials recently signed a 10-year lease for 10,000 square feet in the Citrus Tower at 3390 University Ave. According to city spokesman Phil Pitchford, the lease is effective Aug. 1, with an option for the company to extend another five years.
The Citrus Tower is in the heart of the city’s Innovation District, which is also home to 1,700 other businesses, including GAR Laboritories, Luxfer and SolarMax. The California Air Resources Board also maintains testing facilities within the district.
“The city did an amazing job explaining the Innovation District’s value proposition and has provided tremendous support in our location decision,” said Lyon Peraji, vice president of marketing for Konica Minolta in Southern California. “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 company’s new office space will provide space for 75 employees, some of whom will be drawn from its current ranks of administrative and technical workers. And, there is the potential to expand Konica Minolta’s payroll by 25% in the coming years, officials said.
“We are excited to strengthen our presence in the Inland Southern California region and make Riverside — specifically the Innovation District — our new Inland headquarters,” Peraji said.
Konica Minolta, which is headquartered in Japan, manufactures industrial ink jets, X-ray machines and other diagnostic tools for the healthcare industry.
Mayor Rusty Bailey highlighted the knowledge base on which Knoica Minolta may be able to draw, particularly from UC Riverside, La Sierra University and Riverside City College.
“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,” he said.