The social and commercial landscapes of Oakland have changed rapidly in the last ten years. This is due to both deliberate changes designed to encourage business growth, as well as unconscious changes in public perception.
The Enterprise Zone program was developed by the California State Legislature to stimulate business and employment growth in targeted areas.
The City of Oakland received an initial 15-year Enterprise Zone designation in 1993. The Zone was renewed in 2008. Oakland businesses in the Zone – from large manufacturing companies to small neighborhood restaurants – can reduce their state taxes by taking advantage of Enterprise Zone benefits.
“Oakland’s dining, arts and retail scenes have blown up in recent years, attracting more visitors to the city and earning it the title of coolest new kid in the country. Kelley Kahn, the city’s director of economic and workforce development, said Oakland “is ripe for hotel growth.”
Kahn argued that there’s enough developable land in the form of empty parking lots and buildings for new projects, as well as solid room and occupancy rates to justify financing. In fact, demand for hotel rooms grew by 6 percent over last year — the highest of anywhere in California.”
–San Francisco Business Timesphoto credit: nautical2k photopin cc