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8/18/23
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This update provided by real estate services firm JLL
• Manufacturing demand has seen a recent resurgence in the greater San Diego market. A few notable subsectors that are fueling total manufacturing growth are defense, tech hardware, medical device, biotech and transportation manufacturing.
• This increase in demand is causing an uptick in both manufacturing jobs and companies. This could be a function of higher trade tariffs or the increasing cost of overseas logistics, which has brought these types of jobs back at a steady rate over the last 10 years.
• Total employment and the number of companies within the Pharmaceutical manufacturing subsector continues to grow at a faster clip than the manufacturing sector as a whole. Good Manufacturing Practice (GMP) facilities are typically located near top R&D/Biotech hubs in select markets. These types of assets are positioned to capture demand from life science companies performing pre-clinical manufacturing of all sizes.
• Currently there are 16 requirements, totaling about 1.1 msf, that are manufacturing-related and touring the market. As a result, this should add more jobs and companies to this growing sector.
This report was prepared by Patrick Ashton, Research Manager, JLL
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