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40 City of San Leandro | Economic Development Initiatives and Work Plan | December 2013 <br /> <br />Founded in 1945, as a way for the region’s business community and like-minded individuals to <br />concentrate and coordinate their efforts, the Bay Area Council is widely respected by elected <br />officials, policy makers and other civic leaders as the regional voice of business in the Bay Area. <br />Today, more than 275 of the largest employers in the region support the Bay Area Council and <br />offer their CEO or top executive as a member. <br />Accomplishments To-Date: In 2012, San Leandro staff made a presentation about Lit San <br />Leandro at the Bay Area Council’s U.S. – China Smart Cities Symposium. <br /> <br />Foreign Trade Zone Expansion – A foreign-trade zone (FTZ) is a geographical area, in or <br />adjacent to a major seaport, where commercial merchandise, both domestic and foreign <br />receives the same customs treatment it would if it were outside the commerce of the United <br />States. Merchandise of every description may be held in the Zone without being subject to <br />Customs duties and other ad valorem taxes. This tax relief is designed to lower the costs of U.S.- <br />based operations engaged in international trade and thereby create and retain the employment <br />and investment opportunities that result from those operations. There are over 230 Foreign- <br />Trade Zone projects and nearly 400 Subzones in the United States <br />Accomplishments To-Date: Presently, the City of Oakland is the grantee of a foreign trade zone <br />license that is managed by Matson Navigation. The Oakland Foreign Trade Zone i s <br />headquartered at 9401 San Leandro Street in Oakland. San Leandro staff is actively exploring <br />options to create a subzone in San Leandro (which could be limited to as little as one company) <br />or participating in the expansion of the Oakland FTZ to include s ome or all of San Leandro. <br /> <br />Support Economic Development Financing Legislation – With the demise of <br />redevelopment in California, funding for economic development and infrastructure has become <br />extremely limited on the local level. Several bills have been introduced in the State Legislature <br />to provide new tools for financing these efforts. <br />Accomplishments To-Date: Working with the League of California Cities and our <br />representatives in the Legislature, San Leandro is working to monitor the progress of these bi lls. <br />As bills move closer to adoption, staff will provide updates to the community and City Council, <br />and the City may opt to officially support some of them. <br />