California CEO has ranked San Diego as the number one city for business in California. Despite traffic problems and rising home prices, the city has a booming economy. San Diego has an ideal business climate because of two state Enterprise Zones, a designated Foreign Trade Zone and plenty of talented labor from 200,000 local college students. In addition, it has the third largest concentration of biotech companies and the fourth largest concentration of telecom companies in the nation. According the California Economic Growth Center, job levels in San Diego are expected to increase 33.7 percent. Other local cities that made the top 25 are Poway (14) and San Marcos (22).