Central Coast group says it can add 15,000 high-paying jobs in next 10 years. Here’s how
By 2030, the Central Coast could have 15,000 more high-paying, head-of-household jobs — ones that would allow more people to comfortably live and work in San Luis Obispo County.
That’s according to REACH. And there is a plan to make it happen.
The economic development group formerly known as The Hourglass Project on Thursday revealed its massive plan toward increasing the number of high-paying local jobs by focusing on several growth industries, as well as a range of tangential issues that go into creating a diverse and vibrant economy.
The REACH 2030 plan spans educational opportunities, infrastructure and housing needs and partnerships with major key employers such as Vandenberg Air Force Base and Cal Poly.
“This last year has been a sprint to develop the plan, the vision and the partnerships to make a lasting impact on our region,” REACH CEO Melissa James said during a Zoom presentation Thursday. “Now the marathon of building a better future for all of us begins.”
Why does SLO County need a jobs initiative?
A massive exodus of San Luis Obispo County workers — primarily the young — could occur in the next several years, according to a study done by REACH earlier this year.
The group surveyed 540 registered voters, ages 18 to 54, in San Luis Obispo and northern Santa Barbara counties to determine the challenges faces the Central Coast workforce.
According to the results, released in February, the tenuous economic climate is the biggest concern for many local workers — and the reason many could choose to leave the area.
“What we found is a workforce that is losing hope, struggling to get by and considering leaving the area,” James said in a news release at the time.
The survey found that nearly 75% of respondents believe the “California Dream” and the opportunity for upward mobility are harder to obtain on the Central Coast than the rest of California. Only 7% considered it easier.
In addition, 86% of survey takers said they didn’t feel like their children and other young people would be able to live in the region once they are grown. And more than half of respondents said they believed the standard of living for middle-class workers in the area is actually getting worse.
Many also indicated they were struggling just to get by in the current climate, even before the coronavirus pandemic hit and shook the foundations of the local economy.
Nine out of every 10 respondents in the 18-to-24 age group said they are likely to leave, and half of respondents in that age group said they are “very likely” to move away, according to the report.
What is REACH 2030?
In Thursday’s Zoom presentation, James said REACH has been working on its action plan to add local jobs over the past year.
“What we know is the status quo is simply not good enough,” James said. “If we want the people of the Central Coast today and our kids tomorrow to have the opportunity to build a life, a home, a family, a career on the Central Coast, we must shift course.”
Thus REACH 2030 was born.
The group acts as a partnership between local business owners, government leaders and public stakeholders to find and implement ways to create a more vibrant and diverse economy in San Luis Obispo and northern Santa Barbara counties.
REACH 2030 specifically targets a “Central Coast Super Region,” spanning from Paso Robles to Solvang.
How will it increase jobs?
According to REACH’s research, despite other positive economic indicators, roughly 53% of the region’s jobs are low-wage, and the median wage is $25,000. This creates problems for people who wish to live and work on the Central Coast, but cannot afford the high cost of living on lower salaried positions.
To remedy that, the group and its partners said will focus on four key principles:
- Accelerate job growth in target industries such as agritech, clean tech and renewable energy and aerospace, defense and precision manufacturing and technology. This could by done by helping attract start-up and high-wage industries to set up shop in the region.
Create “world-class innovation hubs” by optimizing unique sites such as Diablo Canyon nuclear power plant once it shutters and Vandenberg Air Force Base as economic engines. A key part of this is transforming Vandenberg Air Force Base into a “thriving space enterprise” and helping to attract more commercial space opportunities to the base and surrounding area.
Break down barriers to job creation by addressing housing, transportation, water and related challenges and embracing “innovative financing tools.”
Prepare residents “for the jobs of today and tomorrow” by creating more and better educational and workforce opportunities.
The end goal will be to have added 15,000 new high-paying jobs — jobs where the wage is $50,000 or more — by 2030.
According to the group, as of 2020, there is roughly one “good-paying job” for every three working households. By 2030, REACH hopes to reduce that to one per every two working households, and by 2040, one good-paying job for every working household.
For specific details of the plan, visit REACH 2030’s website at: https://reachcentralcoast.org/wp-content/uploads/2020/06/REACH2030_ActionPlan.pdf .
What about the impact of coronavirus on the economy?
A key aspect of the plan is how it presents the opportunity for a region-wide approach to the challenges facing the Central Coast, rather than a piecemeal one, according to REACH 2030 organizers.
During the Zoom presentation, developer Nick Tompkins spoke in favor of the plan, saying “communities often end up competing with each other for a slice of the pie.”
“When REACH was founded ... I was really excited to take a look at the region and the opportunity to bring the communities together to find common solutions to our shared challenges and act as a region rather than individual communities competing with each other,” Tompkins said.
He also noted the impact of COVID-19 on residents and the economy as a prime example of why the region needs to work together to find solutions to its problems.
“Virtually every sector has been affected, but our regional tourism and hospitality — one of our largest employment sectors — has been the hardest hit, and it may take a significant amount of time to return to pre-pandemic levels of demand,” he said. “We must diversify our economy to ensure that we are able to withstand future shocks as they arrive.”
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