CITY OF STOCKTON
ECONOMIC DEVELOPMENT SUBSIDY
2022 ANNUAL REPORT
Agenda Item 16.3
May 23, 2023
City Council
Meeting
Background
AB 562 effective January 1, 2014
Requires local governments
report economic development
subsidies over $100,000
Current Reporting Period – 2022
Comprehensive report of all
qualifying programs
Qualifying Programs
( $100,000 Subsidy)
Stockton Economic Stimulus Plan (SESP)
Public Facility Fee Reduction for Non-
residential Projects
Greater Downtown Stockton Residential
Development Public Facilities Exemption
Downtown Infill Infrastructure Program
Office and Industrial Sales Tax Incentive
Program
Eligible Programs
GRAND TOTAL FOR ELIGIBLE PROGRAMS = $16.2 MILLION
SESP PFF Non-
Residential Downtown Infill Sales Tax
Total Recipients 10 10 0 0 4
Subsidy $8,347,598 $3,771,981 $0 $0 $4,045,915
$0
$1,000,000
$2,000,000
$3,000,000
$4,000,000
$5,000,000
$6,000,000
$7,000,000
$8,000,000
$9,000,000
2022
Employment Impacts
SESP recipients to hire
at least 50% Stockton
Residents
4,880 Jobs
(2,590 Stockton
Residents)
Job creation data tracking is not
required by the remaining reported
programs
Staff Recommends
Accept the Economic Development
Subsidy 2022 Annual Report; and
Authorize the City Manager to take
appropriate and necessary action to
carry out the purpose and intent of
this motion.