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<br />Pleasanton has a stable and diverse economy, with strong job growth and an <br />increasing entrepreneurial sector. <br /> <br />. Pleasanton's economy has a broad distribution of jobs among high wage <br />professional sectors including professional, scientific, technical. administrative. and <br />information related jobs. These sectors have seen strong growth since 2002 <br />creating over 3,300 new jobs. <br /> <br />. Analysis of business license data indicates the underlying strength of the small and <br />home-based business segments in Pleasanton, with more than 2,000 new <br />businesses formed in the past two fiscal years. At present, new business formations <br />outpace business cessations. a positive indicator of a healthy economy. Thus, <br />despite the widely publicized impacts of large corporate ownership change and <br />layoffs, Pleasanton's economy is flourishing at the vital start-up level. The recent <br />sale and leasing of significant amounts of office space and buildings to new investors <br />suggests the private markel's confidence in Pleasanton as a location for office-based <br />businesses. <br /> <br />. Pleasanton's jobs attract workers from throughout the region and Central Valley. <br />Analysis of 2000 Census Transportation Planning Package (CTPP) data shows the <br />employees in Pleasanton have a median household income of just under $90.000 <br />and workers living in lower earning households are generally commuting from the <br />Central Valley (these in-commuters have a median household income of $70,000) or <br />from elsewhere beyond the Tri-Valley (these in-commuters have a median <br />household income of $83.000). In general, these in-commuting workers live in <br />households that cannot afford to live in Pleasanton. <br /> <br />Current real estate market conditions in Pleasanton for both office and industrial <br />space suggest a recovery period, with rising lease rates and strengthening <br />occupancies. <br /> <br />. Current real estate market conditions vary among communities in the Tri-Valley, and <br />among different types of office and flex space. <br /> <br />. Pleasanton generally experiences stronger lease rates and higher occupancy rates <br />than other Tri-Valley communities. <br /> <br />. Although the office market experienced weakness as the economy softened after <br />2001, recent trends for both Pleasanton and the Tri-Valley show an uptick in <br />occupancy rates and lease rates, both positive indicators of general commercial real <br />estate recovery. <br /> <br />Pleasanton Economic Development Strategic Plan <br />DRAFT - January 2006 <br /> <br />6 <br />