Measure A is not a new concept. Ventura County adopted measures just like Measure A in the late ’90s, which led to an exodus of families and jobs because home prices soared and businesses, including biopharmaceutical giant Amgen, either downsized or moved operations elsewhere.
Measure A is not a new concept. Ventura County adopted measures just like Measure A in the late ’90s, which led to an exodus of families and jobs because home prices soared and businesses, including biopharmaceutical giant Amgen, either downsized or moved operations elsewhere. The County never recovered:
“In 2019, Ventura County faced a weak economic outlook due to the declining housing affordability and lack of job growth.” Read more.
Before passing similar measures, Ventura employment out-performed the rest of California. Jobs there grew 50 percent better than the state. But since passing those measures, job growth has been 50 percent worse because housing costs have soared. This is all documented by the Fermanian Business & Economic Institute at Point Loma Nazarene University.
“In 2015-16, Ventura County fell into recession. This downturn contrasted sharply with the continued expansion in the rest of California and the nation. Companies have either downsized or left Ventura County due to the lack of adequate housing for current or prospective employees. During the past five years, the number of firms that have departed Ventura County for adjacent areas or outside the state has been unprecedented,” the Fermanian study says. We do not want to end up like Ventura County.
Local businesses are already struggling to recruit and retain talent because of our housing crisis, and Measure A would make our housing crisis worse and drive more jobs and businesses away.
“If we do not provide more homes and apartments San Diegans can afford, they are going to keep leaving, and Measure A will absolutely make this problem worse because it will further restrict supply,” local economist Gary London said. “This initiative would absolutely hurt our economy. Some businesses will close, others will choose not to expand or locate here, and jobs will be lost.” Listen to Mr. London discuss Measure A on this podcast.
“Measure A would drive more businesses and jobs out of San Diego,” said Stefanie Benvenuto, Vice President of Public Policy of the San Diego Regional Chamber of Commerce. “We at the Chamber represent about 2,500 businesses, and I can tell you what almost all of them tell me is that their biggest concern is housing.”
Click here to read the campaign's news release on the negative economic impacts of Measure A.
The wealthy, out-of-state backers of Measure A wrote it to protect the Golden Door Spa, which campaign finance records show has contributed hundreds of thousands of dollars to Measure A. This luxury resort near Escondido attracts the rich and famous, who pay $10,000 a week. The owners are among the richest people in the world.
These extremely wealthy Wall Street investors want to keep affordable homes far away from their exclusive hotel and force them into congested neighborhoods. Their measure exempts commercial and industrial developments, including casinos, hotels and expanding the Golden Door.