In 2012, Stockton filed for bankruptcy. It is the largest city in the United States to file for Chapter 9.
The city sent out an open letter to the community about their bankruptcy, explaining how the filing would affect the city. Part of the city’s mission is to preserve basic public health and safety services, such as police and fire departments. They face a total of $116 million in deficits.
The City of Stockton has been operating for 160 years and currently has almost 300,000 residents. Their plan to move forward includes initiatives on fighting crime and developing economic strategies.