| Newsletter November 2006 |
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Mark Your Calendar Board Meeting Thursday, November 9, 2006, 3:30 p.m. - 5 p.m., San Marcos City Hall No Board Meeting in December instead we will have our Holiday Luncheon Marketing Committee No committee in December Public Policy Committee No committee in December Member Kudos Bring a guest to a Board Meeting and get Kudos on our web site and news letter for that month for both your company and your guests company. This is to help promote membership within the EDC, increase the EDC database, and hopefully engaging new companies to join the EDC. Kathy David from it.techPros (www.it-techpros.com) was a guest of Diane Strand at JDS Video & Media Productions, Inc. at the 10/12/06 board meeting. |
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Save the Date HirePatriots.com The Premier military job board in San Diego is proud to announce its Job Fair at Marine Air Station Miramar: November 8th, 2006 10 a.m. - 3 p.m. Officers Club For more information visit www.HirePatriots.com. Holiday Luncheon & Award Presentation Thursday, December 7th, 2006 11:30 a.m. - 1 p.m. California Center for the Arts, Escondido Conference Center 340 North Escondido Blvd. Escondido, CA 92025 Holiday Luncheon Event Sponsors SignOnSanDiego.com by the Union-Tribune Supervisor Bill Horn, County of San Diego BioFilm, Inc. |
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Welcome! SDNEDC Renewing Members: City of Vista, Vista Irrigation District, Palomar Pomerado Health Presentation to the Board Presenter: City of Oceanside Update by Jane McVey, Economic Development & Redevelopment Director: Jane gave a general overview of the business and economic development going on in Oceanside. Several new residential, commercial and mixed-use projects are currently under construction or due to start. The Oceanside Terrace project by Janez/Ledcor is due to break ground any day. This six-story project, immediately adjacent to the Regal Cinema, will have two levels of underground parking, 8,050 square feet of restaurant and commercial on the first floor, 18,610 square feet of office on the second floor and 38 condominiums on the four floors above. Another exiting project due to start is the Oceanside Pier Resort. This is a seven-story beachfront project which will have 136 timeshare units plus 32 hotel rooms, 12,200 square feet of restaurant and commercial retail space, and two levels of underground parking. Other items of note: There are currently 60,152 households in Oceanside and 175,085 residents The median family income is $64,378 The growth rate in population from 1990 2000 was 25% and Oceanside has 4,100 new homes being built. The city is 85 90% build out Oceanside views it greatest challenge to be the meeting of expectations for both the new and existing homeowners - which are not necessarily the same. Presentation to the Board Presenter: Hal Vorland Cricket Communications: Hal talked about the new wireless communication service being introduced to San Diego in December. They plan to open two company owned stores in San Marcos and Oceanside respectively and a number of franchise stores throughout North County adding over 140 new jobs. The client base they serve is usually younger than average with 64% of their customers earning less than $35,000 per year. Cricket is part of Leap Communications which is based in San Diego. Marketing Committee Diane Strand, Committee Chair, briefed the Board on the recently held press conference discussing the Education cluster and its impact on San Diego North. Diane referenced the Economic Chatter column that was to be published on October 19th that had a quote by Dennis Guseman "Human capital is the infrastructure for the 21st century, and education is the fuel," Dennis Guseman, dean of the College of Business at CSUSM, said recently. "Over the years, most people have thought of roads, utilities and buildings as the infrastructure, but today, it is knowledge or information that we are depending on to drive our economy. We must adapt to meet the needs of employers and the global marketplace. It is the role of educators to provide the knowledge and skills which allow individuals to contribute to the community and earn a wage providing a good quality of life." Center for Entreprenomics Diane notified the Board that an article on the Center for Entreprenomics would be appearing in a new magazine being launched in October called BizSanDiego. It would feature the SDNEDC and the work we are doing to coordinate the resources available to help businesses in North County thrive. Public Policy Committee Paul O'Neal, Committee Chair, reported on the meeting held October 5th to review the propositions appearing on the November ballot and to recommend positions for Board consideration. The Public Policy Committee made its recommendations and the Board voted: Propositions Proposition 1A Support Transportation Funding Protection -- State of California Proposition 1B Oppose Highway Safety, Traffic Reduction, Air Quality, and Port Security Proposition 1C Oppose Housing and Emergency Shelter Trust Fund Act of 2006 Proposition 1D Support Kindergarten-University Public Education Facilities Proposition 1E Support Disaster Preparedness and Flood Prevention Proposition 84 Oppose Water Quality, Safety and Supply. Flood Control. Natural Resource Protection. Park Improvements Proposition 86 Oppose Tax on Cigarettes -- State of California Proposition 87 Oppose Alternative Energy. Research, Production, Incentives. Tax on California Oil Producers Proposition 88 Oppose Education Funding. Real Property Parcel Tax Proposition 89 Oppose Political Campaigns. Public Financing. Corporate Tax Increase. Campaign Contribution and Expenditure Limits Proposition 90 Oppose Government Acquisition, Regulation of Private Property Proposition A No Position Commercial airport at MCAS Miramar Proposition M Support $694 million in bonds for school improvements -- Palomar Community College District Proposition T Support Hospital Construction, Improvement and Emergency Care Facilities Bond -- Tri-City Healthcare District The vote was to accept as recommended items 1A 1C and 1E, 84 89, after a motion was made by Joe Gabaldon and seconded by Paul O'Neal. After a discussion on Prop 1D a motion was made by Paul O'Neal in Support and was seconded by Joe Gabaldon the motion carried. After a discussion on Prop 90, a motion was made by Joe Gabaldon and seconded by Paul O'Neal to support the proposition the motioned carried. |
| U.S. Economy Will Grow Slowly and Not Sink into Recession, Conference Board Reports |
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Reported downturn is modest, but economic cycle is mature, says chief economist. Varied economic indicators produced by The Conference Board
are now pointing to slow growth ahead in the U.S., but not a recession, according to an analysis released yesterday by The Conference Board, the global research and business membership organization. Over the past three months, The Conference Board index of leading economic indicators has turned down relative to its level six months ago for the first time in this expansion. "While this signal is not particularly alarming, since the downturn is still rather modest, it does suggest that the economic cycle is more mature than is generally presumed," says Fosler. "Although such downturns do occur, they usually happen toward the end of the economic cycle." The current downturn is still in the range of the 1995 slowdown rather than the sharper declines before the 1990 and 2001 recessions. The rate of change in the leading index is as important as its level. The LEI may dip into negative territory, but the decline is likely to be modest or brief. The key element is not only the level of the index, but the magnitude and duration of its decline. According to both of these indicators, the LEI is now signaling a downturnnot a recession. The next several months bear watching. Earlier, the Fed's tightening had little or no impact and it appeared that the U.S. economy might be reaccelerating after the shock from Hurricane Katrina in the fourth quarter. The deceleration in the economy is clearer now that consumer and investment spending and the housing and employment sectors are beginning to weaken. Over the past two years, the financial indicators in the LEI have taken the U.S. economy toward lower ground and the nonfinancial indicators are now following suit. Where Will Profits Go? Corporate profitability, which is an important long-lead indicator of the business cycle, is making stunning gains. When corporate profits are high, investment usually grows rapidly and businesses spend more freely on travel, marketing, and other general administrative expenses. Hiring rises and, equally important, so does liquidity. "What is clear is that companies have been spending their cash flow freely through investments and stock buybacks and increased dividends," adds Fosler. "Companies still appear relatively liquid, but the financing gap is now in territory that bears vigilance." |
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San Diego North Economic Development Council, 100 N. Rancho Santa Fe Rd., Suite 124, San Marcos, CA 92069 Phone: 760-598-9311 Fax: 760-598-9325 or email garyknight@sandiegnorthedc.org stephanieweber@sandiegonorthedc.org |
