EconomySaturday, November 7
Economists say a lack of housing is holding back SLO County's economic growth
The Daily San Luis Obispo team
If you've wondered what's slowing SLO County's economy, economists at Friday's Central Coast Economic Forecast named a key reason: lack of housing. The county's GDP has lagged since around the mid-2010s, after tracking California's before that. KSBY said hundreds attended.
“At current prices, (SLO County) has a shortage of homes its workforce can afford.”
It wasn't all gloom. REACH CEO Melissa James said four SLO County companies landed acquisitions and contracts totaling $1.6 billion. French Hospital and Adventist Health combined on more than $700 million invested across multiple facilities.
$1.6 billionin acquisitions and contracts landed by four SLO County companies
REACH's Melissa James cited the total in her presentation.
Source: Pacific Coast Business Times
- Drags: shrinking labor force, stalled population growth, declining small businesses
- Bright spots: rising household incomes, tourism gains, Diablo Canyon operations
- Drivers named: Diablo Canyon, Vandenberg, aerospace, premium wine, high-end tourism
James skipped a forecast and instead chose to "place bets" on growth. She also asked for more voices when projects reach councils: decision-makers "need to hear from all of us; from the workers, employers, families, not just the opposition."
Melissa James is betting on four sources of growth
| Where | The bet |
|---|---|
| Vandenberg Space Force Base | Expansion |
| Paso Robles | A new spaceport |
| Diablo Canyon | State extends operations through 2045 |
| SLO County | 10,000 new homes by 2030 |
Source: Pacific Coast Business Times
Sources: Pacific Coast Business Times, KSBY News