Volume 1, Number 1
Jobs Outlook Remains Strong in Hacienda and Region
By Tina Hansen
As Hacienda looks to continue developing its economic and lifestyle advantages in 2017 with more jobs in a wide range of diverse fields, regionally, it is the construction sector that is projected to outpace them all with job opportunities expected to increase in both residential and commercial construction for the first part of the year.
Hacienda sits at the center of the world's sixth-largest economy, according to data from the World Bank, and is the hub of many of the strongest economic sectors. Without question, business, technology, bio-technology and finance jobs represent the highest percentage of employment in the region, but the rapid influx of new businesses and new residents makes the construction sector, this coming year, the focus of new job growth.
The energy sector, which includes both fossil and renewable industries, accounts for an estimated 5,500 jobs in the area, and the projected job growth is expected to increase by 2 percent for this year. According to the East Bay Economic Development Alliance (EBEDA), the area represents 7 percent of the estimated jobs in the fossil and renewable energy sector in the East Bay region.
With an experienced labor force in and near Hacienda, development is expected to continue to grow as established, new and start-up businesses look to take advantage of the benefits that Hacienda offers.
Hacienda is the largest mixed-use development of its kind in California and is a model of convenience and value to employers and employees. Hacienda's uniquely styled development integrates residential, commercial, cultural, and industrial uses and lays the foundation for how people want to live and work together. The continued attraction of the location to future innovators and Fortune 500 companies is expected to continue this year as the costs of starting a new development or expanding a business, not to mention the cost of living, will increase in San Francisco and the surrounding Bay Area.
Hacienda is ideally positioned to be the location for new businesses in all sectors as these enterprises seeks the advantages provided by Hacienda's historic infrastructure investment; a fact that is as true today as it has been throughout Hacienda's history. This investment laid the groundwork for future economic growth.
The area, Pleasanton in particular, is now seeing a return on that investment and reaping the benefits with high paying jobs and resources that make living in the Tri-Valley ideal. Hacienda has over 10 million square feet of existing, mixed-use space that is occupied by over 685 companies that locally employ nearly 20,000 people.
With relatively affordable rents, plentiful available real estate, a highly skilled workforce, and quality of life, businesses are paying attention to the success of Hacienda's community model, the growth in its business sector, as well as the benefits of having a variety of live-work opportunities.
Job growth in all sectors in Hacienda and Pleasanton will remain strong this year when compared nationally, with a predicted growth for Pleasanton of 2.62 percent, outpacing the national average at 1.59 percent, according to data compiled by Sperling's BestPlaces. In addition, over the next ten years, job growth is expected to be 41 percent, while nationally it is estimated to be at 38 percent.
While construction and technology jobs will remain plentiful this year, jobs in the retail and service sectors are also expected to be robust, as will jobs in sales and office support, engineering, education, and the healthcare fields.
With flourishing retail centers in Hacienda, which combined with Pleasanton has more than 10,500 retail jobs, there will continue to be job growth. According to the EBEDA, Hacienda and Pleasanton are expected to be consistent with the East Bay region with an estimated increase of 1 percent.
"For 2017, (the) Tri-Valley represents nearly 10 percent of the East Bay region's total jobs in energy, retail, construction, information technology and telecommunications. That means nearly 500 new jobs in these sectors, and a total of over 1,400 new jobs in the Tri-Valley," said Darien Louie, Executive Director, EBEDA.
New home construction will continue to be a focal point of jobs this year in Hacienda as single-family permitting activity is expected to increase over last year. With the expected growth this year, not only will construction and supply businesses benefit from Hacienda's continued growth, but the economic impact for all businesses, large and small in Hacienda will remain solid through the year.
Incomes are also expected to increase with an average household Income of $123,608 in 2016, more than double the national average of $53,482.
Hacienda's goal, as with the region, is to become a destination for entrepreneurs and investors by creating the allure of a new "Software Valley," that fosters an innovative business climate that will create long-term economic growth and security.
"Today's tech sector is oriented toward the web, software, new apps, social media, smartphones and cloud services. A great deal of that old tech industry is never coming back," says Jeffrey Michael, director of the Stockton-based Center for Business and Policy Research at the University of the Pacific.
Living and working in Hacienda means easy access to technology centers, an educated workforce, state-of-the-art business campuses and more. If you are a job seeker, you can look to the area for leading-edge employers, an unparalleled quality of life, environment, and diverse culture to fit any taste.
As more large employers locate into the area and tap into a workforce that does not have to commute four hours a day, more businesses, and diverse and well-paying jobs follow. The workforce in Hacienda and Pleasanton is among the most educated in the country, with nearly 80 percent of residents having attended college. Over 60 percent of residents have a college degree.
This world-class workforce in Hacienda and the surrounding area is the reason that companies like Packet Fusion and IntegenX located here and WorkDay, in Pleasanton, are expanding and adding more jobs. This will likely result in other companies and suppliers deciding it makes good business sense to locate in the area. As the region expands with new business development and expansion, like Tesla and its acquisition of SolarCity, businesses, and suppliers in Hacienda are ideally positioned to benefit from the growth.