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<br />MANAGEMENT'S DISCUSSION AND ANALYSIS <br /> <br />staff remains optimistic that local business activity will soon revive and that the City's revenues will respond <br />accordingly. <br /> <br />The City's economy is diversified and is not dependent on any single industry or a segment of economic activity. <br />We have high-technology companies (Ampex, Harris Corporation/Microwave Divison, Broadvision, Electronic <br />Arts, and Oracle), manufacturing (Tyco Electronics), biotechnology (Maxygen, Perclose, and Genelabs), auto <br />dealers (both domestic and import), building materials, two hospitals (Kaiser and Sequoia), a University of <br />California extension campus, a community college (Cañada), a high school (Sequoia), and a variety of retailers <br />(Costco, K-Mart, Mervyns, and Target). The Port of Redwood City is the only deep-water port on the San <br />Francisco Bay south of San Francisco, serving the entire region as a key entry point for many types of materials <br />contributing to the local economy. Redwood City is also the county seat for San Mateo County, which results in a <br />high daytime population from people conducting matters at the county offices and courts. Notwithstanding the <br />economic situation, this diversity of economic activity will help Redwood City recover and position the City to <br />participate in the long-term economic growth that is certain to occur. <br /> <br />The Oracle Corporation, a leading database developer, maintains its world headquarters in Redwood City. Oracle <br />presently has over 6,500 employees in Redwood City and occupies 1.5 million square feet of commercial office <br />space. Broadvision, Electronic Arts, Informatica, and a number of other technology companies have also selected <br />Redwood City as the site for their world headquarters. <br /> <br />CaNT ACTING THE CITY'S FINANCIAL MANAGEMENT <br /> <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 101 7 Middlefield Road, Redwood City, CA 94063 <br /> <br />12 <br />