SR 06:064B - Laserfiche WebLink

Summary of Economic Trends Competitive Strengths Pleasanton's demographic trends indicate a stable, affluent residential community characterized by high household incomes, low unemployment, strong educational attainment, and a concentration of middle-aged residents. As the community's residents continue to age in place, there may be reductions in the proportion of children, and some long-time residents with changing needs may seek different types of housing. . One of the most distinctive characteristics of Pleasanton's adult population is the high level of educational attainment. Over 56 percent of Pleasanton residents hold at least an associate degree or higher. compared to just under 42 percent for the Bay Area and less than 25 percent nationally. Almost 16 percent of Pleasanton's residents have completed a graduate or professional degree. This feature of Pleasanton's residents is an important competitive advantage because many employers seek a highly skilled, educated labor force. . The high quality of public schools is another important competitive advantage. The community is served by the nationally recognized Pleasanton Unified School District (PUSD). Every PUSD school has received a rating of nine or ten (on a scale of one to ten) in statewide testing. This high rating attracts residents seeking quality education for their children, and in turn, also attracts employers seeking a community with a skilled workforce and strong quality of life. . Pleasanton residents tend to be concentrated in the middle age ranges. In 2005. approximately 29 percent of Pleasanton's population was between age 45 and 64, compared to 26 percent of the Bay Area. Pleasanton also contains substantial proportions of children; 27 percent of Pleasanton's residents were age 17 or below, compared the 22 percent for the Bay Area in 2005. At the other end of the spectrum, the senior population (65 years and older) in Pleasanton was substantially less concentrated than for the Bay Area overall: Pleasanton's seniors represented 9 percent of total population, compared to 12 percent for the Bay Area. These proportions of middle-aged adults living primarily in family households influence demand for retail. entertainment, and dining options. Moreover. as the adult population ages in place, their housing needs will change, likely creating demand for a wider variety of housing types. . With median income at an estimated $107,219 in 2005, Pleasanton is among the most affluent communities in the Bay Area. The distribution of income among Pleasanton Economic Development Strategic Plan DRAFT - January 2006 3