Foster the Start-up, Attraction and Expansion of High-Wage Industries

The Central Coast supports a handful of global industries with potential to become prime drivers of high-paying jobs over the next 10 years.

 

Growth in these target industries will ripple throughout the economy, creating job and economic growth in other high-productivity/high-wage industries including professional services, the trades, engineering, healthcare and more.

The region also boasts unique physical and institutional assets instrumental in stimulating these target industries, including Cal Poly, Allan Hancock and Cuesta College and several underutilized airfields and military installations.

Farmers with drone on field

Agritech

With our rich agricultural heritage, our region can lead in the creation of technology, products and services that benefit yield, efficiency and profitability.

Offshore wind park

Renewable Energy

Ambitious renewable energy goals provide opportunity to pioneer off -shore wind, expand solar and explore reuse potential at two power plants.

Aerospace & Defense

Centered around three military bases, 16 airfields and a world-class engineering university, the region is poised to expand high-paying jobs in this fast-growing industry.

Three people in lab coats working at a computer

Precision Manufacturing

The region’s strong nucleus of highly specialized manufacturing firms has grown 37% over the last decade, with massive potential to continue on that trajectory.

Technology

The Central Coast is home to a robust and fast-growing technology sector encompassing software, information, artificial intelligence, bioscience and beyond.

Actions

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Coordinate With Partners

Coordinate and integrate the network of partners to support business needs on a regional scale. Create a tight network of partners from chambers of commerce, economic development organizations and industry associations to champion the startup, expansion and attraction of business by removing barriers and connecting business to needed resources such as facilities, talent, key infrastructure, etc.

Support Business Expansion

Develop a comprehensive asset map and inventory to support business expansion. This will boost efforts to target and generate job and industry growth through data-driven decisions and region-wide asset optimization.

Set Priorities

Convene industry sectors to set priorities and actions. Bringing industry leaders together to identify unique challenges and prioritize and coordinate regional action promotes economic expansion and job creation.

Support Partnerships

Support industry and workforce partnerships. The rapidly shifting job market demands better connection between workforce development programs and employer needs. Cultivating effective institutional-employer partnerships will result in education and training that is better aligned with job demand.

STAKEHOLDERS NEEDED AT THE TABLE:

  • Private industry
  • Local government
  • Venture capital
  • Allan Hancock College
  • Cuesta College
  • Cal Poly
  • K-12 education
  • Industry groups and associations
  • Workforce development boards
  • Central Coast Coalition of Chambers
  • Economic Vitality Corporation
  • EconAlliance

METRICS WE WILL USE TO TRACK SUCCESS

  • Year-over-year job growth by industry
  • Year-over-year salary growth by industry
  • Increase in number of companies within industry sectors doing business on the Central Coast
  • Dollars invested in industry-specific infrastructure
  • Venture capital funding of regional start-ups/scale-ups