Not an expert on this but seem to remember a few things about SD being one of the places defense jobs get consolidated into as well as some major contracts that are coming here also.
Also just one lonely data point but in over 10 years in this business I cant think of 5 buyers or sellers that I ran into related to the DoD jobs. I guess it must be an artifact of where most of my business takes me and doesnt take me.
I also dont think there is a chance of a 1990 repeat. Back them 30K jobs disappeared almost over night. Therent any employers big enough for that to happen here. It was also pre biotech/pharma/software/telcom explosions that have taken hold since the late 1990s. Its different this time.