The City of Cupertino’s Economic Development Strategic Plan (EDSP) is a policy document intended to guide the City’s economic development activities over the next three to five years. The EDSP is framed around 11 strategies intended to strengthen existing businesses, foster a healthy economy, and maintain a healthy fiscal position. For each strategy, the EDSP identifies a range of specific action items for the City Council to consider. The strategies and action items are designed to strengthen Cupertino's existing competitive advantages for economic development, and take action to address disadvantages.
The EDSP was developed after completing an analysis of demographic, economic, and real estate market trends, and receiving feedback from community members, business leaders and City Council. The
community outreach process included the following components:
• Community Forum on Local Businesses: In August 2015, the City of Cupertino hosted a Community Forum to engage community members about the Economic Development Strategic Plan. At the Forum, residents, business owners, City staff, and elected officials identified assets,
opportunities, and potential challenges related to economic development in Cupertino.
• Interviews and Stakeholder Outreach: Strategic Economics completed telephone interviews with local business leaders, real estate experts, and property and business owners to collect information and solicit feedback.
• Economic Development Committee: Strategic Economics facilitated in-person meetings with the Cupertino Economic Development Committee, to gather input regarding technical findings and strategies.
• City Council Study Session: City staff and Strategic Economics presented the findings and strategies from the Background Report to the Cupertino City Council for feedback.
The Background Report, completed in January 2016, provides the findings from the technical economic analysis and community outreach, and identifies the City’s competitive advantages, issues, and opportunities for economic development.
This EDSP is organized into three sections: Following this Introduction, Section II presents a Summary of Findings from the Background Report, as well as the key economic development issues for the EDSP to address. Section III contains the Strategies and Action Items for implementing the EDSP.
Cupertino’s Economic Development Strategic Plan identifies a series of strategies and actions the City can take to strengthen its competitive advantage and continue Cupertino’s identity as a home for innovative businesses and emerging technology entrepreneurs.
The following are three key initiatives currently being considered:
• Mobile Vendors Regulations
• Incubator and Co-working Space Use
• Innovation District Vision Plan