Home to one of the largest concentration of military assets in the world, San Diego’s regional economy is heavily dependent on defense industry financial input. Collectively, direct defense spending was around $24.8 billion in 2015. This amounts to 21.5% of the county’s Gross Regional Product (GRP). More than one out of every five jobs in the region is directly tied to defense spending. Since defense spending generates an economic impact that far outpaces other industries in the area, it is a significant cause of vulnerability in the local economy. The City of San Diego was awarded a significant grant from the Department of Defence, Office of Economic Adjustment, in order to enhance resiliency and economic diversity of businesses within the defense sector in this region.
Future iQ have been contracted by the City of San Diego to help facilitate the development of a regional consortium. This work will include: