San Diego's South Bay Region is Poised for Growth, Local Experts Say
LA PRENSA SAN DIEGO
Friday, October 17, 2014
The first panel discussion featured an economic outlook for South County and the San Diego region. Panelists included Mark Cafferty, President and CEO of the San Diego Regional Economic Development Council; Kelly Cunningham, Senior Fellow and Economist for the National University System Institute for Policy Research; and Dr. James Gerber, Economics Professor at San Diego State University.
Six years since the onset of the nation’s Great Depression in 2008, and five years after the recovery began in 2009, San Diego’s total economy and job numbers have recovered and exceeded pre-recession levels, Cunningham said. However, not all San Diego economic sectors and/or job categories have recovered, and remain mired at recessionary levels.
“San Diego’s economic environment has considerably shifted. Real estate and leasing, professional and business services, health care, government – including military, utilities and even manufacturing are at record economic levels,” Cunningham said. “On the other hand, construction, information, retail trade and transportation/warehousing sectors remain far from recovery.”
These bi-level movements will continue to significantly reshape the region’s economic environment, Cunningham said.