Laserfiche WebLink
<br />52 <br />multi–family housing development, a new regional hospital, and the continued revitalization of <br />downtown San Leandro. <br /> <br />The recession resulting from the global financial and credit market meltdown in late 2008 <br />has had a direct and dramatic impact on the City’s local revenues. While there are some signs <br />of an economic recovery, it is very slow. The unemployment rate in the Oakland–Hayward– <br />Berkeley Metropolitan Division, of which the City is a part, was 4.9 percent in July 2016, up from <br />a revised 4.8 percent in June 2016, and below the year–ago estimate of 5.2 percent. This <br />compares with an unadjusted unemployment rate of 5.9 percent for California and 5/1 percent <br />for the nation during the same period. Tue unemployment rate was 4.8 percent in the County, <br />and 5.0 percent in Contra Costa County. <br /> <br />Despite the recession, the City’s economy has remained relatively strong. The City has <br />placed a strong priority on maintaining its industrial base – over 20% of the City’s land area is <br />zoned industrial – to take advantage of its close proximity to the Port of Oakland, Oakland <br />Airport and two major highways. The City’s industrial vacancy rates are among the lowest in the <br />region and the City has become a hub for specialty and food manufacturing. <br /> <br />San Leandro is also a net importer of sales tax revenue, due to the presence of its <br />thriving regional shopping centers and the San Leandro Marina Auto Mall. In order to increase <br />the local tax base, the Redevelopment Agency and a large number of local and regional car <br />dealerships created the Marina Auto Mall, taking advantage of a convenient location and access <br />to Interstate 880. The Auto Mall consists of 12 dealerships, and it has benefitted from industry <br />consolidation and remained almost completely occupied. Efforts to revitalize the downtown area <br />of the City have also begun to bear fruit, as major infrastructure upgrades and a branding and <br />marketing program are bringing new retail activity to the City’s historic core. <br /> <br />The following table shows civilian labor force and wage and salary employment data for <br />the San Leandro Metropolitan Statistical Area, which is within the County, for the past five <br />available calendar years. <br /> <br />