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2. ECONOMIC AND FISCAL ENVIRONMENT This chapter provides an overview of the City's local economy and fiscal environment that affects new development trends and their impact on the City. Pleasanton Socioeconomic Overview Pleasanton is located in the Tri-Valley region of the San Francisco Bay Area at the crossing of two major freeways, I-680 and I-580. ' It has a population of 73,000 residents and roughly 53,000 jobs. t The City's evolution into a regional hub for single-family ownership �` housing, office, and retail space has been driven by its strategic P Y 9 location, high quality of life, BART expansion, and effective land use policies. Pleasanton experienced rapid population growth during the 1980s and 1990s with much success attributed to a Downtown Pleasanton Source: Tri-Valley Convention& variety of desirable community attributes, including good schools, Visitors Bureau low crime rate, recreational amenities, and an attractive, pedestrian-friendly downtown. Pleasanton's residents are educated and affluent relative to Livermore and Alameda County as a whole. Over 58 percent of Pleasanton's residents hold a college degree compared to 41 percent in Livermore and 42 percent in Alameda County (see Table 1). Pleasanton's median household income reached nearly $115,200 by 2010 with the City registering one of the highest median household incomes in the Bay Area. This trend suggests that the City has been successful in attracting educated and relatively affluent households. Table 1 Population by Educational Attainment Pleasanton Livermore Alameda County Education Level Total Share Total Share Total Share No High School Diploma 2,422 5.0% 6,302 11.1% 140,983 13.3% High School Graduate 5,763 11.9% 8,629 15.2% 193,984 18.3% Some College 9,033 18.7% 13,114 23.1% 201,405 19.0% Associates 2,979 6.2% 5,365 9.5% 74,732 7.1% Bachelors 17,387 35.9% 15,016 26.5% 268,716 25.4% Master's/Advanced Degree 10.849 22.4% 8.345 14.7% 180.204 17.0% Total 48,432 100.0% 56,772 100.0% 1,060,024 100.0% Population Over 25, 2012 Source:20012 American Community Survey(ACS),and Economic&Planning Systems, Inc. Economic&Planning Systems, Inc. 5 P:\121000\121062Pleasanton\Report\121062Report_FINAL.doc