For the first time this year, San Diego’s gross domestic product is expected to surpass $200 billion. I was proud to take part in negotiations to provide tax credits for our biotechnology, life sciences, aerospace and film industries, all of which are major contributors to our regional economy.
Countywide, these industries employ 26,000 people with high-paying jobs, and generate billions of dollars for our local economy. They are also on the cutting edge of important research that has the potential to save millions of lives worldwide.
These industries are vital to job creation here in San Diego, but California still faces many challenges.
We can no longer rely on our state’s weather and beauty to attract new businesses and jobs. We need to be realistic about the level of competition we face.