San Diego's manufacturing sector has emerged as a significant economic force, boasting an impressive annual economic impact of $47 billion. This growth has outpaced both California and the national averages over the past five years, reflecting a robust local industry that supports 121,027 jobs across 4,429 establishments [62d723b7].
The average annual wages in this sector exceed $103,000, which is 31% higher than the regional average, highlighting the lucrative opportunities available within manufacturing in San Diego. Notably, more than one-third of the manufacturing workforce is employed by small businesses, underscoring the critical role these enterprises play in the local economy [62d723b7].
The report detailing these findings was released during National Manufacturing Month, emphasizing the importance of this sector to the region's economic health. Key figures in the report include local leaders such as Eduardo Velasquez, Raul Campillo, and Keith Blackburn, who have been instrumental in advocating for manufacturing growth [62d723b7].
Despite these positive developments, challenges remain, including high living costs and a low ease of doing business, which could hinder future growth and sustainability in the sector [62d723b7].