California Business Minute™

The California Redevelopment Association, CRA provides legislative
advocacy, professional development and public education.  In support
of its members it responds to legislative proposals and administrative
regulations.

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Hi, I am Tim Johnson and welcome to the California Business Minute.

To fend off ill effects from the a sagging economy, San Francisco Mayor Gavin Newsom
recently announced a series of initiatives he hopes will stimulate the city’s business climate.

“Despite our economic strengths, San Francisco is not immune from the worldwide credit
crunch or nation-wide economic downturn,” said Newsom. “I’ve proposed an economic
stimulus package that encourages local spending, reduces the cost of doing business in
San Francisco, accelerates capital spending and increases foreign investment.” The mayor
said he wants the city to: Accelerate capital projects such as the Terminal 2 rebuild at the
San Francisco International Airport, improvements at San Francisco General Hospital and 
its rebuild and begin the Transbay Transit Center and tower, which is to be the tallest building
west of the Mississippi.

In addition the Mayor also wants to increase foreign investment by establishing a business
development office in China.  Closer to home he want to cut the cost of doing business in
San Francisco by reviewing fees on businesses, helping local business take better advantage
of federal, state and local tax credit programs and implementing targeted tax incentives.

Also the Mayor Newsome wants to create more local jobs through City Build and other workforce
programs, expanding San Francisco tourism marketing more regionally, revising parking and transit
polices to make it easier to visit San Francisco, expanding Neighborhood Market Place Initiatives
and Business Improvement Districts including the new Tourism Improvement District, reducing retail
downturns with the “Shop Local” campaign and increasing funding for business attraction and retention
efforts.

I am Tim Johnson and this has been the California Business Minute.