From business to real estate, Oakland is booming

These days, the Oakland skyline — long shaped by iconic skyscrapers, green rolling coastal hills and Port cranes — is currently home to about a dozen construction cranes, emblematic of the surge of new investment spawning commercial and residential projects now underway.

According to Harry Hamilton, marketing coordinator for the city’s Economic & Workforce Development Department, more than $1.5 billion in active commercial and residential construction projects are currently in progress. Companies such as the Sierra Club, VSCO and 99Designs have recently relocated headquarters to the city and others including Blue Shield of California have plans to move to Oakland shortly.

But why?

For one, the bustling East Bay city, perhaps formerly in the shadow of its nearby neighbor San Francisco, is centrally located and accessible by public transit. Being closer to where today’s talent pool lives means shorter commutes to jobs. The weather is great, green spaces are plentiful and there is a vibrant art, entertainment and dining scene. In fact, Realtor.com recently ranked Oakland No. 3 on its “Top 10 Cities Where Downtown is Making a Comeback” list.

While working to attract businesses looking to relocate, the City has also focused on nurturing homegrown businesses. Oakland’s entrepreneurial ecosystem benefits from a range of business service nonprofits and a supportive city government with initiatives underway to support sustainable growth and entrepreneurship.

In November 2017, the Oakland City Council approved an Economic Development Strategy outlining steps to make Oakland an “easy, efficient and prosperous place to do business” while finding ways to give marginalized businesses and residents the tools and access they need to

“I believe Oakland is uniquely positioned — in terms of values and opportunity — to chart a course for responsible economic development. We have outlined an economic development vision and strategy for Oakland that will help us control our own destiny.”

Oakland Mayor Libby Schaaf

thrive now.

“I believe Oakland is uniquely positioned — in terms of values and opportunity — to chart a course for responsible economic development,” said Oakland Mayor Libby Schaaf in a statement about the plan. “We have outlined an economic development vision and strategy for Oakland that will help us control our own destiny.”

“We need to make strategic investments that will harness the power of economic development to grow the local economy and achieve the equitable results we all want,” said Mark Sawicki, Director of the Economic & Workforce Development Department. “We also want to keep the character of Oakland that we all celebrate as we expand our economy and provide our residents and longstanding businesses with the opportunities to participate and thrive in this new growth.”

Businesses in Oakland also benefit from knowledgeable City staff who can guide them through the City’s permitting process, provide insight on available locations, connect employers with skilled local talent and make referrals to support service providers.

Learn more at www. business2oakand.com

New investment in Oakland has resulted in construction projects throughout the city..

CITY OF OAKLAND