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4. SUSTAINING LOCAL ECONOMIC GROµTH The objectives of this program area are to diversiA- San Leandro's economy and increase local employment by encouraging and facilitating the retention and expansion of existing businesses, and the attraction of new businesses to the Cite. Through this process, the Cit\ will seek to maintain a broad -based economy that provides a wide range of employment opportunities and at the same time expands the local revenue base to better finance service: for businesses and residents. The actions contained in this strategy area address two of the EDAC's vision elements. including A Sustainable Community, and A Diversified Economy. There are many possible turning -points in the life cycle of a business, including start-up. growth, stabilization, relocation. decline. and closure. Businesses may not go through all of these stages. and they may go through some more than once. The local community has a considerable amount at stake as a business approaches each of these junctures. If a business is established locally, or if it grows or stabilizes locally, the community will benefit from jobs and investment. If the business declines, closes. or relocates to another place, the community will suffer. While a local community cannot influence all business outcomes in its favor, it is important that the City of San Leandro adopt a proactive stance that will allow- it to maximize its opportunities to assist businesses that have the potential to help the communir< achieve its interlinked goals of sustainabiliry and economic diversification. The actions presented in this chapter have been arranged into ttiyo categories. followin_ the traditional goals of local economic development: Business Retention and Expansion. and Business Attraction. These categories. along with prelim, nan recommendations regarding sectoral targeting of retention. expansion. and attraction efforts are described below. Business Retention and Expansion Business retention involves working with businesses that are already located in San Leandro to help ensure that they remain and thrive in San Leandro. Targeting businesses for retention efforts can be done at both the sectoral level, and at the individual firm level. Regardless. an important concept is to focus on those businesses whose departure could have a particularly adverse impact on the local economy. This usually suggests concentrating on sectors and individual firms that employ large numbers of workers or generate large quantities of local revenues. Most actions suggested below will help to retain and encourage expansion of businesses in a broad range of industries, not only those specifically targeted for retention or expansion.