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
Add (attraction, expansion or
retention) a total of 10,000
jobs.*
Increase the City’s sales,
property, and utility tax
revenue by $10 million.*
Increase business retention
visits year- over-year by 25%.
Generate/facilitate the
permitting of three data
centers (or large energy
developments).
Foster small business
resilience and create
thriving business
districts.
Establish two new business
assessment districts.
Accelerate a thriving
Downtown.
Generate combined
revenue of $550,000
annually from two new
assessment districts.
Streamline at least one city
policy to simplify and
accelerate the permitting for
small businesses.*
Award 100% of City-wide
allocated Storefronts Grant
funding each year
Generate 10 commercial
lease renewal commitments
of 5,000 square feet or
more.*
Facilitate 10 new
commercial business
attractions.*
10% year-over-year
increase in Downtown
daytime foot traffic.
10% increase year-overyear increase in positive
sentiment
Activate San José as the
South Bay's hub for
sports, arts, and
entertainment.
Secure San José Sharks in San
José for 25 years.
Secure San José Giants in San
José for 25 years.
Complete the policy work related
to: Supergraphics, Special Events
Zone, and Entertainment Zones
including pilot implementation.
8 cultural outdoor special events
specific to 2026 activities, and 6
public artworks.
485 city-wide outdoor special
event, drive over two million
attendees.
Conceptual plan for a sports and
entertainment district
Increase Downtown nighttime
visitors 10% year-over-year.
Prepare residents to
participate in the local
economy through
training, education,
and career support.
Serve 1,400 youth and
adult clients and place 80%
of those securing
employment in high-wage,
high-growth jobs.
Provide 325 San José
Works internships in highwage, high-growth sectors
Secure unsubsidized
employment for 475 youth
(ages 16-29)
* These goals span FY 2056-26 through FY 2026–27. Status is based on progress toward the annual benchmark, which is 50% of the two-year target by the end of Year 1.
STATUS
On Track or Complete
At-Risk
Off Track/Critical
Intervention Needed
3 A Few Highlights…
RETAIN AND GROW JOBS
3,573 jobs added or
retained to date
$9M year-over-year
increase in sales tax
Ribbon-cuttings and
groundbreakings for
Rose Batteries,
Netgear, Lucid Motors,
and IONNA’s first EV
recharging station in
San José
5 FACILITATE LARGE ENERGY DEVELOPMENT
Equinix SV12 and SV18
data centers energized
under a milestone agreement
with PG&E
$800K utility tax revenue
expected for FY26-27,
growing cumulatively to
~$4M annually within five
years
6 FOSTER SMALL BUSINESS RESILIENCY
Over 800 applications for new
Business Start-Up Grant
• 20 awardees selected by
lottery.
Five new assessment districts
established or in process,
for over $760K in annual
reinvestment into neighborhood
business corridors
• The Alameda (2)
• Story Road
• Alum Rock
• East Village
7 ACCELERATE A THRIVING DOWNTOWN
Positive resident sentiment
about experience and perception
of downtown remained
consistently at 51% through
December
Achieved 9.3% and 6.6% yearover year increase in
Downtown daytime foot traffic
in Q1 and Q2
Super Bowl LX activations,
Nvidia GTC, and NCAA March
Madness exceed goal of
10% year-over-year 8
SPORTS, ARTS AND ENTERTAINMENT HUB
Staff facilitated 535 citywide
outdoor special event days
through March 2026. These
events welcomed 1.85M
attendees.
Super Bowl LX activations
generated over 450K visitors
to Downtown, including:
• Kehlani and DJ Dom Dolla
concerts at City Hall Plaza
• Weekend-long Entertainment
Zone activation at San Pedro
Square
• Drone shows at Discovery
Meadow 9
Looking Ahead…
Repositioning for Growth, Competitiveness, and Economic Vitality Advancing a more proactive, market-informed, and partnership-driven economic development strategy Support Business
Attraction and
Retention
• Build out 3- to 5-year Business Development Strategy
• Capture near-term opportunity in industrial and R&D markets, especially power-ready sites • Target business-to-business services firms to support office recovery • Align City attraction efforts with CA State GO-Biz to amplify competitive advantages • Support SJC's engagement with business associations, as the airport assesses current and future demand
Strengthen the Small
Business Ecosystem
• Strengthen the full economic ecosystem through small business, traded sector, and BID capacity building
• Encourage more local spending while reinforcing San José’s position as a global center of innovation
• Define competitive elements of an Eastside Revitalization Framework Expand the
Experience Economy
• Build on SJ26 momentum to expand civic engagement, public-private collaboration, and visitor activity
• Coordinate and deliver 250th Anniversary and 70th Anniversary of Sister City strategy • Facilitate Convention Center optimization
11 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