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Diversifying the economy

larryforojai.com/world/economy

Bringing in non-hotel, non-retail businesses won’t generate enough tax revenue to replace tourism. It will, however, modestly supplement our income, give residents local job options, and reduce commuting. Many of these businesses will be run by remote workers or local entrepreneurs, unless an outside firm establishes an in-person customer base here.

Retail businesses that primarily serve residents generate less sales tax and struggle with high rents. Supporting them requires a city-led effort, or a Housing and Commercial Land Trust that acquires property to keep rents sustainable. Repositioning the former Chaparral High School site is a strong example of a location where OUSD and the city could partner.

Economic diversity is helpful, but it is not a replacement. Tourism will remain our economic foundation.

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