CONNECT
Thursday, August 3, 2017
San Diego Innovation Economy - Economic Impact growth
San Diego’s innovation economy companies directly generate more than $60 billion in sales, employ more than 150,000 workers, and provide $18 billion in payrolls annually. The direct economic contribution to San Diego’s economy is more than $28 billion, accounting for more than 13 percent of the regional economy or gross domestic product (GDP), estimated to be $220 billion. Including indirect and induced impacts results in a $57 billion impact, or 26 percent of San Diego’s estimated GDP. Including indirect and induced jobs impact, the multiplier effect on jobs is 2.7 - this means for every technology job, another 2.7 jobs are dependent or created.
Source: National University System Institute for Policy Research, based on IMPLAN econometric model for San Diego County; SANDAG; San Diego Tourism Authority Annual Report; San Diego Military Advisory Council (SDMAC); San Diego EDC Research Institution Report (2015); CONNECT.