San Diego Awarded $1.6M Grant to Support Region's Defense ContractorsSunday, March 19, 2017
The city of San Diego has been awarded $1.6 million in federal money to support the region’s defense contractors.
Propel San Diego, as the effort is being called, will concentrate on economic development strategies for companies expanding in or at risk of leaving the region. The work will include creating a database of all defense firms in San Diego County that will be used to explain and model changes in defense spending activity.
According to the San Diego Military Advisory Council, the economic impact of the defense industry on the San Diego economy is nearly $45 billion.
Defense-related organizations include companies specializing in aerospace, maritime, unmanned vehicles, robotics, autonomous systems, cybersecurity and advanced manufacturing.
Mayor Kevin L. Faulconer on March 17 announced the grant, which will be deployed through a group of organizations partnering with the city on the effort. The organizations include the San Diego Regional Economic Development Corp., San Diego Military Advisory Council, East County Economic Development Corp., South County Economic Development Council, and the county of San Diego.
The funding comes from the Office of Economic Adjustment, a division of the Department of Defense.