It’s a simple word that takes on different meanings, but for EDC, it describes both what we do and how we do it. In 2016, we were all about connecting... Connecting companies to global markets. Connecting business to opportunities. And connecting with the people who make our economic development work possible.
Learn more about our story—and the connections that drive it—below:
On any given day, EDC’s economic development team is spread throughout the mega-region, working one-on-one with companies looking to grow in San Diego. In 2016, we worked with and through our network of partners to support economic growth. Here are some of those numbers:
When BD—the world’s largest medication management company—announced they were acquiring San Diego-based CareFusion, many thought that would signal the loss of one of San Diego’s home grown companies. But it turns out, the opposite was true.
EDC connected the newly-integrated company to resources to ensure it continued to flourish in San Diego, protecting the jobs of more than 3,000 people in the region.
Upon news of the merger, Mayor Faulconer made a personal call to BD executives to ensure the company had what it needed to stay in San Diego. And it sounds like they did:
Mark Field had an idea.
As CTO of life sciences giant Thermo Fisher Scientific, Field is responsible for the technology that drives the genomics company. He needed more software support talent, but instead of developing a software base in Eastern Europe or Asia, he built an office in Tijuana, an hour south of Thermo Fisher’s Carlsbad location.
Thermo Fisher opened a Software Center of Excellence in Tijuana earlier this year. The new office employs nearly 100 people.
With EDC’s guidance, Thermo Fisher’s expansion into Tijuana has enabled increased company productivity and job growth. Quality software talent just an hour from our Carlsbad operations, dynamic office space and supportive regional organizations like EDC are among many reasons the expansion has served us well.
Expedited permitting can be the difference between thousands of dollars and a company’s decision to grow in a region. This was the case for Carlsbad’s Nordson ASYMTEK. Through Innovate78—a five-city marketing and economic development collaborative—EDC and the city of Carlsbad facilitated the expansion of the manufacturer’s operations, supporting the addition of 500 jobs in North County.
Let’s face it—companies can grow faster when they are being rewarded for their growth. This is why EDC connects local businesses with the California Competes Tax Credit, a discretionary incentive managed by the Governor’s Office of Business and Economic Development (GO-Biz).
In 2016, EDC supported five companies that were awarded a combined $3,475,000 in tax credits to create 111 jobs over the next five years.
With a projected in-state investment of $58 million, Hunter Industries was an ideal candidate for the Cal Competes Tax Credit. EDC worked in lock-step with Hunter–the largest private employer in San Marcos–to ensure the irrigation manufacturer presented a competitive application. Ultimately, GO-Biz awarded Hunter an $850,000 tax credit to help with facility expansion, equipment purchases and hiring, supporting the company in adding 111 jobs.
Approximately 128,000 of the region’s jobs are supported by exports, and 55,000 San Diegans are employed by foreign-owned enterprises. Given these numbers, it’s safe to say that global connectivity is a critical component of San Diego’s overall economic health. As a way to grow international trade and investment across San Diego, EDC and founding partners relaunched the World Trade Center San Diego (WTCSD). As an EDC affiliate, WTCSD is driving connections between San Diego and the global market. Here’s how:
Wheels up! With and through a partnership with the San Diego Tourism Authority and San Diego County Regional Airport Authority, San Diego added two new nonstop flights to its international roster: Condor’s service to Frankfurt and Edelweiss’ service to Zurich. Service will begin in 2017.
A craft brewer looking to break into Japan. A banjo maker with its eye on India. A med device company forging connections with the UK. MetroConnect, WTCSD’s export assistance program, worked with a cohort of 15 local companies across a variety of sectors. Made possible by the support of JPMorgan Chase, these companies received financial and programmatic resources to support their plans to expand internationally. Collectively, MetroConnect companies earned $6 million in additional export sales and added 42 jobs to the regional economy.
Home to the largest concentration of military assets in the world, San Diego’s economic health is inextricably linked to our military and defense industry. Protecting and expanding the region’s military presence is a priority for EDC.
EDC advocated for the passage of AB 442, a bill which codified the existence of California Governor Jerry Brown’s Military Council. The council provides an official forum for military leaders to interact with state government in order to enhance military readiness for service members across California.
With EDC’s guidance, the city of San Diego was awarded a $1.6 million grant from the Department of Defense (DoD). The Office of Economic Adjustment Grant will enable EDC and peers to develop programs to enhance the resiliency of the region’s defense industrial base.
San Diego’s defense sector is an important economic driver for our region and serves as a job provider for our families, friends and neighbors. With the OEA Grant, San Diego stands to strengthen our defense economy and bring military innovations to the commercial market. The city is proud to work alongside San Diego Regional EDC and other local partners to leverage our defense community to create a more resilient economy.
Talent is the cornerstone of our economy. In other words: it all comes down to the people.
EDC is encouraging college students to stay in the region, attracting soon-to-be grads from elsewhere to San Diego and providing young people with local career development opportunities through a variety of programs including:
Bringing San Diego Mayor Kevin Faulconer’s workforce development initiative to a regional level, EDC, the city of San Diego and the San Diego County College and Career Readiness Consortium challenged local businesses to provide work-based learning opportunities for youth through One San Diego 100. To date, more than 70 companies have been involved.
Many recent college grads leave San Diego not because there is a lack of opportunity, but because they are unaware of the opportunities that exist here. Link2 San Diego is changing that. The series spotlights job opportunities across a variety of sectors and even brings students to companies to learn firsthand about the jobs available here. In 2016, the series connected 1,965 students to 43 companies.
Closing out its second year, SD Hacks is San Diego’s largest collegiate hackathon. The event brought together more than 1,100 students from across the country to compete in a coding competition and connect with local industry leaders. Facilitated by EDC, organizations such as ViaSat, Qualcomm, SPAWAR, Perkins Coie and the city of San Diego got a firsthand view of the students in action.
Now in its fourth year, San Diego Manufacturing Day is part of a national program celebrating the manufacturing industry and the technical workforce that drives its growth. Underwritten by Samsung, EDC hosted the largest MFG Day event in the state and supported more than 60 public tours of facilities on both sides of the border including Taylor Guitars, Samsung, Stone Brewing and more.
By connecting San Diegans with key industries, EDC is ensuring the continued growth of jobs and investment in the bi-national region.
Understanding our economy begins with strong data. EDC released several studies on the region’s key industry clusters and pertinent legislation. Now, EDC has the data to support San Diego’s industries and drive its agenda.
2016 was all about connection. With and through our partners and investors, EDC connected local business with 35 global markets, state-wide leadership, local universities and more to drive economic growth and innovation across the region. Together, we are successfully positioning San Diego as the place to both live and work. From Team EDC, thank you for connecting with us.