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The Big Picture San Diego Blog


April 2017

April 26, 2017

 
The world is changing – for better and for worse. In San Diego, we know we can change it for the better and enjoy life in the process.
 
It's time we took our story into our hands. We're not Silicon Valley. We're not Los Angeles. And we're not Denver, Austin or New York. We're San Diego...and there's never been a better time to own our story.
 
Introducing San Diego: Life. Changing.: a campaign about real people who have chosen San Diego and have changed the world and upgraded their lives along the way. This is #LifeChangingSD. See the details at ImagineSanDiego.org.
 

And we need YOU to help us tell the world the real San Diego story.

April 21, 2017

“Unemployment rates are stabilizing across the region, as jobs are being filled more quickly and new businesses are coming online at the fastest rate we’ve seen in a year. Some of our biggest and best paying employers are those who are looking to hire right now.” - Phil Blair, President and CEO, Manpower
 
Each month the California Employment Development Department (EDD) releases unemployment data for the prior month. This edition of San Diego’s Economic Pulse covers March data, including unemployment data, new business establishments, job postings and who’s hiring in San Diego.
 
Highlights include:
  • With a total of 4,601 new establishments, March saw the largest number of new establishments in the past 12 months.
  • San Diego’s unemployment rate of 4.2 continues to be lower than both the California rate of 5.1 percent and the national rate of 4.6 percent.
  • Compared to a year ago, total nonfarm employment is up 29,600, or 2.1 percent, with 22,900 of those jobs coming from the private sector.
 

 

April 19, 2017

The technology cluster along the San Diego region’s 78 Corridor spans 70 different industries and 200 unique occupations. Encompassing the North County cities Carlsbad, Escondido, Oceanside, San Marcos and Vista, this well-established and diverse tech cluster is expected to grow by 5 percent over the next five years, according to a study released by Innovate78 today.

Study highlights include:

  • The 78 Corridor’s tech cluster has a $6.1 billion total economic impact annually, representing nearly 25,000 jobs.
  • North County’s technology cluster has a competitive advantage in precision manufacturing – specializing in the production of biomedical devices, telecommunications equipment and defense-related products.
  • The 78 Corridor’s tech cluster is 1.4 times more concentrated than the nation.
  • Biotech and biomed devices has been the fastest growing segment in the tech cluster, with a 9 percent increase in employment since 2011.


Read the executive summary and full study here.

April 18, 2017

Last time San Diego hosted BIO in 2014, San Diego companies were inundated with requests for meetings from visitors  looking to make connections outside of the convention center. After all, if you are going to visit one of the world's preeminent biotech hubs, you better take advantage of your surroundings. Many of these meetings result in inbound investment opportunities for San Diego businesses and research institutions.

WTC San Diego, in partnership with Biocom, has launched discoversdbio.com, a website that will track, vet and expand investment opportunities for San Diego businesses during the BIO International Convention

The 2017 BIO International Convention, the world’s leading biotechnology conference, comes to San Diego June 19 - June 21. In 2017, BIO is projected to attract more than 16,500 attendees, with more than 2,000 individuals coming from international destinations. These delegations, comprised of venture capitalists, foreign dignitaries, private companies and others, collectively send hundreds of requests to businesses and organizations for tours and meetings outside of the San Diego Convention Center.

Foreign investment (FDI) is an integral part of San Diego’s life sciences cluster. In Q1 2017 alone, 

San Diego’s life sciences cluster received more than $1.7 billion in FDI – more than 75 percent of the region’s total FDI during that quarter.

Discoversdbio.com will function as a one-stop-shop for delegations seeking opportunities in the broader San Diego community during BIO 2017. The tool will streamline requests, improve the tracking of visitors and strengthen the follow through. Delegations are directed to a website that captures contact information, delegation make-up, requested company tours and more.

“The annual BIO convention offers significant opportunities for companies to network at the conference, and because San Diego has a vibrant life sciences ecosystem, many visiting delegations are eager to make connections outside of the conference,” said Jennifer Landress, senior vice president and COO at Biocom. “However, sifting through a high volume of requests can be difficult. This tool will help track and vet the opportunities for San Diego organizations, giving them the information they need to make the decisions about which meetings to hold.”

San Diego life sciences companies and/or research institutions that are interested in hosting delegations, please contact Drew Garrison at dg@sandiegobusiness.org to be added to the website. 

San Diego Regional EDC, the parent organization of WTC San Diego, will also be running subsequent programming during BIO 2017 as a way to market the region and attract additional inbound investment. EDC will launch an economic impact study on San Diego’s genomics industry, making San Diego the first region in the U.S. to quantify its genomics industry.    

 

 

 

April 14, 2017

This week, World Trade Center San Diego and UC San Diego's School of Global Policy and Strategy (GPS) hosted Former Italian Prime Minister Enrico Letta at the second Global Forum program of the year. Prime Minister Letta, currently dean of the Paris School of International Affairs at Sciences Po, addressed the causes of Brexit and the ensuing European Migration Crisis drawing from his experiences as head of state of an EU border country.
 
The presentation touched on the linkages between major world events leading up to now, the future of the EU in light of upcoming French and German elections and flashpoints to monitor should internal negotiations in the EU fail to deliver workable solutions. During the Q&A session following the keynote, Prime Minister Letta expanded on the bureaucratic process of Brexit negotiations and the effect a final deal would have on stakeholders in the global market.
 
Sponsored by Bank of America, the Global Forum series is a partnership between GPS and WTC San Diego to give high-profile visiting scholars at UC San Diego a chance to address the region's local business community. The third and final Global Forum of 2017 will take place on May 9. Alan Beebe, President of the American Chamber of Commerce in China, will present on the opportunities and challenges American businesses face in an increasingly competitive and complex Chinese market. Join us.
 
 
April 5, 2017

According to the Brookings Institution, more than 98 percent of San Diego’s economic growth is going to come from focusing on companies already in the region. While poaching companies from other states may command headlines, focusing on helping companies already in San Diego is what will actually move the needle. And according to the Kauffman Foundation, one of the primary reasons a startup or company chooses to grow in a region is because of its talent pool.  

So how do we ensure that San Diego has the workforce to compete?

We start by telling a cohesive story. San Diego wears many hats – we have a high concentration of tech jobs. We’re one of the top life sciences ecosystems in the country. And we’re also a pretty awesome place to live. This is what the research tells us. 

But when you’re marketing a region, perception – not fact – is reality. 

At EDC, everything we do begins and ends with research. Understanding our story and strengths is no different. With the help of two local firms, we set out to test baseline perceptions of our region. What we found is that many senior level HR managers feel like they are missing out on key recruits because these potential employees don’t know what San Diego has to offer, both in terms of career progression and lifestyle. EDC set out to figure out what our message is, what makes us different from other regions and how we tell that story to the rest of the world.

Since January, EDC has shared this message platform with more than 90 regional companies and organizations – our Brand Alliance. Next, we will be building out a website that will look at unique neighborhoods, companies and activities and a digital toolkit (fast facts, logos, imagery, etc.). The goal is to arm companies with the resources they need to better tell San Diego’s story to the world.

Our Brand Alliance is comprised of diverse companies and opinions, but we’ve all agreed on one thing: San Diego's story is worth telling.

Join us at EDC’s Annual Dinner on April 20 for a sneak peek of the campaign. 

If you are a San Diego company that is interested in learning more about this initiative, please contact Sarah Lubeck at sl@sandiegobusiness.org.