An empty lot in southeast Fresno could soon be home to “Innovation Village.”

A southern California developer is investing millions to turn the land into buildings that will serve as a hub to research and develop health care, construction, and cyber security technology. It will also include housing for the researchers.

Semiconductor Suppliers’ Technology Entrepreneur Parks Inc., or SSTEP, is an economic developer with an office in Rosemead. At least $15 million will be invested, Mike Betts, CEO of Fresno-based Betts Company, said. His company is a local collaborator with SSTEP.

“This is a sizable economic growth opportunity when you consider the companies that will be working with joint venture partners here,” Betts said.

Fresno’s ecosystem — collaborative opportunities with the city and educational institutions — and the city’s demographics helped Fresno land on SSTEP’s radar, Betts said.

“We have a lot of different ethnicities here and it models much of what they see elsewhere for innovation projects. So we’re investment worthy,” Betts said.

SSTEP, through its entity Innovation Village F1, LLC, purchased the property on Peach Avenue, south of Tulare Avenue.

Betts said a groundbreaking could be as early as next year, with 12 to 15 months construction time.

An Economic Boost With Foreign Investment

“We’re looking to bring companies from Asia that will partner in joint venture projects with companies here,” Betts said.

That includes firms in Taiwan.

“Timing is everything. And with our new leadership in Washington, trying to bring more investment here out of Taiwan especially is a big deal,” Betts said.

At last month’s State of the City luncheon, a delegation from Taiwan joined Betts and SSTEP to hear Mayor Jerry Dyer’s vision for Fresno. The company specializes in digital health technology.

Betts believes the project could yield hundreds of millions in economic output.

“We’re taking a product or an idea and we’re turning it into a manufactured sellable product. So that’s where the monetary jobs, jobs of the future really come in,” Betts said. “The end game is a new product that people haven’t seen before, and it does things that people are excited about — that are game-changers in society.”

Dyer praised the project and its economic benefit.

“It stimulates our economy locally and it diversifies our economy. In this case, to create an innovation hub that allows for new technologies to be developed to address a particular need in the community is important. And I believe that Fresno is right for outside investment,” Dyer said.

Betts said a delegation will visit Taiwan in the fall.

SSTEP Quiet on Future Project

SSTEP said they are “not quite ready” to talk about the project, but will in the future.

The developer mentions the Fresno project on its website.

“Our site will serve as a pilot for advanced building technology, developing new methods for constructing modular housing efficiently and sustainably, potentially reducing the carbon footprint during the building process,” SSTEP said.

SSTEP has worked on projects in Phoenix and southern California. The company has participated in several semiconductor industry events.

“This community will also feature diverse technology incubators and common spaces intentionally designed to nurture innovation and technological collaboration,” SSTEP said on its website.

Fresno State Involved

Innovation can come in construction, agriculture and health care, Betts said. Fresno State will also be a partner.

“Fresno State has engaged in discussions with representatives of SSTEP on the Innovation Village concept, and there are opportunities for collaboration between the university and community development groups. While we look forward to partnering with them, in the current environment with the state funding cuts, Fresno State is exploring possibilities of external funding before we can take the idea beyond a conceptual state,” Provost Xuanning Fu told GV Wire.

When SSTEP and Taiwanese representatives visited Fresno last month, they also stopped by Fresno State. University President Saúl Jiménez-Sandoval hosted them for an event.

“Huge thanks to John Leung from SSTEP and Pete Weber for connecting our leadership at California State University, Fresno with the Taiwan Delegation focusing on cyber security and healthcare applications, all enhanced by the power of AI,” Jiménez-Sandoval wrote. “I look forward to strengthening the collaborative ties between Fresno State and Taiwanese companies.”

SSTEP and other Asian business leaders have made multiple trips to Fresno State in the last year.