There’s nothing wrong with Santa Barbara County’s economy that a few corporate headquarters wouldn’t cure.
That’s one conclusion that can be drawn from a close examination of the data behind the recent UCSB Economic Forecast Project report.
Local government employment, the largest sector in the county, is pretty much flat at about 23,000. Given the state of public sector budgets, it’s going to be hard to see much more happening here.
But look at the management category, with about 1,300 employees. Average pay is $113,000 per year and has more than doubled in the past decade.
These are folks who can afford houses and who provide lots of spin-off work for service companies, attorneys and accountants. Even with the loss of Tenet Healthcare, Fidelity National and a few others, the category has grown slightly during the past few years.
The rest of the Tri-Counties should take note, too.