FBEI’s Navy Broadway Complex Redevelopment Economic Impact Report Released by SDMAC
The San Diego Military Advisory Council (SDMAC) announced the results of a report completed by PLNU’s Fermanian Business & Economic Institute (FBEI) today. The report quantifies the economic impact on the San Diego area that would result from the proposed Navy Broadway Complex Redevelopment proposed for the downtown area.
SDMAC and Dr. Lynn Reaser of PLNU presented the report at a press conference on Friday, October 28, at 10:30 a.m., at the Broadway View Room on the Broadway Pier, San Diego. Ruben Barrales, President & CEO of the San Diego Regional Chamber of Commerce, also participated in the program.
John Pettitt, president of SDMAC, said, “The proposed Navy Broadway Complex Redevelopment project represents a major development effort for San Diego. The project will have a positive impact of great significance to jobs, income, and the San Diego region’s total output of goods and services. It is estimated that as a result of the redevelopment 7,400 total new jobs will be created, and over $350 million in income and nearly $850 million to the region’s total output would be generated. This redevelopment project would provide a highly productive use of now largely vacant land and generate sizable tax revenues.”
The economic impact report was completed by PLNU's chief economist, Dr. Lynn Reaser, and FBEI research assistant, Dieter Mauerman.