| Whittier is a bedroom
community to 87,000 people and 29,000 households. Residents who
shop in Whittier can significantly impact the local economy since
1% of all sales taxes paid goes to the city to fund important
services to residents including police protection and library
services to name two.
Whittier’s automobile dealerships have provided the largest
sales tax revenue by business group. The sales tax in this business
group has dropped. This drop is attributed to the slowing economy,
high gas prices, a lower demand for larger vehicles, and restructuring
of some automobile companies. During the first six months of the
2008 calendar year, Board Ford and Whittier Chrysler, Jeep, and
Dodge franchises closed primarily due to corporate decisions.
In response to these closures, City staff met with all of the
car dealerships. The City is concerned about the loss of sales
tax, but is optimistic about the new opportunities that the sites
present for redevelopment.
The City will work on attracting new retailers to redevelop these
sites through its business attraction efforts. The City attends
regional and national deal making conference held by the International
Council of Shopping Centers (ICSC). In addition, the City is conducting
a retail analysis to determine the types of retailers that would
fit in Whittier based upon Whittier resident’s shopping
and spending habits.
The City is currently finalizing a new specific plan for Uptown
Whittier, which is expected to bring new life to the business
district with its updated zoning regulations. There is an increased
awareness of the potential for economic development in this area
and an increased level of enthusiasm from the Uptown merchants,
property owners, and developers throughout Southern California.
Earlier this year, the City Council
approved a proposal to study the possibility of drilling for oil
in the Whittier Hills. When the old Oil Field stopped operations,
oil was still being produced, but at $20 per barrel in 1990, it
was no longer economical for them to continue. Today, it is well
above $100 and, with modern drilling techniques it is believed
that significant quantities of oil may still be extracted and
produce significant revenue for the City of Whittier and its residents.
It is estimated that the income to the City might be between $2
million and $10 million per year for perhaps as long as 50 years.
For more information on Whittier Drilling for Oil, please click
here.
Finally, the City of Whittier remains
confident about the future of economic development activities
and the potential for increased sales tax revenue. The City’s
economic development strategies are outlined in its Fiscal Year
2008-09 Economic Development Strategy. Click
here to view the Economic Development Strategy.
For more information on City initiatives and Economic Development
in the City of Whittier, please call the Community Development
Department at (562) 464-3380.
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