Oakland 

 

 

Economic dev

Over the past several years, the Bay Area’s remarkable growth and shifing cultural preferences for urban living have converged to dramatically alter Oakland’s economic and demographic landscape. In general, our labor force has grown, unemployment has dropped, and the number of high school and college graduates has increased. Additionally, our real estate market — residential and commercial— is growing quickly while vacancies dwindle.

 

Economic Security Enable all residents to be economically secure, build wealth, and achieve their full potential Equity and Diversity Reduce racial and gender gaps in employment, income, and ownership; maintain diversity Growing Good Jobs Help businesses to thrive so they can preserve and add living wage jobs Fiscal Sustainability Expand the City’s revenue base to better fund services and community investment Eficiency Optimize public benefits from limited public resources Shared Responsibility Recognize that economic development is a City-wide responsibility shared by many departments Collaboration Support internal collaboration and external partnerships Transparency Increase community awareness and engagement

 

To support our high-level objectives, the City has set the following key specific and measurable goals for the next three years:

 1. We will support more than 1,000 businesses each year

 2. The economy will add 2,800 jobs each year 

3. We will give 12,000 Oakland residents access to job training services each year 

4. We will achieve a 90% business satisfaction rating for the City’s assistance and services

 5. We will support the construction of more than 4,250 new homes, including 1,200 below market rate homes and permanent supportive homes for the homeless, while protecting 5,000 households from displacement 

6. Our public-private development investments will earn $30 million in one-time revenues and $16 million in annual City revenue to fund City services and programs

 7. We will spend $120 million on transportation and other public infrastructure - including repaving 1,100 City blocks - and other City facilities, including fire stations, libraries, and recreation centers

 8. We will conduct a Racial Equity Analysis to evaluate existing conditions, analyze impacts, and maximize positive outcomes for communities of color, English learners, and low income communities. 2 Oakland’s per capita gross regional product includes earnings, income, and tax revenue. 3 Currently, 25% of Oakland households receive wages less than $26,000 year, according to US Census data. 4 Asset poverty is a household’s inability to access wealth resources that are suficient to provide for basic needs over 

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