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37 <br /> <br />3.5 ECONOMY <br />San Leandro has a diverse economy, with a substantial number of jobs in <br />manufacturing, wholesaling, retail, office, hospitality, health care, construction, and <br />personal and professional services sectors. During the post-war area, the City <br />invested in infrastructure to support significant industrial growth, including a <br />municipal sewer plant and wastewater collection system. Among San Leandro’s <br />major employers during the 1950s and 60s were Caterpillar, Dodge/Plymouth, <br />Friden Calculator, California Packing Corp, General Foods, Kellogg, Western Electric <br />and Hudson Lumber. Tax revenues from this strong industrial base enabled the City <br />to maintain a relatively low tax rate and provide a high level of municipal services. <br />While many of the traditional manufacturers are gone today, the City continues to <br />invest in infrastructure to support economic growth. Today the emphasis is on high- <br />speed data and communication. Investment in fiber optics systems continues to fuel <br />the growth of traditional industries such as food processing and manufacturing, but <br />with the added benefits and productivity of new technologies. <br />Several factors have contributed to San Leandro’s economic repositioning. The city <br />is centrally located in the Bay Area, has one of the fastest rates of internet connectivity <br />in the country, and has numerous transportation and freight options, including <br />interstate highways, ports, and airports. It has a business friendly reputation, a <br />skilled and diverse work force, and a substantial inventory of industrially zoned and <br />underutilized land. Prices in San Leandro are also competitive, making the city an <br />attractive investment and an excellent location for start-ups and emerging industries. <br />The number of jobs in the city was estimated by ABAG to be 43,000 in 2015. While <br />employment rose slightly between 2000 and 2005, San Leandro was hard hit by the <br />economic recession and experienced a net loss of approximately 7,000 jobs between <br />2005 and 2011. The city has rebounded since 2011, adding an estimated 3,400 jobs <br />in the last four years. <br />In 2010, about 22 percent of the city’s jobs were manufacturing and wholesale jobs, <br />compared to 15 percent countywide. The percentage of total jobs in manufacturing <br />has been declining in the city, while the percentage of jobs in the service sector has <br />increased. Retail jobs have remained relatively constant, representing about 16 <br />percent of the city’s jobs. The Economic Development Element of the General Plan <br />includes a complete profile of the local employment base, as well as a discussion of <br />labor force and labor characteristics. <br />ABAG projects that San Leandro will gain 13,000 jobs between 2010 and 2040, with <br />a total of 52,900 jobs projected for 2040. Some of this growth represents the <br />continued recovery of jobs lost during the recession, but much of it is net new growth. <br />The city has long recognized that its economic health was linked to a favorable <br />balance between the number of jobs and housing units in the community. In 2015, <br />there were about 0.96 jobs for each employed resident in the city. Although this <br />76