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CITY OF PLEASANTON ECONOMIC DEVELOPMENT STRATEGIC PLAN FY2024-2028 <br />Existing Conditions <br />One of the primary goals of the EDSP is to define the <br />actions needed to accelerate the City’s advancement <br />towards a proactive and intentional approach to <br />delivering economic development services. <br />Accordingly, the EDSP’s Economic Profile Report2 <br />identifies the City’s highest value growth sectors and <br />associated near- to mid-term opportunities to protect <br />and leverage these economic assets. Key findings <br />validate the strength of the City’s emerging Life <br />Sciences and Biotech sector with very low vacancy <br />rates and continuing year-over-year rent growth. <br />The greatest challenges to proposed expansions <br />are availability of land and suitable buildings, talent <br />attraction, and training new employees fast enough <br />and with a sufficient level of retention to meet the <br />business growth needs across multiple sectors. <br />While the City of Pleasanton has developed <br />productive strategic partnerships through <br />collaboration with the Pleasanton Downtown <br />Association, Pleasanton Chamber of Commerce, <br />Visit Tri-Valley, Hacienda, and other community <br />groups, there is opportunity to further strengthen <br />the City’s value proposition to investors/ <br />developers/operators by formalizing those <br />partnerships with as-needed agreements which <br />outline desired outcomes. <br />Following are the proposed implementation <br />recommendations to launch a formalized Business <br />Retention, Expansion & Attraction Program. <br />2.0 BUSINESS RETENTION, ATTRACTION & EXPANSION <br />The key partners’ interview feedback was highly positive <br />and valuable, providing evidence of employers planning <br />expansions and seeking to attract new skilled labor. <br />12