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• Stable and diverse economy, an increasing entrepreneurial sector • Real estate market conditions that suggest a recovery period • High housing costs that reflect strong market demand and local quality of life • Numerous cultural and visitor assets that can support a strong tourism/arts sector • Strong and diverse retail base; as well as some challenges and opportunities: • Foster the expansion of exiting firms and attract new firms • Vitality of the economy can directly affect revenues for the city's General Fund • Economic development is directly linked to land use, transportation, housing and fiscal issues affecting Pleasanton in both the short- and longer-term. • Utilize assets to solidify position in the Tri-Valley regional economy • Position the city to integrate new types of retail into shopping environment. The focus of the Economic Development Strategic Plan is the identification of six primary goals that address key sectors in supporting Pleasanton's economy, and the community. For each goal, the plan offers policies and strategies that support both the City as a whole, and specific areas of interest including downtown, Hacienda Business Park and Stoneridge Shopping Center. Goal 1 -Maintain and Expand Pleasanton's Economy Defines strategies to support the diversity of Pleasanton businesses, thus providing relative stability during changing economic times Goal 2 -Maintain and Enhance Pleasanton's Fiscal Revenues Underscores the impact that a healthy business community has on the City's ability to maintain high quality municipal services, which in turn affects residents' quality of life Goal 3 -Promote Tourism, Cultural and Recreational Activities Strives to solidify Pleasanton as an outstanding place to live and conduct business Goal 4 -Strengthen Pleasanton's Retail and Entertainment Sector Recognizes that retail trade is one of the City's most visible and economic sectors, both in terms of employment and support of the City's budget Goal 5 -Increase Housing Opportunities for Pleasanton's Workforce and Residents Seeks to address the need for a diverse housing supply that provides a market that is accessible to young workers, attractive to families and allows for people to 'age in place' Goal 6 -Integrate Economic Development, Land Use and Transpiration Decisions to Create a Sustainable City Addresses means to balance competing factors and encourages creative solutions for traffic and environmental impacts of new developments. Page 3 of 4