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The Big Picture San Diego Blog


August 2018

August 20, 2018

Last week, Inc. magazine released its annual Inc. 5000 list of fastest-growing companies. More than 120 companies in the San Diego metro made the list, including EDC investor Innovative Commercial Environments. Other EDC partners on the list include Fuse Integration, Cloudbeds, Passion Planner, and more.

Notably, San Diego-based Scientist.com made the top 10, with 15,267.8 percent revenue growth. Scientist is a B2B marketplace that connects major pharmaceutical companies and the National Institutes of Health with research scientists.

The Inc. 5000 list ranks companies by revenue growth from 2015 through 2017 for companies that are U.S.-based, privately-held, for profit, and independent with 2017 revenues greater than $2 million. The 126 San Diego companies on the list totaled more than $2.4 billion in annual revenue in 2017.

This list shows San Diego's businesses are gaining steam. While we're home to one percent of the nation's privately-held businesses, San Diego companies make up 2.5 percent of this year's Inc. 5000 list.

Click here to see the full Inc. 5000 list. 

August 17, 2018

Each month the California Employment Development Department (EDD) releases industry data for the prior month. This edition of San Diego’s Economic Pulse covers July 2018 data, including unemployment, new business establishments, and job postings.

Highlights include:

  • Data from the month of July reflect seasonal employment losses. The unemployment rate fell slightly during the month to 3.5 percent after a sharp spike in June.
  • Nonfarm employment fell by 14,400, or 1.0 percent, in July. Compared to year ago, total nonfarm employment is up 21,200, or 1.5 percent.
  • San Diego’s unemployment rate remains well below both the state rate of 4.4 percent and the national rate of 4.1 percent, both of which also saw small declines in July.
  • Nearly every jurisdiction saw declines in its unemployment rate in July. Only Solana Beach experienced no change in its unemployment rate of 1.5 percent.

Read the full Economic Pulse here.


August 10, 2018

Well, that was fun.

Thank you to those who joined EDC last night for the SD: Life. Changing. Summer Bash. Since the beginning, this has been a community-driven campaign, and last night was no exception. 

This event would not have been possible without the vision of Dan Ryan and his team at Alexandria Real Estate Equities, Inc., as well as our sponsors DPR ConstructionBNBuilders, and many more. A huge thanks to Dawn Barry and Nate Wiger for telling us their San Diego stories, and to Brian Malarkey for dishing up some culinary magic. These are exactly the kind of companies and people that make this place Life. Changing., and these are exactly the types of stories that we need to continue to tell. 

But we cannot do this alone. We need your help. As part of SDlifechanging.org, we've created a Talent Recruitment Toolkit and a directory + map of the region's most innovative companies – You can request free access to those here. We’re asking you – as San Diegans that know and love this region – to share these resources on your company and personal channels.

Please be sure to follow along and engage with us at @SDlifechanging and stay tuned for additional updates.

Stay life-changing, San Diego.

- Team EDC

p.s. Event photos will soon be available for download here

If you are interested in engaging more in the campaign, please drop us a line at communcations@sandiegobusiness.org.

August 6, 2018

Originally published on sdfoundation.org.

The second most populous county in California, San Diego County is a center of entrepreneurship and innovation with one of the most highly educated workforces in the world.
 
However, changing skill requirements, a nationwide battle for talent, and a soaring cost of living are threatening our regional competitiveness.
 
According to the San Diego Regional Economic Development Corporation (EDC), San Diego’s Hispanic population is our fastest growing group and will become our region’s largest by 2030. However, Hispanics and other underserved populations are dramatically underrepresented in our region’s innovation occupations and possess lower rates of educational attainment.
 
For the region to remain competitive, proactive measures to promote economic inclusion must be taken.
 
THE CASE FOR ECONOMIC INCLUSION
The San Diego Foundation Science & Technology Program nonprofit partners are working to close demographic gaps in educational attainment and strengthen our regional resilience by building an inclusive economy.
 
Since 1999, the Science & Technology Program has granted more than $8 million to support scientists and engineers in San Diego, and most recently granted $632,934 to 10 programs aiming to  increase opportunities for those who work and learn in our region.
 
Grantees such as California State University San Marcos and Access Inc. support San Diego’s innovation economy by creating and expanding a pipeline of young adults underrepresented in science, technology, engineering and math (STEM) fields to college and career opportunities for inclusive growth.
 
Inclusive growth is crucial to sustain a successful, regional economy, especially for our innovation sector, which accounts for more than 25 percent of San Diego’s economic activity.
 
PREPARING OUR REGION’S WORKFORCE OF THE FUTURE
The San Diego Foundation Director of Community Impact Katie Rast recently discussed how we can grow an inclusive, regional economy with key stakeholders: President & CEO of San Diego Regional EDC Mark Cafferty, Vice President of Youth Programs at Access Inc. Roshawn Brady, and Associate Professor of Biological Sciences at Cal State San Marcos Dr. Julie Jameson.
 
Watch the recording below of the Facebook Live conversation to learn why preparing our region’s workforce of the future means ensuring our underserved communities are competitive and how visionary organizations are making an impact in the lives of young, underrepresented adults.