Fallon Road Economic Development Zone
The City Council has made economic development a high priority and has initiated a General Plan Amendment Study for approximately 73 acres east of Fallon Road. The City Council has also prioritized commercial and industrial development in this area. Specifically, the City’s vision is for these properties to be developed with economic and job-rich uses such as Life Science, Advanced Manufacturing, Clean/Green Technology, Automation and Robotics, Technology, Startups, and Incubators.
On May 18, 2021, the City Council established the Fallon Road Economic Development Zone (Fallon Road EDZ) and the creation of an Incentives Package for properties within that zone. The goal of the Fallon Road EDZ is to transform the area into a thriving corridor that capitalizes on its location along the I-580 freeway and to create opportunities for new uses and services in the community, generating new jobs and tax revenues.
The designation of the Fallon Road EDZ also includes an Incentives Package to further promote the City’s economic development goals and objectives. The Incentives Package is limited only to the targeted industries identified by the City Council:
- Life Sciences
- Advanced Manufacturing
- Clean/Green Technology
- Automation and Robotics
- Startups and Incubators
The Incentives Package will help promote the following economic development goals and objectives:
- Assist the City in attracting businesses in the targeted industries as prioritized by the City Council.
- Increase the local tax base, including sales and use tax, transient occupancy tax and/or property tax.
- Diversify the local economy.
- Attract, grow, and advance employers that create or provide sustainable, living-wage jobs.
- Repair, expand, and improve City infrastructure as needed to attract high-quality private development.
The Incentives Package also includes both City-specific programs and the marketing of state and federal financing programs:
- Property Tax Sharing
- Streamlined Development Review
- Fee Reimbursement
- Green Construction Incentive
- Marketing of State Financing Programs (Industrial Development Bond Program and Statewide Community Infrastructure Program, etc.)
- Marketing of Assistance with Certain Federal and State Incentives/Tax Exemptions
General Plan Amendment Study
On March 16, 2021, the City Council initiated a General Plan Amendment Study for approximately 73 acres east of Fallon Road on the GH Pac Vest and Alameda properties. The Study evaluated changing the existing General Plan land use designation from General Commercial to General Commercial/Campus Office. The General Plan Amendment was approved by the City Council at the February 15, 2022, City Council meeting.
For more information, contact Principal Planner Amy Million appears to be an empty link with target mailto:email@example.com via email or at 925-833-6610.