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6 City of San Leandro | Economic Development Initiatives and Work Plan | December 2013 <br /> <br />While the number of San Leandro businesses & employees decreased by 9.5% and 13.5% <br />respectively between 2005 and 2011, businesses and employment are currently growing again. <br />The City tracked nearly 160 new business starts in San Leandro since last year. The <br />unemployment rate for San Leandro has also shown substantial improvement, recently <br />dropping below 7.0% down from a high over 11% in 2010. Finally, property values have been <br />rebounding strongly, with residential values jumping more than 25% in the past year. <br /> <br />To provide a snapshot of the local economy, the following is a list of other important economic <br />indicators for San Leandro (arrows = directional trend): <br /> Unemployment: 6.9% <br /> Warehouse Vacancies: 5.5% <br /> Manufacturing Vacancies: 7.4% <br /> Median Home Price: $407,000 <br /> Building Permits: 8.7% <br />Sources: City of San Leandro and Business License database, California Economic Development Department, <br />Cassidy Turley/ BT Commercial, 2010 Census, California Association of Realtors - 2013 Forecast. <br /> <br />Targeted Industries and Growth Opportunities <br /> <br />San Leandro is a choice Bay Area location with unlimited p otential for entrepreneurial <br />companies, precision and specialty foods manufacturing, clean tech and just-in-time <br />distribution/warehousing. Below are the major economic development strategic advantages <br />and challenges facings San Leandro: <br /> <br />Strategic Advantages: <br /> Centrally located in Bay Area with shoreline redevelopment potential <br /> Fiber optic infrastructure via Lit San Leandro <br /> Numerous transportation/freight options: <br />o Oakland International Airport <br />o Port of Oakland <br />o AC Transit <br />o BART <br />o San Leandro LINKS <br />o Union-Pacific rail <br />o I-880 and I-580 <br /> Available property for small to large businesses <br /> Business friendly city government <br /> Workforce that is diverse, skilled and educated <br /> Successful retail and strong shopping destinations