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This memorandum provides an annual report on the implementation of the Economic Strategy Work Plan for Fiscal Years 2025-2026 and 2026-2027. It outlines the progress made across five strategic objectives aimed at job creation, small business support, Downtown revitalization, cultural engagement, and workforce development. Key achievements include job retention and growth, increased sales tax revenue, establishment of business improvement districts, and support for small businesses through grants and training programs. The report highlights ongoing efforts and future goals to enhance the local economy and community engagement.
Key points
The Economic Strategy Work Plan focuses on job creation, private investment, and City revenue generation.
Five strategic objectives guide the work: grow jobs and revenue, foster small business resilience, accelerate Downtown, activate sports and arts, and prepare residents for the economy.
As of March 2026, 36% of goals are complete, 55% are on track, and 9% are at risk.
Sales tax increased by $9 million compared to the previous year.
Four new business improvement districts have been established, generating over $760,000 in annual reinvestment.
Over 800 Start-Up Grant applications have been submitted to support local entrepreneurs.
The work2future division served over 1,000 clients, with a significant percentage facing barriers to employment.
Limitations
The text contains unresolved placeholders and incomplete sections, affecting the completeness of the summary.
Specific dates and dollar amounts are mentioned but not fully detailed in the context of the overall report.
Generated for convenience from extracted text using AI. Review the official source document before relying on this summary.
Extracted text preview · 27,542 chars
CED COMMITTEE AGENDA: ITEM: TO: COMMUNITY AND ECONOMIC DEVELOPMENT COMMITTEE SUBJECT: Economic Strategy Work Plan Annual Report Approved 4/27/26 (d)4 FROM: Jen Baker DATE: April 3, 2026 Date: 4/17/26 RECOMMENDATION Accept the annual report on the implementation of the Economic Strategy Work Plan for Fiscal Year 2025-2026 and Fiscal Year 2026-2027. BACKGROUND As part of the Fiscal Year (FY) 2024-2025 Budget process, the City Council approved the City Manager’s Office of Economic Development and Cultural Affairs (OEDCA) Economic Strategy Work Plan (Work Plan) for FY 2025-2026 and FY 2026-2027. The Work Plan focused OEDCA’s efforts on a smaller set of priorities that are most closely tied to job creation, private investment, and City revenue generation. The Work Plan identified five strategic objectives to guide OEDCA’s work over the twoyear period: 1. Grow jobs and revenue from large and medium-sized businesses in key sectors. 2. Foster small business resilience and strengthen neighborhood business districts. 3. Accelerate a thriving Downtown. 4. Activate San José as the South Bay’s hub for sports, arts, and entertainment. 5. Prepare residents to participate in the local economy...
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Generated summaryAI-assisted
The Economic Strategy Work Plan Annual Report outlines the progress and objectives of the City Manager’s Office of Economic Development and Cultural Affairs for FY 2025-2027. The report details five key activities aimed at supporting business attraction and retention, strengthening the small business ecosystem, enhancing the Downtown experience, expanding the experience economy, and connecting residents to economic opportunities. As of the report date, eight goals have been completed, 12 are on track, and two are at risk of not being completed on time. Highlights include job retention and creation, increased sales tax revenue, and successful events that attracted significant attendance.
Key points
The Work Plan was approved in June 2025 as part of the FY 2025-2026 Budget process.
Five activities focus on business attraction and retention, small business ecosystem, Downtown experience, experience economy, and connecting residents to economic opportunities.
Eight goals have been completed, 12 are on track, and two are at risk of not being completed on time.
3,573 jobs have been added or retained to date.
$9 million year-over-year increase in sales tax revenue.
Over 800 applications for new Business Start-Up Grants were received.
535 citywide outdoor special event days facilitated, welcoming 1.85 million attendees.
The report outlines future strategies for growth and competitiveness.
Limitations
The text contains placeholders and unresolved sections that affect the summary.
Specific dollar amounts and dates are mentioned but not detailed in the summary.
Generated for convenience from extracted text using AI. Review the official source document before relying on this summary.
Extracted text preview · 6,057 chars
Economic Strategy Work Plan Annual Report Community and Economic Development Committee April 27, 2026 Item (d)4 Jen Baker, Director Office of Economic Development and Cultural Affairs BACKGROUND City Manager’s Office of Economic Development and Cultural Affairs Economic Strategy Work Plan for FY 2025-2027, approved in June 2025 as part of FY 2025-2026 Budget process. Focuses staff resources on 5 activities that: Support business attraction and retention Strengthen the small business ecosystem Accelerate Downtown experience Expand the experience economy Connect residents to economic opportunity Five objectives and 22 goals in the Work Plan – Year 1 nearing completion Year 1 Work Plan Status Eight goals completed 12 are on track to be completed within the Work Plan period Two goals are at risk of not being completed on time 2 OEDCA 2025-2026 Workplan Status Retain/grow jobs and revenue and promote innovation from large and medium-sized businesses Foster small business resilience and create thriving business districts. Add (attraction, expansion or retention) a total of 10,000 jobs.* Establish two new business assessment districts. Increase the City’s sales, property, and...