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and Ready Island Navy base in 1996. The City of Stockton is a community of approximately 262,109 residents', and has a comparatively high unemployment rate. According to the State Economic Development Department, the unemployment rate in Stockton for December 2003 was 11.9%, which is nearly double the State rate of 6.4% for the same time period. Stockton's unemployment rate is higher than any other incorporated city in San Joaquin County, and as shown in Table A-1, the highest among cities in California of similar population size. Not included in these figures are the number of residents not in the labor force, which recent demographic statistics estimate to be more than 41% of the 172,996 City residents over the age of 162. EMPLOYMENT AMONG SIMILARLY SIZED CITIES TABLE A-1 ROUGH AND READY PROJECT AREA Population (2003) Unemployment Rate 1/ Glendale 202,700 5.80% Modesto 203,300 9.70% Fremont 209,000 3.70% Stockton 261,300 11.90% Bakersfield 266,800 9.50% Riverside 274,100 5.30% Anaheim 337,400 3.70% Santa Ana 347,200 5.80% State of California 35,591,000 6.40% 1/ Employment Data for December 2003 Source: California Department of Finance State of California, Employment Development Department Unemployment diminishes household earnings, a fact all too familiar in Stockton. Median household incomes in Stockton in 2003 were nearly 14% lower than the County. According to the Census Bureau, the number of Stockton households below the poverty level increased by over 37% between 1990 and 2000, and nearly 20% of all Stockton households are below the poverty level. Rough and Ready Island represents one of relatively few significant economic development opportunities for the City to mitigate the social and economic problems it faces. Rough and Ready Island is largely dormant today. As of 2001, Project Area tenants employed approximately 336 persons3; with the largest tenant (GSA) planning to relocate its 238 employees, less than 100 jobs now exist at this 1,433-acre, 6 million square foot facility. 1 Source: ESRI Business Information Solutions demographic estimate for 2003 2 Source: ESRI Business Information Solutions demographic estimate for 2003 3 Source: Rough and Ready Development Plan, JBF/Entranco Associates, Inc. 2001 ROSENOW SPEVACEK GROUP, INC. REDEVELOPMENT AGENCY OF THE CITY OF STOCKTON MAY 3, 2004 ROUGH AND READY ISLAND REDEVELOPMENT PROJECT - A-4 - PRELIMINARY REPORT