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Talent and Universities

April 15, 2014

Jacobs School Research EXPO UCSD

Capital can be a pain point for many entrepreneurs. Despite the odds, many San Diego companies have found funding. According to the PricewaterhouseCoopers MoneyTree report, San Diego companies were involved in 23 venture capital deals and received more than $145 million in funding in Q4 of 2013. However, for a variety of reasons, overall venture capital invested in San Diego still took a dip between 2012 and 2013.

A group of alumni of the University of California, San Diego may help change that. They have created a venture capital fund—the Triton Technology Fund—that is specifically focused on commercializing innovations by UC San Diego faculty, students and alumni. (Read the Xconomy story here.)

The Triton Technology Fund will invest in companies affiliated with UC San Diego faculty, students and alumni with innovations in the software, communications, electronics, materials, medical devices and instruments sectors. The goal is to leverage breakthroughs in these areas to provide solutions for business-to-business enterprises.

“Commercializing university research requires external expertise and investment. The Triton Technology Fund is going to accelerate the success of our innovators by injecting crucial resources into our entrepreneurism and commercialization initiatives here at the Jacobs School of Engineering and across all of UC San Diego and its alumni networks,” said Albert P. Pisano, Dean of the UC San Diego Jacobs School of Engineering in a statement announcing the fund.

The university is a breeding ground for ideas and innovation. To date, UC San Diego faculty and alumni have been credited with forming more than 500 startup companies. Some of these innovations can be seen in action this Thursday when the Jacobs School of Engineering hosts its annual Research Expo event. UC San Diego engineering graduate students will present their latest research at the 200-strong poster session at Research Expo on Thursday April 17 from 2:00 to 4:30 pm on the UC San Diego campus. (You can scan poster titles or search by industry application area online.)

The Jacobs School of Engineering’s Research Expo, now in its 33rd year, also includes ten-minute faculty tech talks covering regenerative medicine, big data, video processing for medical applications, robotics education, wearable sensors, and aerospace safety. Registration is available onsite.

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April 8, 2014
 
San Diego is not Silicon Valley...and that's a good thing. Yes, the weather here is nicer, but that's not the only reason people come here. They come for access to resources, lower cost of living compared to other startup hubs, and of course, talent. Like many other tech founders, Stephan Goss, CEO of Zeeto Media and Jeff Brice, CEO of TrustEgg believe this so much, that they decided to locate their companies here. 
 
There is always room for improvement, but as San Diego's startup community continues to grow, so does the momentum we see to better the region. Take a look at the piece they wrote below for The Daily Transcript.
 
 

Why we chose San Diego over Silicon Valley (appeared in The Daily Transcript on April 7) by StephanGoss and Jeff Brice
It is conventional wisdom that if you want to launch a startup, Silicon Valley is the place to be. The funding, talent and resources are available in spades there. So people have flocked there hoping to become the next Facebook or Google, and some have succeeded.
 
We made a different choice. For us, San Diego was a smarter choice to launch our two businesses, Zeeto Media, an online media company, and TrustEgg, a simple venue to start online trust accounts for kids. The weather was certainly a seductive draw. It’s hard to ignore the climate and laid-back lifestyle of this Southern California city, but that is not why we are here. 
 
Read more in the Daily Transcript....

#GoSanDiego

 

March 13, 2014

It’s EDC’s job to be a booster of all-things San Diego. Through our work, we get the opportunity to meet budding entrepreneurs and small businesses owners.  They differ in the types of enterprises they run and in the people they hire, but they all say one thing: San Diego is a great place to launch a startup or small business.  We know that San Diego has many ingredients for entrepreneurs to be successful -- from a top tier talent pool to diverse neighborhoods which help attract the right people -- but we haven’t had a definitive ranking that said it all. Now we do: Today, Forbes ranked San Diego “The Best Place to Launch a Startup in 2014.”

San Diego is the best place to launch a startup in 2014. We’ll give that a moment to sink in.

One of the criteria used to rank location is based on social media use of small businesses in the selected city. As the article writes, “It turns out that Internet-savvy businesses are likely to grow faster than those that don’t…. Web presence indicates adaptability and likelihood to innovate—creating a network effect for communities dedicated to growth and positive change.” There’s no doubt that San Diego has its share of social media-savvy entrepreneurs and small business owners.  Recognizing this, EDC has recently brought together a group of these “Digital Ambassadors” to help carry positive messages about the region to the rest of the world. We’re constantly amazed about the powerful things we learn about San Diego through social media every day.  Just yesterday, we learned that Google Analytics got its start in San Diego as Urchin.

Here’s a little more about what Forbes had to say about the region:

"Small enterprises ranked in the top five on nearly every category to lift San Diego into the top slot. There is heavy concentration in projected high growth industries, as well as a high likelihood of accepting credit cards and adopting social media. San Diego is home to the fifth-best rated business community in the country. “

Although we have often been known to criticize the methodology of “rankings,” we need to celebrate where we can. And today, we celebrate!  San Diego Is, in fact, the best place to launch a startup in 2014.

Now, let’s continue to use our award-winning social media skills to get the word out.


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January 31, 2014

global sd cover

Throughout the nation, and the world, the role of metropolitans is becoming more pronounced. Due in part to political gridlock in D.C., metropolitans have become living incubators for ideas and innovation. Although the rise of the metropolitan region can be seen by anyone who picks up the paper or flips on the T.V., it’s the Brookings Institute that has given this movement new momentum.

San Diego is one region to embrace this "metropolitan first" ethos. This week, EDC – along with numerous regional partners – released the “Global San Diego Export Plan” which focuses on growing our metropolitan economy and creating jobs through exports. The release of the export plan is part of San Diego’s continued participation in the Global Cities Initiative, a joint project of the Brookings Institute and JPMorgan Chase & Co.

In 2012, San Diego was selected by Washington-based Brookings Institute as one of the first eight U.S. cities to participate in a national initiative to pioneer new strategies that boost exports and global economic competitiveness. The Global Cities Exchange has now grown to include 20 U.S. metropolitan areas.

A focus on exports means a focus on all sectors of San Diego’s economy, from the established defense and communications sectors to emerging industries such as craft beer. Companies that export not only grow faster, but are 8.5 percent less likely to go out of business. Additionally, if you work at a company that exports, on average, you will earn a 10-20 percent higher wage than you would if you worked at a company that didn’t export.

San Diego’s Core Team Partners are streamlining four strategies to implement the export plan:

·         Leveraging the diversity of regional markets

·         Developing and increasing small- and-medium-sized enterprises’ capacity to export

·         Concentrating on San Diego’s unique infrastructure assets

·         Leveraging the trade potential of the CaliBaja Bi-National Mega Region

A newly-formed Global Competitiveness Council, comprised of key leadership from the Core Team Partners including elected officials and university leadership, will move forward on implementation of the strategies and provide insight into the region’s trade and investment plans.

In San Diego, we’re not just exporting San Diego products; we’re exporting San Diego culture as well. Core Team Partners have included a Global Outreach component to encourage San Diegans to adopt a more global mindset and use this initiative as a platform for communicating San Diego’s global fluency.

In the coming weeks, the Core Team will continue to push out information regarding San Diego’s plan to increase exports.

In the meantime, here’s what Brookings and some members of the Global Competitiveness Council are saying about this plan:

Brad McDearman, fellow and director of Metro Trade and Investment at Brookings said: “San Diego was selected to be part of the Global Cities Exchange due to its unique cross-border dynamic, Pacific Rim location, demonstrated regional collaboration, and commitment to being more intentional about positioning the region globally. San Diego is a region with tremendous potential in international markets.”

Councilmember Mark Kersey, City of San Diego, 5th District said: “Expanding trade opportunities for San Diego companies is critical to our binational economy. Although we currently have companies utilizing our regional opportunities for trade and commerce, there is a lot more potential. This initiative will provide businesses with concrete information to help them tap into the unique opportunities being a border region provides," said

Thella Bowens, president and CEO of San Diego County Regional Airport Authority said: “The Airport Authority is pleased to see the concrete steps laid out in this plan to improve our region’s export potential, based on the market assessment completed last spring. In terms of air passengers, air cargo and aviation infrastructure, San Diego International Airport plays a crucial role in our region’s export performance. We are committed to working with our partner agencies and the City of San Diego to enhance the export potential of the region”

Mark Cafferty, president and CEO or San Diego Regional EDC said: “We know companies that export not only pay their workforce higher wages, but also create more jobs. This plan is a solid foundation to not only boost employment, but to also start shaping the region’s distinct global identity. The good news is that we have room to grow.”

Brennon Crist, JPMorgan Chase market manager for Middle Market/Commercial Banking said: "Exports of goods and services represent a tremendous opportunity for San Diego businesses to grow and create jobs. The strategies outlined in this Export Plan will be instrumental to helping our region’s employers realize their export potential. The plan serves as a great example of the public-private sector collaboration that’s so critical to ensuring our region’s long-term economic success in a highly competitive global economy.”

Bob Nelson, chairman, Port of San Diego said: “Leaders throughout San Diego share a desire to improve our region’s competitiveness in global markets, which is driven in large part by our goods movement capacity at the Port of San Diego. With two marine cargo terminals, the Port of San Diego is a major player in our region’s export activity. The release of our Brookings Institution Metropolitan Export Plan signals that our San Diego region as a whole is serious about offering businesses a simpler, easier path to exporting – and that we’re willing to work together to get there.”

More statements can be found here.

TAGS
December 31, 2013
The story of the San Diego region is one of collaboration. This means when events take an unexpected turn, we can lean on one another to move the region forward. We have companies - that many would perceive as competitors - working together to secure San Diego’s cyber infrastructure. We have public/private collaborations working to increase the region’s global footprint. We have everyone from entrepreneurs to Fortune 500 companies looking to invest in the region. And we have a strong group of universities that are working together to produce one of the most talented workforces in the nation.
 
 “Good News” is all around us. For the second year in a row, we've compiled a list of some of the greatest moments of the year. As 2013 draws to an end, let’s reflect on the remarkable accomplishments across our entire mega-region, and raise a toast (preferably a San Diego craft beer) to another year of positive headlines.
 
With unwavering appreciation,
Team EDC
 

 

Convention Center expansion is green lighted
In October, a coalition of local union members, business leaders and elected officials showed up at the California Coastal Commission hearing to advocate for a the expansion of the San Diego Convention Center. When the Coastal Commission voted unanimously to move forward with the expansion, they were not only voting for a larger facility with more waterfront access, but also to bring an additional $698 million in economic impact and 6,685 jobs in the region. The expansion of the Convention Center means we can make way for many of the mega-conventions, such as Comic-con, that had their San Diego presence threatened by lack of capacity

 

Unmanned Center of Excellence adds 300 jobs to economy
San Diego has emerged as an Unmanned Systems hub. Recognizing the talent and opportunities present in the region, Defense innovator Northrop Grumman designated San Diego its Unmanned Systems Center of Excellence. The designation meant 300 more jobs at the company's Rancho Bernardo location.

 

 

San Diego Central Library completed 
A great city needs a great library. With the completion of the San Diego Central Library, San Diego residents now have a library they are proud of. The new East Village location boasts local art installations, an expanded career center, a charter school, and more workspace, in in a visually stunning iconic building.

 

 

 


We live in the most inventive region in the U.S. 
Although we've tried not to focus on rankings, this is one we simply can't ignore. In July, the Organization for Economic Co-Operation and Development released its ranking of the world's most inventive cities. Second on the list - right behind Eindoven, Netherlands - was San Diego. The city claims 8.9 patents for every 10,000 residents, thanks to companies such as Qualcomm. 

 

 

 

Cross Border terminal makes Mega-Region more accessible 
As the U.S. and Mexican governments launch a new initiative to build stronger business ties across the border, they are looking at San Diego's Cali Baja Bi-national Mega-Region as a model for finding ways that industry clusters in both countries can work together. Many examples show the strength of the mega-region, but it's the new cross border terminal that has grabbed headlines recently. Border infrastructure has been improving, and the new cross border terminal will allow travelers from San Diego and Tijuana to hop on flights out of the neighboring cities. 

 

 

San Diego Airport's Green Build takes off
Improvements at the airport have finally landed. The San Diego International Airport's Green Build expansion culminated in August ahead of schedule and under budget. The stunning new new terminal features 10 new gates, pet-friendly amenities, extensive public art displays and is infused with local dining favorites so travelers can get a taste of San Diego while they wait. 

 

 

 

Pivot to the Pacific sends resources to San Diego
The United States defense strategy has deemed that a Pivot to the Pacific, aligning defense resources with the Pacific Rim, is a crucial foreign policy strategy. Because of San Diego's location and existing military footprint, this meant the region was well-positioned, despite sequestration, to gain valuable resources. The USS Reagan and its 2,500 person crew returned to San Diego after a year in maintenance. The USS Vinson, and its 6,000 plus crew, also returned to its port in San Diego. According the SDMAC Military Economic Impact Study, the two aircraft carriers home ported here will each add about $500 million to the economy.

 

 

 

Kickstarter backed films puts San Diego on Hollywood's radar
San Diego may never be Hollywood (we're fine with owning technology and innovation), but a few features have put the region on the map. The year started with 'Inocente', a story about a homeless San Diego teen, becoming the first Kickstarter backed movie to win an Oscar. Fans turned to Kickstarter again to fund a film version of 'Veronica Mars,' a series that chronicles the life of a teenage San Diego detective. The trailer premiered at Comic-con in July. Although San Diego's favorite fictional news team may not have been backed by Kickstarter, with the release of Anchorman 2, the phrase "Stay Classy, San Diego" worked its way back into lexicon this year.

 

 

 

Intellect leads innovation economy
San Diego's top tier universities are essential for priming a talented workforce that helps push the economy forward. When President Obama announced his BRAIN initiative in April, UC San Diego Chancellor Pradeep K. Khosla. was invited to Washington. Given its strong cognitive sciences program, the university - which raked in more than $1 billion in research funding this past year - will be one of the academic institutions leading the charge. Cal State San Marcos welcomed its biggest class and held true to its 'vet' friendly reputation.  San Diego State University found itself among the nation's highest ranked universities in terms of affordability and ROI, which may be one of the reasons it recently announced a record number of applicants for 2014. Point Loma Nazarene has been identified as one of the best value private colleges in the U.S. University of San Diego's part time MBA programs broke the Top 20 on BusinessWeek's list. Online education pioneer Ashford University partnered with Forbes to create cutting-edge materials for its Forbes School of Business. National University, a leader in policy research, has partnered with EDC and other regional organizations on studies to quantify the sports and active lifestyle and cybersecurity clusters. 

Construction on desalination project begins

Construction on the largest desalination plant in the western hemisphere began in early 2013. The construction of the plant will provide more than 2,300 jobs and will sustain 575 jobs when it is completed in 2016. Not only does the Carlsbad facility employ ground-breaking local technologies, but it also promises to transform about 50 million gallons of seawater into drinking water each day, which will meet 7 to 10 percent of San Diego’s water needs.

 

 

 

Brookings lays framework for global competitiveness strategy
Last fall, San Diego was selected as one of eight U.S. cities to participate in the Brookings Metropolitan Exchange Initiative, a project that helps regions implement customized export plans. In May, a collaborative made up of representatives from the Port of San Diego, San Diego Regional Airport Authority, UC San Diego, JP Morgan Chase and others came together to release a market assessment, the first phase in delivering a plan. Since then, working groups have been addressing infrastructure, talent, small and medium-sized enterprises, and market diversity to come up with a plan to boost the region's exports. The collaborative will release the final export plan - which will help with the region's overall global competitiveness strategy - in early 2014.

Craft Beer powers regional economy
Look out Munich, we're nipping at your heels. The San Diego region, which is home to more than 70 craft breweries, is commanding a growing percent of the nation's craft beer production. The region embraced its craft beer culture, with places like the Airport integrating beer into in the region's identity. From Men's Journal to The New York Times, people worldwide are also catching wind of breweries such as Stone, Ballast Point, Karl Strauss. This year, the industry hosted its first "SD Craft Beer Hospitality and Tourism Summit" to talk about how San Diego can propel its image as a premier craft beer destination forward. 

 

 

November 7, 2013

California group photo with Sec. of Commerce Pritzker

EDC recently joined a delegation of nine California organizations, organized by the California Governor’s Office of Business and Economic Development (GO-Biz), at the inaugural SelectUSA  Investment Summit in Washington D.C. The goal was to promote the golden state as the prime spot for international trade and investment. Hosted by the Department of Commerce, the summit connected top-level corporate executives and investors from the U.S., and around the globe, with the nation’s economic development organizations at the state, regional, and local levels.

Despite the federal government shutdown a few weeks prior, it was business as usual in the nation’s capital.  “The United States is open for business,” President Obama told a sold-out room at the conference. 

The two-day conference welcomed more than 1,000 attendees from nearly 60 international markets and 47 U.S. states, three U.S. territories, and the District of Columbia. Featured speakers, in addition to the President, included Secretary of Commerce Penny Pritzker, Secretary of State John Kerry, Bill Simon (President and CEO of Walmart U.S.), Parker Harris (Co-Founder of Salesforce.com), and Ludwig Willisch (CEO of BMW North America).  The summit also featured more than 70 high-level speakers covering topics such as workforce development, public-private partnerships through infrastructure investments and exports.

Why is foreign direct investment (FDI) important?  Direct investment in the United States – from foreign or domestic firms – is a critical factor in economic growth and job creation.  In 2012 alone, the U.S. attracted more than $160 billion in foreign direct investment (FDI), making us the world’s top destination for FDI.  In 2011, foreign-owned companies in the U.S.  were responsible for employing 5.6 million U.S. workers. 

Where does California stack up in comparison to other U.S. states?  In April of this year, California Governor Jerry Brown announced more than $1.8 billion in deals making the state number one for attracting FDI.  Foreign-owned companies account for more than 700,000 jobs in the state.

At the conference, President Obama  announced the first-ever comprehensive effort led by the federal government to attract job-creating foreign investment to the U.S. through the expansion and enhancement of the SelectUSA initiative. The initiative seeks to grow FDI as the nation emerges from the recession and becomes an increasingly competitive location for attracting investment due to rising productivity, abundant low-cost energy and rising costs elsewhere.  With the announcement,  regions like San Diego can expect a smart FDI strategy that integrates export promotions, workforce development, innovation cluster creation and land use planning.   Such a strategy will reap the many benefits of international trade and investment—including new better paying jobs, new tax revenues, knowledge spillover and global connectivity. 

What does this mean for San Diego?  San Diego’s active role in    the State of California’s collaborative and coordinated investment promotion efforts is needed to engage and attract future investors;  our partnership with the Brookings Institution on the Metropolitan Export Initiative will create a regional export strategy that will boost the local economy and create jobs; and our ongoing involvement with the Global Cities Initiative to spur and strengthen regional global engagement puts San Diego on track for creating a blueprint for  global competitiveness.


posted by Daichi Pantaleon

November 1, 2013

101 San Diego Companies made Inc 5000 list of fastest growing companies

Earlier this week, Inc. magazine released its annual Inc. 5000 list of fastest growing companies. More than 100 companies in San Diego metro made the list, including four EDC Investors: SKLZ,Sentek GlobalD&K Engineering and VAVi Sport and Social Club. Other prominent San Diego region businesses made the list, such as Stone Brewing and Quality Controlled Manufacturing, who recently participated in San Diego Manufacturing Day with EDC and other regional partners. 

The Inc. 5000 list ranks companies by revenue growth from 2009 through 2012 for companies that are U.S.-based, privately-held, for profit, and independent with 2012 revenues greater than $2 million. The 101 San Diego companies on the list totaled more than $1.75 billion in annual revenue in 2012. Among all US metros, San Diego had the 13th most companies on the list. 

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 percent of this year's Inc 5000  list.

Click here to see the full Inc. 5000 list. Click here to see the full list of San Diego metro businesses.

October 31, 2013

NACIC 2013 panel image

Earlier this week the San Diego Regional Chamber of Commerce and The Mexico Business Center hosted the North American Competitiveness and Innovation Conference (NACIC). The conference focused on cross border trade and business opportunities between the U.S., Mexico and Canada. 
 
One of the most popular panels focused on developing workforce talent and was moderated by EDC’s CEO Mark Cafferty. The panelists were Bill Bold, sr. vice president of QUALCOMM, Lauren Friese, CEO and founder of TalentEgg from Ontario, Canada and Rafael Sostmann, professor of practice for education innovation and special advisor to the president of Arizona State University.
 
Mark opened the session by explaining that San Diego Regional EDC’s attraction efforts focus on corporate executives and talent, specifically young people just graduating from universities. He said competitiveness for North America is about talent and asked the panel: “How we develop the workforce of the future?”
 
Rafael, an engineer by training, is also the former president of Mexico’s largest private, nonprofit educational system, Tecnológico de Monterrey. He suggested that industry linkages with universities are critical. At ASU, student startups are supported through on campus incubators and on campus industrial parks leased to businesses.
 
Lauren explained that she started her company, an online tool that connects young talent with job opportunities, after she finished graduate school in London. She discovered that linkages between students and industries were much stronger in the United Kingdom than in Canada. Inspired by the tools she saw working in the UK, she replicated the networking platform through TalentEgg. She suggested that too often employers only want to hire young people with “the right” degree, when there are plenty of people who can be trained for just about any career. 
 
Bill spoke about the investments and partnerships QUALCOMM has with students and universities to grow its future workforce. As a world leader in mobile communications and computing technologies, QUALCOMM licenses its innovations to smart phone manufacturers. QUALCOMM is also the world’s largest producer or semiconductors. Of its 31,000 employees worldwide, 81 percent have a degree in a STEM field. The mobile giant is dependent on international markets; While 92 percent of the company's revenues are earned outside the U.S 67 percent of its workforce is in San Diego because they care about hiring locally. Bill said Qualcomm is intense about recruiting – pursuing only the top one percent of graduates from the top five percent of universities – likening it to college football recruiting. Last year Qualcomm had 1,100 paid interns, of whom 300 got offered full time jobs, and 250 accepted. The company recently invested $20 million in a new engineering center at Berkeley to build a cutting-edge program blending art, architecture and engineering. 
 
Responding to a question from the audience about the best ways to prepare young people for careers, the panel pointed to the German apprentice-style model. Germany’s vocational education system pairs classroom studies with on-the-job learning. Students apply for a specific apprenticeship at a company. For two to three years they spend a few days a week at a work site, getting paid a stipend from their employer, and one to two days a week in a classroom learning theory. They graduate with a certificate that signifies they know all the basics to begin working professionally in their fields. Not only are the certificates standardized throughout Germany,  but they are also well-respected and often a necessary requirement for jobs. Companies like Siemens have brought the work experience aspects of the program to the U.S. offering students here similar opportunities. 
 
If San Diego wants to maintain its share of talent, it would be in our best interest to explore similar programs. 
 
October 21, 2013

Illustrating some of the dynamic uses for unmanned system.

Illustrating some of the dynamic uses for unmanned system. Clockwise from top left: Drone used for newspaper delivery (The Atlantic), prepping a wildfire- fighting drone for launch (The New York Times), simulation of a lifeguard/lifesaving drone (AUVSI), agricultural drone used for weed control (3dRobotics/ Diydrones.com) 

If you stopped 100 people on the street and asked them to name a technology in the past 20 years that has changed the world, it’s safe to assume that the internet would be a top choice. Yet if you ask people about the origins of the internet, many would have to pause for a second to think. In the 1950s, the internet was developed as a tool for military communication. It wasn’t until the mid-90s that the internet was adopted and commercialized for broader use. 
 
San Diego is used to seeing military innovations adopted for commercial use. In fact, many of the region’s largest and most well-known companies – including Qualcomm – were born out of military innovation. 
 
Now, a new technology is being developed for commercial use and San Diego, with its strong military history, trained talent, and diverse terrain, has a decent chance of playing a big role in something that has already began to revolutionize the world. 
 
Unmanned Systems – or drones as they’re often called – have uses ranging from agricultural production to disaster monitoring and wildfire fighting.  
 
A jobs generator 
 
Recognizing the importance of unmanned systems, the FAA has issued a call to establish six test sites across the country, with a goal of working to integrate this technology safely into our airspace.  A recent study from the Association of Unmanned Vehicle Systems International found that California was poised to gain 18,161 jobs if they created a test site- more than any other U.S. state. This does not even take into account the impact of non-aerial unmanned systems for marine and farming use, which will help create even more jobs. The industry would pump approximately $90 billion into the economy in the next decade, generating an estimated $70 million in tax revenue. 
 
In partnership with San Diego Military Advisory Council, EDC and other San Diego partners joined the CAL UAS portal. The proposed testing site would start at the U.S./Mexico border and run from Bridgeport to the North and to the Arizona/Nevada border to the East. The regulations do not allow testing within a 30-mile radius of installations including Lindbergh Field and McClellan-Palomar Airport, meaning most of San Diego’s metro airspace will not be included in testing ranges.
 
San Diego is at a significant advantage. Not only do we have one of the most diverse testing sites in the U.S., but we also have a strong private sector that would help support a testing site. Companies such as 3Drobotics, Northrop Grumman, General Atomics and 5d robotics provide a well-qualified talent pool to help the sector thrive. 
 
Maybe 10 years from now, if we ask people about a technology that has profoundly impacted society, unmanned systems will float to the top of the list. Our hope is that when it does, San Diego is thought of as a leader in this field.
 

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October 15, 2013

Economic snapshot graph

EDC’s economic snapshot shows that San Diego’s economy is gaining steam. From April 2013 to July 2013, the San Diego region added 13,000 private sector jobs. Although the metro’s unemployment rate still stands slightly above the national average, San Diego experienced one of the largest year-over-year declines in the U.S. from July 2012 to July 2013. Only four major U.S. metros – Seattle, Tampa, Detroit and Riverside - experienced a greater decline over that period.

Here’s how the numbers in the snapshot broke down:

  •  Private businesses added approximately 13,000 jobs in the quarter. Hospitality and tourism added the highest number of jobs this quarter, with 7,600. Construction industry added 4,100 jobs in the quarter, which is likely due to many major construction projects ramping up in the summer season. With the recently-approved expansion of the San Diego Convention Center (not included in these numbers), the region will add nearly 7,000 hospitality and tourism jobs and 3,000 construction jobs in a future quarter.
  •  This quarter, the snapshot took a closer look at the Sports and Active Lifestyle industry, based on a report that was recently released. With companies including Taylormade, Sector 9 and other well-known products, San Diego is a designated leader in this important sector. The report found that the industry’s economic impact is equivalent to hosting four Super Bowls annually.
  • San Diego’s foreclosure rate remained lower than the U.S. average in July2013, with only 2.31 out of every 10,000 homes foreclosed during that month
  • All major metros nationwide experienced positive growth in home prices over the quarter and the year, a symptom of the resurging US real estate market. From Q1 2013 to Q22013, home prices grew about 13.7 percent  in the San Diego region.

The quarterly snapshot reports on key economic metrics that are important to understanding the regional economy and San Diego's standing relative to other major metropolitan areas in the U.S. The snapshot only reported on data through Q2 2013. Amidst the current government shutdown, we can only hope that there’s data next quarter to produce a new snapshot.

You can find the complete snapshot here.


The economic snapshot was made possible by Chase Chase Logo