Confidence among San Diego County businesses in this month's Silvergate Bank-sponsored Business Forecast has fallen to the lowest point. Inconsistent since the beginning of the year, San Diego County's Business Outlook Index (BOI) is now at 15.7. While this is the lowest point the Index has hit since it began nearly three years ago, because the BOI ranges from -100 to +100, with zero being neutral, the business community's outlook is still in somewhat positive territory. This month's Forecast also took the annual measurement of how business friendly local governments are and whether firms are considering moving out of the County. The findings indicate that not much has changed since last year. Most business people see their local government as being friendly to commerce, and the percentage of businesses not considering a move out of the County is down slightly.
Statement from San Diego Regional Chamber: "We continue to see the affect government regulations, specifically minimum wage increases, have on the local business climate," said Jerry Sanders, President and CEO of the San Diego Regional Chamber. "This month, we see minimum wage contributing to how friendly businesses view government and in turn, how likely a company is to relocate. This is important information for our elected officials when considering business retention in the region." Read the full story