Dear Friends,

On July 27, the Board of Supervisors approved the Hunters Point Shipyard/Candlestick Point Redevelopment Plan, the culmination of more than ten years of work that will create thousands of new jobs and include 10,000 new housing units, new parks and open space and a new cleantech campus. I am proud of OEWD's work, along with the leadership of the Mayor and Supervisor Sophie Maxwell, in making this project a reality. This is an enormous economic and workforce development milestone that positions the city for continued economic growth.

We are also moving forward on other important projects. Redevelopment plans for Treasure Island are one step closer to implementation; the conveyance of former Naval Station Treasure Island from the Navy to the City was signed on August 17. In addition, we have launched an $11 million loan fund to finance businesses and development projects as a key strategy in the plan to revitalize the Central Market area. We are also working hard to bring the America's Cup to San Francisco, which a recent study estimates will generate $1.4 billion in economic activity for the region.

We will continue our efforts to invest in our communities in order to strengthen the city's economic foundation and enhance quality of life for all San Franciscans. We look forward to keeping you informed of these and other important economic development projects.