Economic Development StrategyToday, the Carlsbad City Council continues to protect the collective interests of its citizens by providing a safe and healthy environment for its residents to live and work. Their vision is a Carlsbad that has a diverse and healthy economic base which provides employment to the residents of Carlsbad, economic vitality to the community, and the necessary revenues to support City services. To blend the goals of economic growth with the need to maintain and improve the community's quality of life, the City has developed a Five-Year Economic Development Strategic Plan. There are many challenges in developing a strategic plan that formalizes the City's policies and goals for future economic growth. Carlsbad is one of 18 incorporated areas within the County of San Diego and accounts for only 1.5% of the County's current total population. By the year 2000, it is estimated that Carlsbad's population will increase to 3.1% of the County total. Although local policies are developed to reflect the unique characteristics of Carlsbad, policies must also be developed to incorporate the economic strengths and weaknesses found in the entire San Diego Region. Over the past ten years, San Diego's economy has shifted causing the region to reevaluate its approach to economic development. Corporate downsizing, federal and military cutbacks, global markets, technological developments, demographic and lifestyle changes have driven the entire region to take a more aggressive approach to competing for new business and industry. A successful economic development program develops and maintains an appropriate economic, social and political environment, where balanced growth over a period of years may be realized. Economic Development is a process of creating wealth by mobilizing human, financial, physical, natural and capital resources to produce marketable goods and services. Activities that encourage and facilitate economic development are generally conducted by the following groups:
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