Vacancy Rates Fall as Economy Hits Warp Speed

SAN DIEGO-Office and industrial vacancy rates dropped as the San Diego County economy remained strong during the third quarter and continued to add jobs, according to a new report.

Biotech and telecommunications are leading the charge in the county, where forecasters are optimistic that the expansion will continue well into the next year, Jerry Holdner, VP of marketing for Voit Commercial Brokerage, tells GlobeSt.com.

The local economy added an estimated 36,000 jobs in 1999 and is on pace to add another 30,000 in 2000. San Diego County’s jobless rate was 3% in September–a command performance compared to the state’s already low rate of 4.8%.