Economic Development
Committee Memorandum
TO: ECONOMIC DEVELOPMENT COMMITTEE DATE: JUNE 18, 2026 FROM: COMMUNITY & ECONOMIC DEVELOPMENT WARDS: ALL
DEPARTMENT
SUBJECT: MEMORANDUM OF UNDERSTANDING BETWEEN THE CITY OF RIVERSIDE, INSTITUTE FOR VETERANS & EMERGING TECHNOLOGY SKILLS (iVETS), AND STEMWORX, INC. FOR TECHNOLOGY AND WORKFORCE DEVELOPMENT ISSUE:
Receive report and recommend that the City Council authorize Mayor Lock Dawson, or her designee, to execute the Memorandum of Understanding between the City of Riverside, the Institute for Veterans & Emerging Technology Skills (iVETS), and StemWorx, Inc RECOMMENDATIONS:
That the Economic Development Committee:
Receive the report about the Institute for Veterans & Emerging Technology Skills (iVETS) and StemWorx, Inc.; and Recommend that the City Council authorize Mayor Lock Dawson, or her designee, to execute the Memorandum of Understanding, including making minor and non-substantive changes.
BACKGROUND:
The Institute for Veterans & Emerging Technology Skills (iVETS) is a 501(c)(3) nonprofit organization focused on workforce development, education, and career pathways in emerging technologies. iVETS specializes in establishing applied technology labs and providing training with a priority on veterans and underserved populations.
StemWorx, Inc. is a California Public Benefit Corporation (PBC) organized to build, modernize, and operate data centers. As a PBC, StemWorx is designed to deliver measurable public benefit and sustainable shareholder value, focusing on responsible infrastructure, ethical artificial intelligence, and inclusive hiring practices.
The proposed collaboration seeks to position Riverside as a regional hub for applied technology, artificial intelligence, and digital infrastructure while expanding equitable access to high-quality technology careers.
DISCUSSION:
The proposed collaboration between the city, iVETS, and StemWorx aligns with the City’s economic development priorities and regional initiatives to support innovation and sustainability.
The partnership is structured in two primary phases:
Phase I: iVETS Workforce & Program Operations
This phase focuses on launching iVETS’ nonprofit operations in Riverside, including workforce training programs and the establishment of an applied technology lab.
Phase II: Data Center & Infrastructure Development
This phase involves planning a data center and related infrastructure operated by StemWorx, with workforce integration through iVETS to provide experiential training environments.
Overview of Memorandum of Understanding
The proposed MOU serves as a non-binding framework for strategic collaboration and does not obligate the expenditure of funds or obligate the City to any future approvals. It does not create any entitlements, commit the City to any course of action, or obligate the expenditure of public funds. The document establishes shared principles and a phased, exploratory approach to technology-driven economic development, with all future actions remaining subject to the City’s sole discretion and standard review and approval processes. The MOU also establishes clear separation principles to ensure iVETS and StemWorx remain legally distinct entities.
Workforce and Economic Development Impact
The collaboration is expected to create high-quality career pipelines in emerging sectors like AI and digital infrastructure. iVETS will partner with public agencies and educational institutions to prioritize recruitment from veteran and underserved communities. StemWorx will provide infrastructure access for applied learning, ensuring that Riverside’s workforce is trained on modern, large-scale technology systems.
Utility and Sustainability Coordination
A key component of the collaboration involves coordination with Riverside Public Utilities (RPU) to assess energy capacity and explore innovative clean energy strategies. This ensures that infrastructure scaling for data centers remains aligned with the City’s long-term environmental stewardship and clean energy goals.
City Role and Scope of Collaboration
Under the proposed MOU, the City’s role is proposed to include coordination and facilitation activities, such as:
Exploring suitable office or commercial space for iVETS operations, Facilitating introductions with relevant departments and partners, Supporting site selection, permitting navigation, and workforce alignment; and Coordinating with RPU regarding power supply and sustainability strategies.
The parties will work together to identify and track key performance indicators and provide periodic updates to the City’s Economic Development Committee to ensure progress and transparency.
FISCAL IMPACT:
There is no fiscal impact associated with the approval of this Memorandum of Understanding. The MOU is non-binding and does not create a financial obligation for the City.
Prepared by: Miranda Evans, Interim Community & Economic Development Director Approved by: Mike Futrell, City Manager
Certified as to
availability of funds: Julie Nemes, Interim Finance Director Approved as to form: Rebecca McKee-Reimbold, Interim City Attorney Attachments:
Memorandum of Understanding
IVETS MOU ● Page 2