Welcome to the City of Escondido Economic Development five-year roadmap. On June 7, 2023 the Escondido City Council approved the 2023-2028 Comprehensive Economic Development Strategy (CEDS). This document outlines data and community feedback about the City's economy and outlines a five-year plan to improve the local economy.
In Southern California, the cost of living and doing business is high compared to other areas of the state and country, however, Escondido remains relatively affordable. This means that many people choose to call Escondido home.
While opportunities to have a home or start a business in Escondido are widespread, the local economy is seeing some concerning signs that are important for the City and the larger community to be aware of to ensure the future economic success of the City.
Did you know that the City of Escondido population is in decline for ages 0-5 and 20-29? That means that young families are choosing not to stay in Escondido or they are not moving into Escondido. This poses a problem for our future labor market and retail sales.
Did you know that 1 in 5 adults over the age of 25 living in Escondido do not have a high school diploma or equivalent? This limits the opportunities that our residents have to find work that will provide a livable wage and prevents our companies from finding qualified talent.
The City is also facing a commuter mismatch, meaning, there are people who currently live in Escondido who commute elsewhere for work. There is an opportunity to improve quality of life and increase job opportunities locally by attracting the right jobs to Escondido.
In Southern California land prices are high, but Escondido remains relatively affordable, which provides opportunity. At the same time, with few new construction opportunities, the City must maximize land value for housing and jobs.
The first section of the CEDS takes a deep look at the City's economic data and the second part outlines an action plan to address the issues identified by the data. The action plan first identifies four fundamentals and then three thematic areas of focus.
Read the full CEDS report here.
Frequently Asked Questions
What is the City of Escondido Comprehensive Economic Development Strategy (CEDS)?
Every five years, the City of Escondido Economic Development team updates the Comprehensive Economic Development Strategy (CEDS). The CEDS is a document that uses data and community feedback to create policy and activity priorities for a five year timeframe. The document must be adopted by City Council and then filed with the federal government bureau, the Economic Development Administration (EDA). Learn more about the federal EDA CEDS.
Why does it matter?
The CEDS is a way to set a plan to attract and retain high-wage and critical businesses. Businesses play an important role in our community, providing jobs, goods and services to our residents. Many businesses also provide sales tax revenue, and serve as a catalyst to attract investment into the City to fund infrastructure improvements.
This document serves as a way to unite the City with private sector, nonprofit and other government entities on the economic development priorities of the City that will create a healthy economy. One in which people can find the jobs they want to grow their careers, and that provides the financial backbone of the community.
What type of community participation occurred in the process of creating the CEDS?
In this process, in addition to analyzing the data and learning from economic trends, and historical policies, the City heard feedback from residents, nonprofit leaders and business owners. Participants attended in-person meetings or completed an online survey that was available in both English and in Spanish. All together, the City presented at 7 community meetings with 105 meeting participants and received 128 survey responses. If you have additional feedback, comments, questions or if your business is looking for support, please contact our team.
What was the timeline for updating the CEDS?
June 2022: Economic Development subcommittee meeting to begin the process of updating the CEDS
July 2022: The planning process begins to create a new CEDS; community information meetings like this one at the Greater Escondido Chamber of Commerce, to gather initial community feedback
August: City staff drafts RFP for CEDS consultant
September: City attorney and finance department approve RFP
October 2022: Release the RFP for a CEDS consultant
November 2022: Potential consultant interviews
December 2022: Consultant selected
January 2023: Consultant work commences, literature review
February 2023: Data gathering and collection
March 2023: City staff presentation of literature and data, community survey design, community meetings commence
April 2023: Community meetings continue, Economic Development subcommittee presentation and feedback
May 2023: Community meetings continue, preparation of final report
June 2023: Presentation of CEDS to City Council for adoption and submission to the EDA
If you have additional feedback about the CEDS, would like more information or support for your business, please contact our team.