Chamber conducts study on San Diego economy
SAN DIEGO (KUSI) – The local chamber of commerce released a new study to help businesses better understand San Diego’s economy, and sub-par is an apt description for the business climate in San Diego, and in California.
The chamber’s new initiative is to help re-shape the city’s and the state’s business climate.
It is one of the reasons the chamber commissioned the Tax Foundation in Washington D.C. To help business owners better understand the economy and the tax system.
Joseph Henchmen detailed the report to some 20 business owners.
“California’s tax burden is significant. It’s the highest gas taxes in the country, some of the highest biz taxes in the country, very high income taxes, if there’s a tax it’s high in California,” said Henchmen.
Not only do businesses have high taxes, but individuals too, and Tax Freedom Day is the day when individuals earn enough to pay state taxes, which doesn’t come until April 30th.
“It’s pretty late in California compared to other states in the country, and that’s representative of a high tax burden,” said Henchmen.
The study compared San Diego to five comparable cities, and San Diego fared well.
San Diego is weak in manufacturing, finance and agriculture.
None of this is really new, but what is new is the chamber seeing business coming more aggressive and beginning to capture the voters.
“Business can force change. I think they’ve been kind of passive in the past, and we’re seeing that biz isn’t doing that any longer. I think we’ve seen that with the three referendums that the chamber’s been a part of, they’re saying enough is enough,” said Sanders.
At the state level the chamber will become aggressive on taxes and spending.
If some of the reforms can be implemented the chamber says the business climate will change for the better, business will expand, and expansion will create jobs and revenues for the state and local governments.