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Today, San Diego Mayor Faulconer announced The City of San Diego has been awarded a $1.6 million grant from the Department of Defense’s Office of Economic Adjustment to support the resiliency and growth of local defense contractors.
The City of San Diego and key partners, including San Diego Regional EDC, County of San Diego, San Diego Military Advisory Council, East County Economic Development Corporation and South County Economic Development Corporation – collectively named Propel San Diego – will deploy programs to support the region’s defense ecosystem.
Leveraging the grant, the Propel San Diego team will concentrate on economic development strategies for companies expanding in or at risk of leaving the region. As part of this work, Propel San Diego will create a database of all defense firms in San Diego County and deploy an interactive tool to explain and model changes in defense spending activity.
Home to the largest concentration of military assets in the world, San Diego’s economy is inextricably linked to the national defense ecosystem. According to SDMAC, the total economic impact of the defense industry is nearly $45 billion.
Defense-related organizations are as diverse as San Diego’s key industries and include companies specializing in aerospace, maritime, unmanned vehicles, robotics, autonomous systems, cybersecurity, advanced manufacturing and more.
Leveraging DoD support, Propel San Diego programs aim to help San Diego retain highly-skilled talent and create increased stability for defense companies in an increasingly uncertain defense budget world.
Propel San Diego sentiments:
For more information, visit OEA.gov.