National University System Institute for Policy Research

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Smarter Cities Richer



Wednesday, October 3, 2012

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Businesses are attracted to metro areas with a pool of educated people, says Kelly Cunningham, economist for the National University System Institute for Policy Research. In San Diego, the big research institutions such as Scripps Research Institute and Salk Institute spin off businesses that need educated employees. Cunningham points out that 6 percent of San Diego businesses and 11 percent of jobs are in technology. “Average pay in the tech industries is $100,000 per job, almost double the average job in the county of $51,000,” he says. Also, college grads are needed in small businesses: the county has 97,500 businesses and 96 percent have 50 or fewer employees. Unemployment rates are lower for college grads than for those with a high school degree or less.