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<br />XI. ECONOMIC AND FISCAL ELEMENT
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<br />PURPOSE
<br />
<br />The purpose of the Economic and Fiscal Element is to <,n<llT<' Iht' f:ily rt'l"in, it, 'Imng ('cnnomic.
<br />pn~itinn whil~ ~1I...t!linine itc,;plf r.<;'C:!llly throllCh prnemm... that enhance the community's economic base,
<br />maximize the effectiveness of the City's public facilities, maintain a stable City revenue system, recover
<br />the cost of public scrvicc5'lIIJ fd\..ilit;\,;;:) at General Plan Lu;IJuul. dlld alllludlly Laldl".,\'; tlll,,;hllild nllt
<br />minimi7f' lip-mom I Flinn dp.ht nnd producE':1 h:ll:mcp.d finmml City budget.
<br />
<br />LOCAL ECONOMY
<br />Historical Perspective
<br />By the time Plcasanton incorporated in 1894, it had grown from a homesteading settlement along the
<br />transcontinental railroad into a community with an agrarian economy based on dairies, roses, grain,
<br />hay, and hops. It generally stayed this way until the 1960', dllJ 1970', I QhO, and I ')70, when it evolved
<br />into a suburban bedroom community with a population base to attract jobs. Kd;'~1 1.1",";",,", dllJ
<br />
<br />(11\...111;\..,,1, CIUIUh Tl";dlll;,,,al C\..lIkl, dllJ Fallll\,;l;) III;)Uhlln...\,; lu\,.akJ ill rk.l1;)aIlLulI JUlin!:; tl.i;) t;III\;. By
<br />
<br />the 1980's. available land and proximity to 1-580 and 1-680 attracted additional dcvelopment. Seven
<br />major business parks, a regional shopping mall, five hotels, and a variety of rctail, office, and service
<br />centers were constructed. A;) d n..;;'>ull,The rily find it... f'l11plnymt"nt ha<;,e.: en'w mpinly with Pleasanton
<br />LI,;\..dlll\;hf'comine a regional job center. OJ 1984, III\; C;LJ ",,,,,;:'t !;Iuwill!; l"p;JIJ, llllJ \.llIpIUYIII\;IIL Wtl;:'t
<br />\.^p\.\.kJ Lv dvuLk Ly 1995. However, Pleasanton was not immune to the ttl\;\.\;;:'t:.');ulltt~tnte\Vicle
<br />rt'c,'"ion of the early 1990's. Employment growth stagnated during this time period. Howevt'r Ihe 1"1,.
<br />tqqO" hrolleht n r("~lIrcp.ncp. of pro~pt"rity dllrinc which tim," PIt"fl~:1nIOn ht"nefit~d from thp. Silicon
<br />Vnlley',,- tpchnolocirn1 f"xpnn",ion Thp. Yf"nr ?nn I hrollcht :1 ~icnitic:1.I1t dl..c.line in the I11l1nht"r of
<br />hll",inP.~~e~ in tht" tt"l'hnnlncy ~er.tnr hilt Plt"fl~:lI1tnn nnd tht" f."fl"t Ray f.'lrpd hpttpr thrill dtip~ in tht"
<br />Silicon Vflllt"y flnci tht" crt"fltpr SOllth nny nrp:1 Plt":1o;;.flnton W:1'" nnt howt"vt"r totally immllne to Iht"
<br />downtllrn nf tht" tt"chnolocy indll~try which ft"o;;.lIlted in !1 clt"crt"!1"t" in hll"int..",,," rt"lntt"d rt"vpl1Ilp.,,-
<br />!1C'compflnipd hy Stnte hlldCt"t rrohlp.m~ np""pite o,;;,lIfft"rinc St!1te -withRlICiCt"1 imp:1C~t"" Ple:l"-:lnton Wfl"
<br />!1hle tn wt"nthpr tht" wt":1kent"d t"connmy in p:1rt hy c.ontinlline tn !1dhert" to Ihl" cnn,,-prv:ltivt" fimmcinl
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<br />XI-I
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