> 1966 in-depth economy report about the state of San Diego
1966 in-depth economy report about the state of San Diego
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This is an in-depth, fascinating special report about the state of San Diego in 1966. We have so much to learn from our archives and this is a history lesson you’ll only find in News 8 Throwback.
Silent
April 25, 1966
There are few who would disagree with the statement that San Diego is a beautiful place to visit and in which to live. But if beauty is only skin deep, there has got to be something important hidden beneath the surface. For instance, our scenic Southern California coastline. Those who populate the coast enjoy its beauty but may not realize that its importance to our area does go deeper than the surface beauty. And it goes farther back than even the days when it was a relatively unpopulated coastline free of the houses, stores, and apartment buildings that now compete for ocean views. As a matter of fact, nature began developing San Diego for something more than its attractiveness to residents and tourists about 20 million years ago when the beaches and bays and magnificent underwater canyons began taking shape. And today what lies hidden beneath the water’s surface is becoming almost as important to the San Diego area economy as the tourist dollar from its scenic surface beauty. There are now some 51 firms and institutions here that are engaged in some form of oceanography. The importance of oceanographic research to the future of the San Diego economy is tremendous. In terms of dollars, economic benefits to the area, from money to be spent on oceanographic research here will soon be measured in the millions of dollars each year. Many large institutions and commercial firms engaged in underwater research are recognizing that this is the place to keep abreast of developments pioneered at the
University of California’s Scripps Institute of Oceanography. Research programs at the Naval Electronics Laboratory, the University of California, San Diego State College, and California Western University are part of that scientific climate. Thus, developments in aviation that were pioneered in this area are now finding companion activity in exploring the world underwater. The University of California is expanding its new campus at the rate of 10 million dollars a year and will do so every year until 1990. 18 million dollars in construction at State College and new campuses for Cal Western also mean new building dollars for the local economy adding to high rise construction downtown and helping to offset the lag in home building which has resulted from previous over building ad current tight money for home construction. Leaders of the local business community share an optimism. Says William Quirk of Pacific Telephone: “With all the developments here in the education and scientific fields, there’s no question about our economic future: it’s good.” Add to that thought the words of Tom Sefton of San Diego Trust and Savings: “The educational, cultural, and scientific advantages are obvious…plus we have a minimum percentage of unemployment here now; the business complexion in San Diego is generally good’ visitor traffic for this summer looks excellent. The next 6 months of our economy look very good indeed.” San Diego stood 11th among all cities in new construction for the first two months of this year. But what about the future? The San Diego Chamber of Commerce is trumpeting what it calls a “new mood” for the San Diego economy. It’s definitely a campaign of economic optimism—almost as optimistic as building freeway interchanges with no highways to serve them yet. A strong new community spirit is seen triggered by the voters’ strong acceptance of the 27-million-dollar multipurpose sports stadium for Mission Valley. That overwhelming vote of approval is seen as the signal that not just the Chamber of Commerce but even the people of San Diego have confidence in the big-league status of their city. You’ve been reminded many times of the significance of the “changing San Diego skyline”; the term has become almost a local cliché. But the new skyscraper office buildings downtown and those planned for the immediate future do show that the place is not standing still. Says Kim Fletcher of Home Federal: “The housing market here may have levelled off for a period but the community is catching up. People are coming in; nationwide interest in San Diego is high and we see a tremendous future economically.”