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2. SUMMARY OF ECONOMIC DEVELOPMENT ISSUES The San Leandro Economic Development Baseline Study was completed in August. 199;. The purpose of that study was to develop a basic understanding of the existin_ San Leandro economy. and to identify economic development challenges to be addressed in this Strategy and Work Program document. The Baseline Study included a number of different types of research to help inform the development of the City's Economic Development Strategy and Work Program. including: • analysis of local demographics and housing characteristics • evaluation of the City's current economic composition • assessment of San Leandro's business identity, including existing strengths and weaknesses • analysis of local retail. office. and industrial real estate market conditions • inventory and review of development opportunity sites There are four fundamental conclusions from the Baseline Study: 1) San Leandro has a strong and diverse economy that is well -positioned to sustain continued job growth. 2) The Cit` can best accommodate this growth through efficient reuse or redevelopment of existing commercial and industrial areas: 3) San Leandro needs to continue focusing on maintaining and improving the local "quality of life" so that the Cite remains an attractive place to live and do business for a diverse range of people: and 4) Overall. the local sales tax revenues which are so crucial to funding local public services are declining due to loses in non -retail sales transactions which have not been offset by the City's steady growth in retail sales tax revenues. Listed below are several of San Leandro's key strengths and weaknesses. as identified during the course of this project: Strengths: • strategic regional location with excellent transportation access • relatively affordable industrial real estate • identity as one of the rei -on's primary centers of manufacturing activity • good local pool of production workers • perceived to be a generally business -friendly cir% • attractive. relatively affordable housing stock • critical mass of established regional retail activity attractive to both shoppers and new retailers 2i 6