Hacienda sits at the center of the world's sixth largest economy and at the hub of one of the most economically productive regions in the world, according to the Bay Area Council Economic Institute. The San Francisco Bay Area is arguably the most economically diverse region in the United States.
Within this region, Hacienda businesses are supported by a phenomenal wealth of resources. Each geographic element–the Tri-Valley, the East Bay and Alameda County, the City of Pleasanton, and Hacienda itself–contribute significantly to the Bay Area’s economic strength.
Companies at Hacienda also contribute significantly to the Bay Area economy. One measure of their value can be seen in the Hacienda Index of publicly traded companies, which can be found in the Hacienda section below.
Over the long-term businesses have to expand in Pleasanton, in the East Bay, because of cheaper occupancy costs and the availability of the labor pool.Andrew Brown, Director of Leasing, Embarcadero Capital Partners
Since the 1980s, the East Bay has been the fastest growing part of the San Francisco Bay Area. This region, which includes Alameda County, is home to nearly a third of the Bay Area's workforce, many world-class universities, and the two national research laboratories listed above.
One of the area’s defining characteristics is the breadth of its economic base, as noted by the East Bay Economic Development Alliance (East Bay EDA), a public-private partnership serving the area. A diverse set of economic industries contribute to job creation, research and development, local investment, and business growth in the East Bay and Alameda County.
In 2018, all major indicators point to continued growth for the East Bay economy, according to East Bay EDA. “Some of the fastest-growing sectors over the last year have been Construction (7.2%); Transportation, Warehouse, and Utilities (4.5%); and Manufacturing (3.4%),” according to the 2018-2019 East Bay Economic Outlook Report. High-skilled sectors such as Professional, Scientific, and Technical Services (3.4%) also posted significant growth.
The Tri-Valley “punches far above its weight in terms of economic power” with an annual output of $42 billion with a population of only 361,000, according to the Tri-Valley Rising 2018 report published by the Bay Area Council Economic Institute. Remarkably, that output is similar to that of the North Carolina tech triangle, which has a population of more than 2 million.
The report identifies several key factors that drive the area’s economic success. They include the Tri-Valley’s highly educated population, which tops California in terms of achievement. Fully 26% of Tri-Valley adults have attained a graduate or professional degree.
Other factors that contribute to the area’s economic strength include its location near San Francisco, Silicon Valley, Sacramento, and the Central Valley, which offers access to a skilled workforce; its high-value, flexible commercial real estate, such as that available at Hacienda; and an ecosystem of innovation. This ecosystem of innovation is partly the result of the Lawrence Livermore National Laboratory and the Sandia National Laboratory, which have led the region in innovation for more than 50 years.
Private industry can take advantage of the rich resources of Lawrence Livermore National Laboratory and Sandia National Laboratories through the Livermore Valley Open Campus (LVOC) program. This public-private partnership allows business to work alongside lab experts to find solutions that bolster the economy and national security. Thanks to programs like LVOC, pure research done by the labs can easily flow to the marketplace in the form of new business and products.
More recently, the creation of the i-GATE business incubator and other resources for entrepreneurs have helped lead to more than $4 billion in Tri-Valley venture capital and private equity investment over the past 10 years. Today an estimated 450 technology companies call the Tri-Valley region home.
The City of Pleasanton offers a microcosm of the strengths and economic diversity seen in the larger Tri-Valley. In recent decades, Pleasanton has also developed a strong base of innovative firms in the areas of cloud-based software services and other information technology, corporate management, biomedical research, and advanced medical-device manufacturing. In addition to the industry sectors mentioned above, research and development firms, light manufacturing, retail clusters, and medical institutions such as hospitals and clinics are also important contributors to Pleasanton’s economy.
These and other Pleasanton businesses attract talented workers, garner capital investments, and generate jobs in many other supporting industries. Pleasanton’s large and stable employment base and mix of office, industrial, retail, and residential land uses provide for a diversity of revenue sources and ensure economic and fiscal stability.
The City of Pleasanton serves the business community by maintaining and extending a robust and amenity-rich environment well-suited to business success. As an example, Pleasanton worked with Hacienda to actively seek and obtain significant investments in telecommunications and data infrastructure because of their importance to business. Both continue to encourage development of existing and new technologies so that businesses in Hacienda always have cutting-edge technology tools available to meet their needs.
Pleasanton has also actively sought business participation in key economic development initiatives, including the creation of an Economic Development Strategic Plan. Pleasanton has worked to realize plan objectives, which has led to everything from streamlining the permit process, to identifying opportunities for new business growth and development, to examining ways in which the Pleasanton economic environment can remain competitive and attractive to new investment.
Many of Pleasanton's largest businesses are in Hacienda. The companies at Hacienda represent many of the fastest-growing economic sectors in the region, including Professional, Scientific, and Technical Services Construction, Manufacturing, and Healthcare.
Hacienda is a leading contributor to the local economy because of its aggregation of high-value businesses and employment opportunities. Even a casual observation of Hacienda’s business roster will quickly reveal the prevalence of a number of firms that are primary constituents of the strongest business sectors found in the East Bay.
One measure of the value of Hacienda's economic contribution is through the Hacienda Index of the development's publicly traded companies. With a starting value of 1,000 set on January 1, 1998, Hacienda has used an arithmetic average index, such as the one used to compute the Dow Jones, to map the collective impact of the development's publicly traded companies.
The current value of companies at Hacienda are shown below. Historic data from the Hacienda Index can be found in the archived pages of our Network and Pulse newsletters, which can be found in the News + Events section of our web site.
Source: Financial Steward Associates, LLC, 2020
Source: Financial Steward Associates, LLC, 2020