Cal Poly generates $469 million in regional spending and a total of $29.6 million in tax revenue, according to the latest economic impact report from the California State University Chancellor's Office.

Other findings in the report: Cal Poly is responsible for the creation of more than 5,000 jobs, and Mustang alumni earn a total of $2.4 billion.

The $469 million in regional spending means that Cal Poly contributes more than 10 percent to the region’s $3.5 billion economy.

City Manager Katie Lichtig reported at last night’s council meeting on the results of a random survey of 400 city residents.

An amazing 97 percent rated SLO as an “excellent” or “very good” place to live. (That’s up two percent from the city’s 2005 survey.)

Eighty-one percent are optimistic that the city will stay as great in the future or get even better, and 72 percent rated SLO city government as “excellent” or “very good,” which is up four percent from the last survey.

This high satisfaction rating has very positive economic development implications.

After more than a year of planning, a San Luis Obispo-based business angel capital organization that mentors and funds early-stage technology companies has launched.

SLO Seed Ventures is partnering with Innovation Quest to host its first invitational boot camp starting on June 25.

Up to nine early-stage companies will be selected to participate based on applications submitted on the SLO Seed Ventures website by June 10.

Upon completion of the boot camp, SLO Seed Ventures will evaluate the companies for first-year funding in the $5,000-15,000 range and continue mentoring the selected companies.

With ridership steadily dropping and funding drying up, the city council last night decided to temporarily suspend the four-day-a-week trolley service that connects downtown with the Monterey Street motels.

It costs the city about $30,000 annually to run the service and there are now only about 20,000 riders per year who use it. After fare-box income, it loses about $23,000 per year.

The council asked staff to see if alternative sources of funding could be found. Until then, beginning Sept. 1 of this year, the trolley will stop running Fridays through Sundays, but will continue to run on Thursdays from 3:30 - 9 p.m.

In a memo this afternoon, City Manager Katie Lichtig told city employees that current Assistant City Manager Shelly Stanwyck will be moving to the position of Acting Director of Parks and Recreation and that the current recruitment effort for that position is now suspended.

Lichtig pointed to Stanwyck's strong leadership experience and the need for someone who could "help lead the department from day one."

The City will soon begin an internal recruitment process for the position of acting assistant city manager.

Although one month isn't exactly a trend, the just-released March Transient Occupancy Tax figures show the first increase in almost two years.

The March 2010 numbers, which reflect the gross revenue of city hotels and motels, was up 12.6 percent compared to March 2009.

Part of this increase is probably attributable to March 2009's horrible decline of 25 percent compared to March 2008. Fiscal year-to-date TOT revenue is down about 8 percent — that's slightly ahead of projections. During this interesting time, any TOT number north of zero is something to be thankful for.

Tourism has a direct impact on about 20 percent of the SLO economy.

San Luis Obispo's Charles Schwab office will soon be moving into downtown with an office about twice the size of their current Pacific Street location.

Insiders report that Schwab and CoastHills Federal Credit Union are separately in the final stages of negotiating leases on parts of the 775 Marsh St. complex.

Both are reportedly very close to signing.