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San Diego's
strengthened economy and consumer confidence
has given the retail industry reason to
celebrate. Retail sales are up with many
stores reporting a record volume in
transactions, about $19.8 billion in taxable
revenue in 1998. Investors also went on a
shopping spree this last year. purchasing
record numbers of retail strips,
neighborhood and community malls.
The food and
beverage industry, which represents 6 cents
of every sales tax dollar, is on the rebound
despite the challenges presented by the
recent prohibition of smoking in bars and
restaurants and an increase in the minimum
wage. Today, Californians spend 40 percent
of their food budget in restaurants. There
are more than 6,500 restaurants and fast
food outlets in the county.
Several groups
assist retail outlets with start-up and
growth including the San Diego Regional
Chamber of Commerce and Its Emerging
Business Center, the Food and Beverage
Association and the Business Industry
District (BID) Council. This organization is
an aggregation of 18 formal business
districts working on self-improvement which
will benefit not only the small companies
and retail stores but also the neighborhoods
where they do business.
To learn more about San
Diego's other main business, click the
buttons on the left. |
