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6.1 B - Attachment No. 4 <br /> MANAGEMENT'S DISCUSSION AND ANALYSIS <br /> that oversees the state's sales and use t� laws, has adopted a regulation that exempts electronically delivered <br /> canned software from the sales and use taxes. Software that is delivered via a tangible medium (CD or tape) is, <br /> however, subject to sales and use taxes. It is estimated that the City is now receiving about $1.8 million less <br /> annually than received in FY 1999/2000 due to software being delivered electronically. Regrettably, we see no <br /> signs of this trend abating. <br /> Although technology companies (such as Informatica, Bigband Networks, Electronic Arts, Shutterfly, and Oracle) <br /> are a substantial component of the City's economy, other sectors also provide important economic support. In <br /> addition to the technology sector, we have manufacturing (Tyco Electronics), biotechnology (Maxygen, Abbot <br /> Vascular Devices, Cyngus Therapeutic, and Genelabs), auto dealers (both domestic and foreign), building <br /> materials,three hospitals(Stanford Hospital and Clinics,Kaiser, and Sequoia), a University of California extension <br /> campus, a community college(Canada), a high school(Sequoia), and a variety of retailers(Costco,K-Mart,Kohl's, <br /> and Target). <br /> The Oracle Corporation, a leading database developer, maintains its world headquarters in Redwood City. Oracle <br /> presently has over 6,700 employees in Redwood City and occupies 1.5 million square feet of commercial office <br /> space. Broadvision, Electronic Arts, Informatica, Open Wave Systems, and a number of other technology <br /> companies have also selected Redwood City as the site for their world headquarters. <br /> The Port of Redwood City is the only deep-water port on the San Francisco Bay south of San Francisco, serving the <br /> entire region as a key entry point for many types of materials contributing to the local economy. <br /> Redwood City is also the county seat for San Mateo County, which results in a high daytime population from <br /> people conducting matters at the county offices and courts. <br /> CONTACTING THE CITY'S FINANCIAL MANAGEMENT <br /> This Comprehensive Annual Financial Report is intended to provide citizens, taxpayers, investors, and creditors <br /> with a general overview of the City's finances. Questions about this report should be directed to the Finance <br /> Department,at 1017 Middlefield Road,Redwood City,CA 94063 <br /> 13 <br />