Our Economic Development Department (EDD) has put together a new Economic Development Strategy that details real-world programs and initiatives to help boost the local economy and ensure it works for all San Diegans.  

The Development Strategy outlines how the City of San Diego can have a positive impact on the lives of individuals, families, organizations and communities in San Diego, and it redefines the City's approach to economic development by placing a renewed emphasis on quality of life and community partnerships. 

This shift has led to the EDD’s program implementation related to the Promise Zone, Housing and Urban Development (HUD) services, Small Business Engagement, and Capacity Building grants. 

This new plan was informed by the priorities and concerns raised through an intense community engagement process and the input the City received from community-based organizations, residents, industry representatives, and businesses with which the EDD partners and serves. 

The Economic Development Strategy focuses on four pillars  

• Support for families and workers  

• Support small and local business 

• Bolster trade and innovation 

• Strengthen Neighborhoods 

In furtherance of these objectives, the Economic Development and Intergovernmental Relations Committee unanimously approved proposed revisions to Council Policy 900-12 updating the City’s Business Incentive Program on Wednesday.   

The proposal will remove barriers that have prevented many businesses from qualifying for direct assistance from the City. Under the new guidelines, qualifying businesses that create or retain jobs and make capital investments can be eligible for incentives ranging from $10,000 to $100,000 that can be used to pay for City fees, workforce development training, financing, and technical support.  The new program will be considered by the full Council in January, and is expected to be activated in February 2024. 

Much remains to be done, but City staff, in collaboration with my office and the City Council, are set to tackle San Diego’s needs through various plans and initiatives.  

This new strategy will complement the City’s ongoing efforts to boost our local economy by guiding the City’s Economic Development staff as they help cultivate an economy in San Diego that works for all of us.