Palo Alto is experiencing a wave of new business openings as more employees return to in-person work, boosting local retail and dining. - Six new businesses have opened or are about to open, including Yutori, Zingster's, La Corneta Taqueria, Rikyu, Bistro Demiya, and Fireclay Tile.
- Remote work jobs in Palo Alto dropped from 15,000 in 2021 to fewer than 8,000, driving more foot traffic. - Downtown retail vacancy rates are slowly improving, from 13.5% to 13.4% on University Avenue.
- The city is exploring a pop-up retail program to fill remaining vacant storefronts. The return to in-person work is revitalizing Palo Alto's commercial corridors, though the job market still lags pre-pandemic levels.