Economic Development Director Linda Maurer is confident that Dublin is making its way out of the recent downturn. Auto sales in the First Quarter of 2010 compared to First Quarter of 2009 show a significant increase. Commercial space vacancy rates, currently 17-18%, appear to be on a steady decline. The Dublin Corporate Center, off the corner of Tassajara Road and Dublin Boulevard, is continuing to land new tenants like Perquest and Tria Beauty. Maurer indicated that many restaurateurs have expressed interest in the site formerly occupied by Stacey’s at Waterford, but the current owner has been reluctant to share any detail other than that the plaza is looking to attract a high-end restaurant to complement the other shops.

Thanks to the reduced water and sewer hookup fee, Charter Properties is very close to signing another lease with an upscale restaurant at Grafton Station. If a deal can be struck, the restaurant owner would likely need to appear before the Dublin Planning Commission to request a conditional use permit for outdoor seating and other exceptions.

Dublin is extremely fortunate to have many competitive advantages compared to other cities in the Tri-Valley. Retailers and restaurant owners love the fact that Dublin is located at the crossroads of the I-580 and I-680 highways and enjoys relatively high traffic counts. Large companies like Taleo and Perquest at the Dublin Corporate Center appreciate the ample freeway frontage, which helps them create brand awareness through the signage on their respective buildings. Dublin also has an arsenal of economic incentives such as the sales tax reimbursement program, the water and sewer hookup fee credit, and a business-friendly parking ordinance to set it apart from its neighbors in the Tri-Valley.

The City of Dublin does have a comprehensive economic development strategy that takes some of the lessons learned from neighboring cities in the Tri-Valley. The top sales tax generator in the City of Livermore is not a car dealership or even Costco; surprisingly, it is an obscure contracting supply company that runs all of the sales through its Livermore location. One of the many economic development goals for the City of Dublin is to attract more businesses like this contracting supply company in Livermore. The City of Dublin has already landed one such revenue source in the form of Graybar Electric. While Graybar Electric has a minimal number of customers visiting its Dublin location, it brings in hundreds of thousands of dollars in sales tax revenue to the City of Dublin, because all of Graybar’s regional sales are booked in Dublin. Cities love businesses like the contracting supply company in Livermore and Graybar Electric, because these companies provide a bounty of sales tax revenue without creating traffic impacts or requiring a great deal of city services like Hacienda Crossings.

Maurer acknowledged that the key to the future of the Eastern Dublin Specific Plan lies with the successful development of John DiManto’s property along Tassajara Road. Developers loathe uncertainty, and many are reluctant to start new projects until they know exactly what will be built on the DiManto parcels. DiManto has apparently engaged a broker to market his land to prospective developers actively.

Dublin’s economic development is in good hands with Maurer at the helm, and our future looks bright. Maurer was a driving force behind the gorgeous Streets of Brentwood off Highway 4. With nearly 60 restaurants and shops and frequent special events, the Streets of Brentwood is a prized jewel for the City of Brentwood. While Dublin and Brentwood share some similarities in their growth patterns, Maurer noted that the Streets of Brentwood project was much different from any of the ongoing commercial development in Dublin for three simple reasons. In addition to acquiring the proper financing at the right time, the developer of the Streets of Brentwood had 60 open acres to work with in a massive master planned project, and he already had relationships established with all the retailers and restaurant owners from previous projects.

While the recent economic factors have been a challenge, Dublin is poised to emerge from the recent downturn stronger than ever. As proclaimed in the City of Dublin’s promotional brochure, “it is a great place to grow.”