San Francisco to push economic development

SAN FRANCISCO, March 23 (UPI) -- San Francisco's economic development agency will be reformed as Mayor Gavin Newsome tries to pump up the city's business climate.

Newsome announced the move Monday as part of his overall plan to revitalize the San Francisco economy and build up the job base that was rocked by the dot-com downturn a few years ago.

Newsom said his priorities include nurturing the medical sciences industry and creating new business improvement districts in areas such as Fishermen's Wharf and the downtown Tenderloin District.

The reconstituted Office of Economic and Job Development will meet with San Francisco's 100 largest and fastest-growing companies in the coming weeks to help make sure they don't some day pack up and move out of the high-priced city.

The office will also go after development grants and other funding to clean up environmental contamination on potentially valuable commercial real estate.