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in Pleasanton are held by businesses formed in the past two fiscal years. Business deaths exceeded births during the 2000 to 2002 economic slowdown, but this pattern dramatically reversed during 2003 to 2005, with new businesses formed more rapidly. For example, in FY 2004/05, Pleasanton saw the formation of 1,076 new firms (15 percent of all business licenses), and just 820 "deaths." This pattern of births exceeding deaths, and overall births forming such a vibrant part of the local economy, indicate a vital and healthy economy. It is also important to note that a large portion of new business formations in the past two years have been home-based, meaning that these firms are started by local residents in their homes. This significant pattern suggests that economic development strategies to assist working at home. such as flexible land use permitting and increased access to high-speed broadband services, will be important support for this vital part of the local economy. Table 16: Pleasanton Business Births and Deaths Births (New Licenses) Deaths ~ ILll1 ~ New Hnme ILll1 I!llmll. Year EiuDo. I ir:en!il.p.!iI. Ra!!;p.d Flrm~ EiuDo. - FY04/05 1,076 15% 685 820 387 FY03/04 1,115 16% 647 582 321 FY02/03 662 9% 358 n/a n/a FY01/02 349 5% 163 1,456 665 FYOO/01 324 5% 146 931 n/a FY99/00 361 5% 178 623 n/a Before 1999 3,182 45% 1,489 Total 7,069 3,666 Source: City of Pleasanton business license database, Bay Area Economics, 2005. Fiscal Vitality The quality of life in a community is partially attributable to the quality of the municipal services a city government can offer it citizens. General Plan decisions regarding land uses, transportation, public services, and economic development can all affect the fiscal vitality of the City's budget, and ultimately, its quality of life. This section provides basic analysis of the City's General Fund, with additional research to follow as the process continues. Like many cities across California, Pleasanton has faced a number of financial challenges in Pleasanton Economic Development Background Report FINAL - January 2006 25