Among several messages this morning to CDSI Research from Diablo Vista region neighbors were references to George Avalos' article on Jobs in the SRV Times business section. The significant downturn in jobs are related to the overbuilt inventory of homes in Contra Costa County that cannot attract enough qualified, interested buyers at the inventory's price levels. Mr. Avalos clearly summarized the dependence of Contra Costa County economy on residential development and we should expect an impact on government revenues in our county.
Our e-exchanges this morning were looking at growth industries that have been less than welcome during the building boom years and now need new consideration. Technology development among medical device, biochemistry, solar, alternative energy, solid state data storage, and other microtechnologies have been proposed for new industrial partnership and commercialization (IPAC) centers in Richmond, Concord, Byron, Oakley, and even Alamo over the past 5-7 years. Such technology start-up generates new industries for industrial parks to surround such IPAC centers.
Unfortunately, our regional governments have opposed such centers and parks in favor of housing construction and the related tax revenues. A short-sighted viewpoint had resisted such technology and industrial development due to trade zone taxation holidays. The obvious value of high-level job creation for potential home buyers was not considered. The influence of global capital in such development of facilities and portfolio companies was considered opposition to our county's aggregated political supporters and a threat to in-place political leadership.
May we have your thoughts on economic development and how such development should fit into Contra Costa County and our local region?
Member, CDSI Research Fellowship