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The Big Picture San Diego Blog


August 2018

August 27, 2018

Have you ever driven down the I-5 South near downtown and noticed the three large industrial buildings to your right? Do you know what happens there? That’s the U.S. Navy’s Space & Naval Warfare Systems Command (SPAWAR).

Last week, a small group of EDC board members got a behind-the-scenes tour of SPAWAR and its research lab in Point Loma SSC-Pac to answer that very question. On the tour, attendees saw firsthand some of the technology being developed and acquired by SPAWAR – technology that ranges from AI-guided cyber tools, nanosatellites, cryogenic communications, AR and VR technologies for sailors, and autonomous air, land, and water vehicles. SPAWAR directly employs nearly half of all the cybersecurity jobs (3,400) in San Diego, and its presence in San Diego is a huge contributing factor for many cyber companies to remain located in the region. It is daily responsible for the creation of advanced technologies for our country.

Additionally, attendees were provided an opportunity to learn about the U.S. Navy’s plans to explore a massive redevelopment of the SPAWAR facility that could provide the command with modern infrastructure, while acting as a catalyst for broader redevelopment in the midway area. It is rare to have a command like SPAWAR outside of the Washington D.C. beltway area and even more uncommon still for a community to have an opportunity to help such an important institution design and build a new facility.

For more information, you may access the Request for Interest via Navy Electronic Commerce Online (NECO) or Federal Business Opportunities (FBO) websites.

August 24, 2018

Every quarter San Diego Regional EDC analyzes key economic indicators that are important to understanding the regional economy and the region’s standing relative to the 25 most populous metropolitan areas in the U.S. This issue covers data from Q2 2018.  

Following seasonal declines in employment during Q1, San Diego, and the overwhelming majority of the most populous metros, experienced an increase in employment during Q2 2018. Welcoming recent graduates and ramping up for the summer season, the region added 16,500 jobs - a 1.1 percent increase in employment during the quarter. Compared to a year ago, nonfarm employment was up 22,500 jobs, or 1.5 percent.

San Diego’s unemployment rate remained below that state and national rates of 4.5 and 4.2 percent, respectively.

Key findings from the snapshot:

  • When compared to its regional neighbors, San Diego’s unemployment rate continued to fare better than both Riverside (4.7 percent) and Los Angeles (4.5 percent).
  • With the summer tourist season approaching, the leisure and hospitality sector recorded the largest quarterly gain, adding 6,300 jobs during Q2.
  • Year-over-year, the region’s median home price continued to climb, growing by 6.6 percent.
  • Compared to the same period a year ago, VC investment in the region has more than doubled. 

The Quarterly Economic Snapshot analyzes key economic indicators that are important to understanding the regional economy and the region’s standing relative to the 25 most populous metropolitan areas in the U.S. This releases includes data from April to June (Q2) 2018.

 

August 23, 2018

Last week, EDC welcomed a group of next-gen life sciences leaders to San Diego for an exclusive tour of the region’s life sciences industry. Over two days, 26 eager PhD candidates representing 15 schools across 11 states paid visits to seven local employers including ResMed, Takeda, BD, Janssen/JLABS, Thermo Fisher Scientific, Dexcom, and Rady Children’s Institute for Genomic Medicine. Upon completion of their PhD program, these students will enter high-demand occupations within the life sciences industry – namely, positions in bioinformatics, computational biology, genomics, and more. Our hope is that they chose to do so in our region.

EDC launched the San Diego Life Sciences Trek in 2017 as a strategy for attracting talent to support the growth of the region’s life sciences industry, mirroring the more typical MBA Trek model. Across the globe, leaders in genomics and connected health are gathering incomprehensible amounts of data with the power to unlock the human genome, make personalized care a reality, and enhance the way we live on a massive scale. Individuals skilled in bioinformatics, data science, and computational biology are instrumental in deciphering such data sets – a task with stunning implications across pharma, biotech, healthcare, genomics, and much more – and are thus highly sought after by companies and regions alike. The battle for talent is heating up.

Many trek participants attend this two-day program because they are curious about a career in industry, but with backgrounds in academia, have had limited opportunities to explore what one might look like. The Life Sciences Trek provides students a chance to get out from behind the lab bench to tour companies, talk with real professionals, and learn how their skills can be applied in life-changing companies in San Diego.

Through company tours, panel discussions, presentations, and a networking reception, students gained access to influential researchers and executives across leading life sciences employers. From drug discovery to connected devices, genetic sequencing to direct patient care, the breadth of opportunities for bioinformaticians became apparent within San Diego’s diverse life sciences ecosystem. In fact, after attending the trek, 90 percent of participants indicated that they plan to pursue a career in San Diego upon completion of their PhD program.

Below are their thoughts. See more at #SDlifesciencestrek.

“It was a fantastic experience for someone who's always been immersed in academia, but is interested in the industry.”

– PhD candidate in Bioinformatics, University of Michigan

“This was an incredible opportunity to network with the scientists that could be involved in hiring you in the future. It was an indispensable experience to see first hand the types of jobs that recent PhD graduates could be qualified for.”

– PhD candidate in Neuroscience, University of Southern California

“Seeing the positive testimonials from all the people at the companies regardless of their position about work-life culture will make me prioritize San Diego as my primary target for future job applications.”

 – PhD candidate in Animal Biology with a focus on Biotechnology, UC Davis

“The trek was really eye-opening and definitely changed my perspective about potentially pursuing a career there!”

– PhD candidate in Cell and Molecular Biology, University of Southern California

“The SD trek is a great opportunity to familiarize yourself with biotech opportunities in SD and to learn about a great town with a lot of potential for aspiring scientists.”

– PhD candidate in Microbiology and Immunology, Dartmouth College

 

The trek group represented 15 schools: Carnegie Melon, Cornell, Dartmouth, Duke, Georgia Tech, Stanford, Ohio State, UC Davis, UC San Diego, UC Santa Cruz, University of Southern California, University of Idaho, University of Illinois, University of Michigan, University of Texas. 


Trek highlights: Surprise guest Dr. Stephen Kingsmore, CEO of Rady Children’s Institute for Genomic Medicine and Guinness World Record holder for fastest genetic diagnosis through DNA sequencing.

  

You can't talk about San Diego life sciences without talking about startups. Trek participants tour JLABS followed by a panel discussion moderated by Ashley Van Zeeland, co-founder of Cypher Genomics and former CTO of Human Longevity.

 

 

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 (which recently inked a partnership with Airbnb), 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.