San Diego's strengthened
economy and consumer confidence has given the
retail industry reason to celebrate. Retail
sales are up with many stores reporting a record
volume in transactions, about $19.8 billion in
taxable revenue in 1998. Investors also went on
a shopping spree this last year. purchasing
record numbers of retail strips, neighborhood
and community malls.
The food and beverage
industry, which represents 6 cents of every
sales tax dollar, is on the rebound despite the
challenges presented by the recent prohibition
of smoking in bars and restaurants and an
increase in the minimum wage. Today,
Californians spend 40 percent of their food
budget in restaurants. There are more than 6,500
restaurants and fast food outlets in the county.
Several groups assist
retail outlets with start-up and growth
including the San Diego Regional Chamber of
Commerce and Its Emerging Business Center, the
Food and Beverage Association and the Business
Industry District (BID) Council. This
organization is an aggregation of 18 formal
business districts working on self-improvement
which will benefit not only the small companies
and retail stores but also the neighborhoods
where they do business.
To learn more about San
Diego's other main business, click the buttons
on the left.
