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Economic Development 101

October 16, 2015

This is part of an ongoing series on the recipients of the MetroConnect Prize, presented by JPMorgan Chase, a grant awarded to 15 companies looking to expand into new foreign markets.


Earlier this week, EDC released the Economic Impact of San Diego’s Research Institutions. The study found that the region’s non-profit research institutions impact roughly 37,000 jobs and have a combined economic impact of $4.6 billion. This equates to hosting 34 Comic-Cons or 33 U.S. Open Golf Championships every year.

 “When it comes to the strength of the region’s life sciences cluster, San Diego has long been a top competitor with other cities across the globe,” said Mark Cafferty, president and CEO of San Diego Regional EDC. “However, no other region has the strength and depth of San Diego's research institutions. As our recent study shows, San Diego-based research is not only leading the way in terms of scientific discovery, but it is also driving company growth and creating jobs.”

Although the industry affects jobs and provides a significant economic impact, it does not tell the whole story. The tech transfer and commercialization of the research produced at these institutions is significant to region’s strong life sciences cluster, ranking 4th as a global life sciences hub by Jones Lang LaSalle.

One prime example of this commercialization of technology is MetroConnect winner AirStrip’s wireless heart rate monitor system for babies and their mothers – Sense4Baby. The Sense4Baby platform was originally researched at the West Health Institute, who then licensed the technology to Sense4Baby, Inc. Then, in 2014, AirStrip acquired the assets of Sense4Baby and has since been featured in the Apple product launch to showcase how wireless devices like the Apple Watch can utilize AirStrip-developed platforms to enable doctors to remotely monitor patients.

“San Diego provides a perfect location to easily connect globally, and is known for many biotech startup companies,” said Alan Portela, CEO at AirStrip. “The region provides access to a number of world-class research institutes.”

The success of small businesses is critical to the region’s future, and increasing their global reach is crucial to that success. Through the MetroConnect Prize, companies such as AirStrip received $10,000 grants to assist with their next step in going global.

“The MetroConnect prize funds provided to date are now being used by the AirStrip Sense4Baby team to help identify supply chain cost savings, and will be applied to raise the international profile of Sense4Baby over the long term,” said Portela. “The resulting economic effect was immediate, lowering the cost of assembling, packaging and shipping the final product by 90%. In addition, the funds have been earmarked for language translation of the Sense4Baby page on the AirStrip website and of funding the translation of its Sense4Baby collateral into Dutch, French and Chinese for use by its international sales and distribution partners.

Since the acquisition of Sense4Baby, AirStrip has announced distribution agreements with partners in the U.S., Europe, Africa, Australia, and New Zealand. It is further targeting China and the Netherlands.


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October 16, 2015

Phil Blair

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“The September employment report was even better than expected, as the regional economy looks to be picking up speed toward the end of 2015. We saw a disappointing national jobs report released earlier this month, but it was just the opposite in San Diego, with outstanding job growth driven by our construction, manufacturing, and technology sectors.”
Phil Blair, Executive Officer
Manpower San Diego


This post is part of an ongoing monthly series dedicated to the California Employment Development Department (EDD) monthly employment release and is brought to you by Manpower. Click images to enlarge in a new tab/window.

Highlights

The California Employment Development Department (EDD) released statewide county employment data today for the September 2015 period. This month’s data shows that after another weak U.S. jobs report released earlier this month, San Diego showed more strong signs of growth led by important traded sectors and sectors with high-wages.

The unemployment rate fell to 4.6 percent in September, which is the lowest it has been since June 2007. The rate is 1.5 points lower than the previous year and 0.5 points lower than the previous month. The California and U.S. average rates also fell to 5.5 and 4.9 percent, respectively, but San Diego remained lower than the state and national averages.

San Diego’s rate fell both due to a large drop in persons who identified as unemployed, as well as a small seasonal drop in the labor forcesimilar to the trend from July to August, but more dramatic. More importantly though, the labor force is up by 22,300 people from September 2014 and unemployment is down 21,900 people over that same period—all amid solid and increasing employment growth.

Unemployment Rate

Just like last month, we should note that non-seasonally adjusted employment data for the summer-to-fall months is almost always filled with wild swings in the labor force, and in turn, the unemployment rate will experience big swings. This is largely due to thousands of high school and college students entering the labor force in May and June, then leaving again in August and September as they return to school. Similarly, education workers who do not work in the summer are not counted in the labor force during those months, and we see a 4,000-5,000 job spike in government employment once they return in September. Therefore, summer swings from month-to-month should be taken with a grain of salt, while the focus should instead be on how the labor force and unemployment rate are performing differently from the year prior. In this case, we again saw strong annual figures, indicating a healthy unemployment rate.

On that note, the region’s economy continued to steadily grow well-above three percent, despite another disappointing national report. San Diego’s total nonfarm employment grew by 3.5 percent year-over-year, adding 46,900 jobs from September 2014 to September 2015. San Diego’s growth rate was again much higher than the 2.1 percent national rate. The San Diego region is still expected to average 3.1 percent annual growth in 2015, compared to only 2.3 percent in 2014.

Total Nonfarm Employment

Year-over-year private sector growth continues to be outstanding, as private employment drove 91.5 percent of all employment growth. The total private sector grew by 3.8 percent, out-pacing the private U.S. growth rate of 2.4 percent. More than three-quarters of all year-over-year private job growth in San Diego came from four key sectors: construction, tourism, healthcare, and professional, scientific and technical services (PST).

PST services, which is strongly associated with the region's innovation economy, grew by 7.4 percent and was one of the highest growth industries in the region.

Growth in goods-producing industries picked back up in September, accounting for 17.5 percent of all private job growth. From September 2014 to September 2015, the manufacturing industry added 2,500 jobs and grew by 2.6 percent, which is higher than recent months. The ship and boat building industry continued to grow at an outstanding rate. Meanwhile, the construction industry added 5,000 jobs and grew by 7.7 percent. This is usually a period when goods-producers experience seasonal August to September declines, but in this month's report, we actually saw seasonal growth in goods-producing industriesa good sign for the economy.

YoY

Other key drivers for growth included the region’s healthcare sector, which added 7,800 jobs and accounted for approximately 18.2 percent of the region’s private job growth. After signs of slowing last month, tourism industry growth picked back up, adding 10,100 jobs and accounting for 23.5 percent of the region’s growth. Tourism growth was driven largely by bars and restaurants, which added 8,200 jobs since last September.

Given another sluggish national jobs report, the September employment report again defied national trends and showed very strong signs of a healthy economy. Employment growth picked up and the unemployment rate is the lowest it has been in more than seven years. Moreover, 21,900 fewer San Diegans are unemployed than they were in September of 2014 and 22,300 more have entered the labor force. Important goods-producing sectors like manufacturing and construction are growing at high and steady rates, which is a great sign for the region's economy. As we enter the final quarter of 2015, the region appears to be in great shape to close the year.

Contributions

Note: Our Economic Indicators Dashboard will show how our unemployment rate compares to other US metros and the US total rate when that information is released in the coming weeks.

 

October 14, 2015

 

Working to help create more opportunities for all San Diego residents and establish San Diego as an international city of innovation, Mayor Kevin L. Faulconer and the San Diego EDC opened doors at iboss Cybersecurity, one of the 500 fastest growing technology, media, telecommunications companies in North America.

Mayor Faulconer said, “Over the past several months, we have been cementing our reputation as a world-class leader in innovation. As mayor, I know that if San Diego is going to be a beacon of global innovation and opportunities, we need to support innovative companies like iboss to succeed. I want to make it easier for more world-class cyber security firms like iboss to call San Diego home.”

Paul Martini, CEO and Founder of iboss said, “We’re extremely excited to open our new global headquarters in San Diego which demonstrates how far we’ve come since we first launched here more than 10 years ago,” “San Diego is quickly becoming a hub for cybersecurity companies and that means the infrastructure and talent is in place to enable us to continue to grow here.”

Mark Cafferty, President and CEO of San Diego Regional EDC said, “While iboss has undoubtedly played a critical role in the world  of cybersecurity, it’s also been a great story for San Diego’s  innovation economy and global presence. iboss is showing that San Diego is a place where investors and companies can profoundly succeed in cybersecurity, technology and innovation.”

As a way of growing the region’s innovation economy, the City of San Diego’s development services division and economic development department worked in lock-step with iboss throughout its expansion, shepherding the company through the permitting process. The San Diego Regional EDC acted as liaison between the City of San Diego, the State of California and other entities to help the company through the process.  

Recently ranked by Deloitte Technology as one of the fastest-growing technology companies in North America, iboss Cybersecurity is heralded as the only company that can detect and contain large data breaches before loss occurs. iboss is also internationally recognized for its patented technology that automatically detects malicious data transfers before hackers can steal large amounts of sensitive information.

According to a 2015 economic impact study conducted by  EDC, iboss has a $59 million economic impact on the regional economy. With its new expansion, the company will directly employ approximately 270 workers. The company’s hires spur additional economic activity throughout the San Diego. In other words, for every ten jobs iboss creates in San Diego, an additional 13 new jobs are created in the region. Over the past three years, iboss has grown by more than 1800 percent and was named one of the fastest growing technology companies by Deloitte in 2014. The firm’s 4,000+ enterprise clients include Xerox, Sears and the U.S. Department of Interior.

iboss hosted a ribbon cutting ceremony for its new global headquarters in Sorrento Mesa. The 43,000 square-foot will house a new iboss threat research center, which identifies new malware and viruses that threaten computer networks. The iboss office builds on the company’s commitment to the San Diego community and highlights the growing cybersecurity industry in the region.  iboss is also partnering with the nearby University of California-San Diego Supercomputer Center to develop an internship program that will provide the company with a rich talent pool of qualified graduates.

 

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October 14, 2015

 

Working to help create more opportunities for all San Diego residents and establish San Diego as an international city of innovation, Mayor Kevin L. Faulconer and the San Diego EDC opened doors at iboss Cybersecurity, one of the 500 fastest growing technology, media, telecommunications companies in North America.

Mayor Faulconer said, “Over the past several months, we have been cementing our reputation as a world-class leader in innovation. As mayor, I know that if San Diego is going to be a beacon of global innovation and opportunities, we need to support innovative companies like iboss to succeed. I want to make it easier for more world-class cyber security firms like iboss to call San Diego home.”

Paul Martini, CEO and Founder of iboss said, “We’re extremely excited to open our new global headquarters in San Diego which demonstrates how far we’ve come since we first launched here more than 10 years ago,” “San Diego is quickly becoming a hub for cybersecurity companies and that means the infrastructure and talent is in place to enable us to continue to grow here.”

Mark Cafferty, President and CEO of San Diego Regional EDC said, “While iboss has undoubtedly played a critical role in the world  of cybersecurity, it’s also been a great story for San Diego’s  innovation economy and global presence. iboss is showing that San Diego is a place where investors and companies can profoundly succeed in cybersecurity, technology and innovation.”

As a way of growing the region’s innovation economy, the City of San Diego’s development services division and economic development department worked in lock-step with iboss throughout its expansion, shepherding the company through the permitting process. The San Diego Regional EDC acted as liaison between the City of San Diego, the State of California and other entities to help the company through the process.  

Recently ranked by Deloitte Technology as one of the fastest-growing technology companies in North America, iboss Cybersecurity is heralded as the only company that can detect and contain large data breaches before loss occurs. iboss is also internationally recognized for its patented technology that automatically detects malicious data transfers before hackers can steal large amounts of sensitive information.

According to a 2015 economic impact study conducted by  EDC, iboss has a $59 million economic impact on the regional economy. With its new expansion, the company will directly employ approximately 270 workers. The company’s hires spur additional economic activity throughout the San Diego. In other words, for every ten jobs iboss creates in San Diego, an additional 13 new jobs are created in the region. Over the past three years, iboss has grown by more than 1800 percent and was named one of the fastest growing technology companies by Deloitte in 2014. The firm’s 4,000+ enterprise clients include Xerox, Sears and the U.S. Department of Interior.

iboss hosted a ribbon cutting ceremony for its new global headquarters in Sorrento Mesa. The 43,000 square-foot will house a new iboss threat research center, which identifies new malware and viruses that threaten computer networks. The iboss office builds on the company’s commitment to the San Diego community and highlights the growing cybersecurity industry in the region.  iboss is also partnering with the nearby University of California-San Diego Supercomputer Center to develop an internship program that will provide the company with a rich talent pool of qualified graduates.

 

October 13, 2015
Mayor Kevin L. Faulconer, Assembly Speaker Toni Atkins, San Diego Regional EDC and numerous business and civic leaders revealed the results of “The Economic Impact of San Diego’s Research Institutions” – the first study to comprehensively measure San Diego’s scientific R&D cluster. In total, San Diego’s scientific non-profit, research institutions have a $4.6 billion total economic impact on the regional economy – the equivalent of hosting 34 Comic-Cons annually.

As part of his efforts to better understand the breakthrough scientific discoveries in San Diego, Mayor Faulconer convened the research institutions in December 2014 for an informal meeting. While the Mayor was astonished by the global impact of San Diego’s scientific discovery, there was not concrete data that explained what this unique, scientific hub meant for the region’s economy.

“From Ebola to Alzheimer’s to HIV, San Diego’s research institutions are developing breakthrough therapies that are advancing healthcare and quality of life on a global scale,” said city of San Diego Mayor Kevin Faulconer. “With this study, for the first time, we not only understand the impact these research institutions have on global well-being, but the way they drive job creation and impact our economy. I look forward to continuing the work with these scientists, entrepreneurs and research institutions to ensure San Diego remains a global pioneer in scientific discovery.”

Understanding the impact: the nucleus of San Diego's innovation economy 

EDC – with the guidance of numerous research institutions including West Health Institute, Salk Institute Biological Studies, The Scripps Research Institute and many others – completed the most comprehensive analysis on San Diego’s research institutions to date. Highlights of the report concluded:

  • Research institutions impact roughly 37,000 jobs and have a combined $4.6 billion total impact on the region’s GRP every year.
  • The $4.6 billion economic impact of research institutions equates to that of 4 San Diego Convention Centers, 34 San Diego Comic-Cons, 6 aircraft carriers, or 33 U.S. Open Golf Championships every year.
  • Independent research institutes in San Diego receive more NIH research funding and generate more patents than counterparts in any metro area of the U.S.
  • All scientific R&D, including for-profit enterprises, generates $14.4 billion annually in economic impact—roughly equal to the region’s visitor industry. San Diego is the most concentrated R&D market in the U.S.
  • An estimated $1.8 billion in federal and philanthropic research funding flows to the region’s research institutions every year.

In order to assess the scale and impact of the cluster, the study looked at independent, non-profit research institutes (e.g. Scripps, J. Craig Venter Institute, West Health) and university research centers (e.g. UC San Diego, San Diego State University), which are collectively referred to as “research institutions” in the study. Not only do these research institutions drive philanthropic efforts in the region, but they also create job opportunities across a wide-spectrum of skill-levels.

“What is perhaps most impressive is the ripple effect our research institutions have on job opportunities throughout the region,” said Mary Walshok, vice chancellor of public programs and dean of extension at UC San Diego, who also served as a study advisor. “This isn’t just about high-paid scientists. Our research economy also fuels the demand for good construction, office, technical and management jobs.”

“There is often a misconception that academic institutions like the Salk Institute are too removed from everyday business to be a relevant economic driver. But that’s the furthest thing from the truth. The discoveries, technologies, medicines and highly trained people emerging from San Diego’s research sector are vital to the economy of the region—a fact that the EDC report makes very clear,” stated Dr. William Brody of the Salk Institute for Biological Studies.

A call to action

In order to capitalize on the economic impact and grow San Diego’s R&D cluster, the study calls for the following actions and strategies: build supporting coalitions with industry leaders and institutions; drive the economic development opportunities to retain, expand and attract the types of companies and investment our research community needs to compete globally, and address workforce needs by further developing technical training programs and interactive laboratories. A coalition of research institutions and civic organizations will be working with key elected officials to advocate for funding and ensure San Diego’s research narrative is carried to Sacramento, Washington, D.C. and across the globe.

“I am proud to serve as Speaker of the most visionary and innovative region in the country,” said Assembly Speaker Toni Atkins. “This study serves as testament to the drive and success of San Diego’s 100,000 individuals working in the R&D cluster – all of which improve not only the industry and economy, but also the quality of care received around the world. It is case in point how California, and more specifically San Diego, is changing the world."

Read the executive summary and full report here. 

The economic impact study was supported by a grant from the Gary & Mary West Foundation, with additional sponsorship provided by UC San Diego Extension, The Scripps Research Institute, Salk Institute for Biological Studies and Alexandria Real Estate.

 

 

October 2, 2015

This is part of an ongoing series on the recipients of the MetroConnect Prize, presented by JPMorgan Chase, a grant awarded to 15 companies looking to expand into new foreign markets.


Surgeons carving and printing replica human ears. Bakers building edible delicacies from their computer. Doctors deploying printed materials to replace a man’s skull.

This isn’t science fiction anymore. These are actual examples of the capabilities of 3D printing.

According to Wohlers Report 2015, the 3D printing industry grew at a compound annual rate of 35.2 percent to $4.1 billion in 2014. Additionally, the industry is expected to grow to $12.8 billion by 2018, and exceed $21 billion in worldwide revenue by 2020.

However, due to the high priced systems, not many students or entrepreneurs have access to these systems.

“Back in 2011, we looked around and instead of forking up $2000 for a personal 3d printing machine, we decided to build one ourselves,” said Braydon Moreno, CEO at ROBO 3D, in an interview.

The idea that he and his team can create a more affordable 3D printer spawned the creation of ROBO 3D. With support from the region’s strong robotics and tech industries, ROBO 3D has experienced major growth over the last few years.

“San Diego is the foundation by which we began building this company,” said Moreno. “We engaged with numerous San Diego based companies early on such as CONNECT and the Qualcomm Robotics Accelerator program to help us gain traction and further boost the credibility of our company and brand.”

Having a globally recognized brand has opened many doors for ROBO 3D – targeting Germany, the United Kingdom, and France for its international expansion. In using the funds from the MetroConnect Prize, ROBO 3D is establishing a beachhead operation in Europe, opening a new division to gain a larger share of the market.  

The success of small businesses is critical to the region’s future, and increasing their global reach is crucial to that success. Through the MetroConnect Prize, companies such as ROBO 3D received $10,000 grants to assist with their next step in going global.


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September 25, 2015

 

As one of the foundations of San Diego’s economy, the military plays an integral role in San Diego’s economic vitality. Between the release of San Diego Military Advisory Council’s (SDMAC) 7th annual Military Economic Impact Report, the Governors Military Council (GMC) quarterly board meeting and the upcoming  airshow at MCAS Miramar, the military has been on the radar for many San Diegans this month.  

At the release of the SDMAC economic impact study this past Wednesday, updated data confirmed just how important the military is to San Diego’s economy:

·         The military sector is responsible for about 328,000 -  22 percent - of the region’s total jobs in 2015 after accounting for all of the ripple effects of defense spending – an increase from last year’s 317,000 jobs. 

·         An estimated total of $24.8 billion in direct spending related to defense was sent to San Diego County during fiscal year 2015, an amount equal to about $7,700 for each of the county’s residents.

·         In fiscal year 2015, the 49 U.S. Navy ships home-ported in San Diego will see direct spending of about $2.6 billion, which will equate to a total economic impact of $5.7 billion in GRP.

·         The two aircraft carriers based here will bring a combined $1.5 billion to the economy based on updated inputs, multipliers, and models.  San Diego’s home-ported ship count is projected to climb to a total of 84 by calendar year 2023.

Although these are impressive numbers in themselves, they do not capture the depth of the defense sector. Case in point: in the early ‘70s, two engineers – Irwin Jacobs and Andrew Viterbi -- received a SPAWAR contract to  advance communications technologies (CMDA). Years later, Jacobs would go on to form Qualcomm, San Diego’s largest private-sector employer, and the home of the modern day cell phone.  That is just one example - San Diego’s military drives billions of dollars of research to the region, attracts talent from around the country, and has proven to be instrumental in inspiring major technological innovations impacting both the defense and commercial markets.

 In addition to the numerous elected officials on hand for the study release, the Governor’s Military Council (GMC) simultaneously held its quarterly board meeting in San Diego. Started as an advisory council to protect California’s assets, the GMC became a standing committee with the passage of AB 442, which was signed into law on September 21. While in town, the GMC toured several military staples, including NASSCO, SPAWAR and Naval Base Point Loma. Building on the announcement and the momentum of the GMC’s statewide strategy release, EDC is working in close partnership with SDMAC to ensure San Diego’s key military interests are represented in the GMC's actions. We are pleased to confirm that RADM (ret.) Ken Slaght, a former commander of SPAWAR and the co-chair of the Cyber Center of Excellence (CCOE), will join the GMC as its newest member.    
               
 Our military drives innovation, attracts a diverse set of talent and remains the single most critical industry in terms of impact on our GRP.  The looming threat of sequestration coupled with leadership uncertainties in D.C. confirm that we need to stay diligent and focused as a region to provide the concerted effort required to adequately support our key military installations and our defense industrial base. Our economy depends on it.

 

September 24, 2015

This is part of an ongoing series on the recipients of the MetroConnect Prize, presented by JPMorgan Chase, a grant awarded to 15 companies looking to expand into new foreign markets.


Living in San Diego, businesses and its employees are fortunate to have the highest quality of life – with more than 3,055 hours of year round sunshine, access to nationally recognized beaches, and touted as one of the healthiest cities in the nation. San Diegans are able to go surfing in morning, go to work during the day, and make a tee time just before dinner.

Due in part because of the region’s high quality of life, San Diego’s Sports and Active Lifestyle (SAL) industry cluster is one of the most concentrated among major metropolitan regions in the U.S. In the economic impact study released by EDC in 2013, SAL in San Diego represented more than 1,200 businesses and approximately 23,000 employees.

No wonder that VAVi Sport & Social is quickly becoming one of the most prominent sport league and social event organizers in the nation. VAVi’s beginnings were in creating and carrying out sports leagues around the county – from kickball to dodgeball to soccer. Soon VAVi began to organize large scale events – like the Del Mar Mud Run, taking place this weekend for its 6th consecutive year, and the Ridiculous Obstacle Course (ROC) race.

In February of this year, VAVi announced it would be partnering with Endemol, the producers of “Wipeout”, to organize and promote the WIPEOUT Run. Now the new ROC race, WIPEOUT Run has more than quadrupled the size of VAVi in the last two years.

“In terms of size, WIPEOUT Run is 80 percent of our business,” said Steve Stoloff, CEO of VAVi, in an interview with ABC 10.

And the next step for VAVi?

“VAVi is bringing its hit 5k obstacle series, ROC Race, to Australia,” said Stoloff. “The funds from MetroConnect will support our marketing and business development efforts in Melbourne and Sydney.”

Demand in Australia for the ROC race has been off the charts. According to Stoloff, “…the race sold out in less than 72 hours and we are getting ready to launch an additional day.”

The success of region’s small- and medium-sized businesses is critical to the region’s future, and increasing their global reach is crucial to that success. Through the MetroConnect Prize, companies such as VAVi Sport & Social received $10,000 grants to assist with their next step in going global.

 


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September 18, 2015


This is part of an ongoing series on the recipients of the MetroConnect Prize, presented by JPMorgan Chase, a grant awarded to 15 companies looking to expand into new foreign markets.


The wireless broadband industry contributed more than $146 billion to the U.S. GDP in 2011. It was responsible for 2.8 percent of all U.S. employment – 3.8 million jobs, directly and indirectly. When ranked among the largest industries in the world, wireless broadband would rank 46th, as measured by GDP – larger than publishing, agriculture, and motor vehicle manufacturing.

San Diego’s longstanding strength in the wireless and information technologies makes it the ideal place for the convergence of the healthcare and wireless industries. Aventyn, a digital health company specializing in cloud connected clinical information, is a company that represents this convergence. Its technology provides many solutions through medical imaging, analytics and genome reporting for health providers, pharma-life sciences, pharmacogenetics, and population health management.

“San Diego has been at the forefront of innovations in wireless technology, genomics, and biotech for decades,” said Michael LoVullo, vice president of integrated health solutions at Aventyn. “With the convergence of these significant industries, expertise and knowledge, in collaboration with our health systems, we are able to accelerate the innovation cycle in personalized medicine.”

It is because of small- and medium-sized companies that San Diego’s life sciences industry ranks fourth in the U.S. The success of these firms is critical to the region’s future, and increasing their global reach is crucial to that success. Through the MetroConnect Prize, companies such as Aventyn received $10,000 grants to assist with their next step in going global.

Aventyn plans to target the European market for its international expansion – specifically Germany, Sweden, and the United Kingdom. These are important markets for the wireless health industry since, according to Recon Analytics, the European Union (EU) “…wireless penetration continues to outpace the U.S., with the EU reaching 126.2 percent at the end of 2009 and the U.S. reaching 102.4 percent penetration in June 2011.”

“Currently, our remote monitoring and integrated disease management platform serves several thousands of patients in the U.S., Sweden, and India,” said LoVullo. “We continue to expand in Europe and the Middle East with strategic regional health system partners and globally recognized distributors.”

September 11, 2015

This is part of an ongoing series on the recipients of the MetroConnect Prize, presented by JPMorgan Chase, a grant awarded to 15 companies looking to expand into new foreign markets. Subscribe here to receive new posts every Wednesday on this topic.


“San Diego is every sports and active lifestyle company’s ideal location,” said Lisa Freedman, former executive director of SD Sport Innovators. “While there are other important and larger verticals in San Diego, the sports and active lifestyle cluster is a very strong community where authenticity goes hand in hand with innovation. As a result, people around the globe not only purchase and use, but they also rely on products developed and manufactured right here in Southern California.”

San Diego’s sports and active lifestyle (SAL) manufacturing is the most concentrated industry among major metropolitan regions in the U.S. In an economic impact study released by EDC in 2013, the sports and active lifestyle industry in San Diego represented more than 1,200 business and approximately 23,000 employees. These companies had a direct economic impact of $1.35 billion and accounted for 1.3 percent of San Diego’s 2011 economyequivalent to hosting four Super Bowls every year.

Bounce Composites, an Oceanside-based company, is one of these 1,200 businesses that capitalize on San Diego’s strong SAL industry.

“First of all, we really like living here. It's pretty hard to beat it,” said James Hedgecock, founder & general manager at Bounce Composites. “On a more business-oriented note, San Diego is an amazing area for composites manufacturing as well as the sporting goods market, two industries in which Bounce is deeply invested. In addition, the proximity of Baja California's manufacturing community for the production of some products and applications cannot be ignored.”

Bounce Composites designs, engineers, and manufactures high-quality and durable composite goods for multiple industries including wind energy, automotive, aerospace, and sporting goods. Its stand up paddleboards (SUPs), produced under the brand Bounce SUP, is its largest revenue generator. Bounce SUP’s patented design allows for serious performance and usage while maintaining a minimal environmental footprint. 

Driven by startup activity, the success of San Diego’s small- and medium-sized SAL companies is critical to the region’s future, and increasing their global reach is crucial to that success. Through the MetroConnect Prize, made possible by JPMorgan Chase, companies such as Bounce Composites received $10,000 grants to assist with their next step in going global.

“The recent grant money we were awarded assisted in the implementation of outreach programs within social media websites for domestic and foreign export growth,” said Hedgecock. "Encouragingly, we are experiencing a high return on the international targets within our current marketing plan.”


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