Economic Viability

By Kenneth Allen Fitzgerald

Placentia's ability to meet current and future financial responsibilities / The search for Revenues.

Out of the six (6) cities that make up the North Orange County Partnership (NOCP), Placentia ranks as the second smallest city with the second highest percentage of Single family homes. This is based on the July 2000 report by the Institute for Economic and Environmental Studies Center for Demographic Research at California State University, Fullerton. The Report goes on to identify Placentia as having the lowest percentage of locally employed, at 3.5% of the combined NOCP group, and the smallest in the total number of Firms. In a 1997 taxable transaction study, Placentia ranked the second smallest @ $347,481.

As one city melts into another, it is easy to overlook the fact that Placentia has no major shopping center. We have no major anchor stores and because of this millions in taxable sales are leaving our city. A closer look at Placentia and you notice Real-estate signs at our Strip Malls, and small businesses closing their doors because there are no strong anchor stores to draw customers.

For the most part, Placentia has been built out and this presents a unique problem when you consider that the contributions to our operating revenues made by the retail sector have been on the decline for some time. If we continue to lose revenues in this sector, the money needed to just maintain our city will become a major challange.

We are already showing signs of neglect in our infrastructure. Most obvious to citizens is the deterioration of structures and equipment in many of our parks and even at the front door to our city, the Civic Center. Close observation reveals our city is only receiving minimal maintenance throughout the city's managed areas of responsibility.

It is imperative that we loose no more time in setting goals that will improve the performance of the retail sector of our business community. We must carefully consider how we develop the few available properties left in our city. One such area is the SW corner of Rose and Alta Vista. This location is an ideal candidate for a stand-alone anchor store with proven high sales records, and it can be done without compromise to the standards we must have for the area.

We must show major retail sales producers such as IKEA and others that the accessibility of the 57 Freeway corridor in Placentia is the place to do business. We must create a workable partnership with the owners of our commercial retail shopping areas so that we can encourage more stores, with greater customer appeal, to do business in our community. Finally, we must institute the Redevelopment of our Old Town located on Santa Fe Street as well as the area to the west of it. This area presents a wonderful opportunity to the city for jobs and tax revenues. Working with the property owners and existing businesses in that area, we can create a market place of such beauty and diversity that it will attact people from all the neighboring communities.

With our focus on the future and programs designed to bolster our local economy,like the ones I have mentioned, we will not only be adding to the beauty of this city but to the future well being of Placentia residents.