SR 06:064B - Laserfiche WebLink

Introduction The Economic Development Planning Process The City of Pleasanton, as it approaches build-out. is updating its General Plan, including strategic planning for land use, infrastructure, and fiscal vitality. As a result of this process, several key economic development issues have emerged, related to current and future economic trends, quality of life, and the enhancement of employment growth in the next 20 years. At the same time, the work of the Economic Vitality Committee (EVe) and City staff has increasingly focused on updating the City's economic development goals and policies. Thus, as part of the City's General Plan update, the City of Pleasanton commissioned an Economic Development Planning process in Summer 2005 and amended as part of the Draft Economic Development Strategic Plan in late 2005. Specifically, the economic development planning process is intended to guide policymakers and City staff in implementing economic development initiatives such as business retention, expansion, and attraction programs. The Economic Development Strategy will also outline cost-effective uses of the City's resources to strengthen and maintain the local economy. In addition, the Economic Development Strategy, combined with a fiscal/economic impact analysis for the City's General Plan process, will help inform decisions on land use and future development. To prepare the Economic Development Plan, the City engaged the services of Bay Area Economics (BAE) to work with the Economic Vitality Committee, community stakeholders, and City staff to conduct the following: . Analyze current economic trends and key industries . Identify opportunities for future economic development and job creation . Formulate economic development goals and strategies . Create an action plan to serve as a blueprint for implementation activities Purpose of Report This Background Report is the first step in the preparation of an Economic Development Strategy for the City of Pleasanton, and has been prepared to provide factual data and analysis of trends and conditions to inform strategic planning. The Report was developed by reviewing a series of published plans and reports. analyzing published and unpublished data, and conducting numerous stakeholder interviews. Published data sources included the U.S. Census, the State of California Employment Development Department (EDD). the State Board of Equalization (SBOE), Pleasanton's business license data, and private data vendors. In addition. BAE analyzed several unpublished data sources including special tabulations of confidential employment data by Pleasanton Economic Development Background Report RNAL - January 2006 1