Comprehensive Economic Development Strategy

 

On August 14, 2023, the City council approved a comprehensive economic development strategy.

This strategy includes three guiding principles, 10 recommendations, and 28 specific actions that will inform the City of Palo Alto’s Economic Development activities in the coming years. This work involves partnership and collaboration with stakeholders throughout the community, including businesses, district management entities, property owners, brokers, and residents to increase Palo Alto’s economic vibrancy.

This page lists the guiding principles and recommendations within each guiding principle; the full details of the economic recovery strategy can be found in the documents listed at the end of the page or view the full strategy magazine style at the top of the page.

Guiding Principle 1

Reinforce each district’s distinct scale and offerings by stabilizing and reinforcing Downtown as a destination, embracing California Avenue as a community and neighborhood serving place, and supporting existing Neighborhood Centers.

Recommendations

Recommendation 1: Upgrade highly used and visible public and private realm spaces to promote district definition and encourage activation.

Recommendation 2: Encourage the creation and support District Management Entities for district promotion, programming, and increased maintenance.

Recommendation 3: Pursue business retention, development, and attraction initiatives for local and small businesses.

Recommendation 4: Promote tourism city-wide to increase longer business “bleisure” travel and grow hotel week occupancy rates with non-business travel.

Guiding Principle 2

Improve accessibility by embracing walking and biking solutions to /from/within all of the City’s commercial districts and addressing parking policies and systems.

Recommendations

Recommendation 5: Fix broken pedestrian and cycling links to increase accessibility to, from, and within commercial districts.

Recommendation 6: Invest in first and last mile transportation options that increase equitable access to, from, and within commercial districts.

Recommendation 7: Reinforce walkability within districts to encourage longer duration of stay and activation.

Recommendation 8: Update and simplify parking policies, systems, and signage to ease navigation and use of parking.

Guiding Principle 3

Adopt policies that reflect changing market conditions by easing the regulatory burden for businesses, removing outdated restrictions that create hurdles to tenancy, and focus retail and retail-like uses in places where they are market supported.

Recommendations

Recommendation 9: Streamline, update, and/or remove unnecessary use restrictions and pursue regulatory reform to enable tenancy and competitiveness.

Recommendation 10: Grow the market by enabling residential development in select areas of Downtown Palo Alto and California Avenue.

Documents

Back to top