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Council receives midyear economic update; approves roughly $490,000 in general fund additions
Summary
Carlsbad received an economic update and a midyear budget review. Staff reported $18.7 billion gross regional product for the area, cooling hiring, a sales-tax shortfall driven by a one-time adjustment, and requested approximately $490,000 in general-fund additions (including $150,000 for ambulance coverage and $200,000 for medical-transport reimbursement); council approved the resolutions unanimously.
Economic Development Director Matt Sanford and Finance Director Zach Korach presented the city's second-quarter economic update and the midyear budget review. Sanford said Carlsbad's estimated gross regional product for 2025 was about $18.7 billion and described mixed sector performance: hospitality, tourism, real estate and health sectors showed modest expansion while some manufacturing and R&D segments softened.
Korach reviewed midyear general fund revenues and explained that, while total revenues were…
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