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October 28, 2016

In an age of rapidly evolving technology, it’s becoming increasingly pertinent for companies to defend themselves against cyber attacks. The cybersecurity sector seeks out the brightest minds to stay one step ahead of hackers who threaten security of  some of the biggest U.S. companies like Netflix, Twitter, Spotify and Amazon. Experts predicted one million cyber job openings worldwide in 2016. This burgeoning market for cyber professionals saw 74 percent growth in the last 5 years with expected growth of 13 percent in San Diego alone between 2016 and 2017. Big players in cybersecurity call San Diego home including SPAWAR, ViaSat, ESET, Northrop Grumman, Sentek Global and General Atomics, to name a few.

EDC's Link2 San Diego program seeks to retain the region's new grads by introducing them to industry leaders and lucrative job opportunities within some of the region's fastest growing sectors. By partnering with local universities, students have a chance to interact one-on-one with top executives they may not otherwise meet. Our fall 2016 Link2 series kicked off with Link2Tech at CSU San Marcos and Cuyamaca College this September. Now, in recognition of National Cyber Security Awareness month, we brought Link2Cyber to USD and SDSU.

Link2Cyber at USD was hosted in partnership with the university's new Center for Cyber Security Engineering and Technology (CCSET). The panel was moderated by Winnie Callahan, director of CCSET and featured representatives from the Cyber Center of Excellence, Sharp Healthcare, ESET, City of San Diego and SPAWAR. There were more than 60 college and high school students in attendance.

For Link2Cyber at SDSU, EDC partnered with the university's Department of Computer Science and its Computer Sciences Advisory Board in hosting 60 students and 20 industry representatives for a networking reception and panel discussion. During the panel, representatives from Sony, General Atomics, ViaSat, LP3 Security and Sentek Global spoke to current trends in cybersecurity and provided insight on how students can best prepare for jobs in cyber.

By showcasing the breadth and diversity of San Diego's top industries, EDC is working to retain and attract top tier talent in San Diego.

June 23, 2016

In 2012, then FBI Director Robert Mueller stood up at a cybersecurity conference and said, “There are two types of companies- those who have been hacked and those that will be.”

Whether you’re a Fortune 500 company, military contractor, genomics company or a neighborhood restaurant, cybersecurity has become ubiquitous for all businesses. According to Cybersecurity Ventures, an estimated $1 trillion will be spent on cybersecurity from 2017 to 2021. These global businesses may have San Diego – or rather one of its 100 plus cyber firms – to thank for that.

A new study released this week by San Diego Cyber Center of Excellence, with research by San Diego Regional EDC, provided additional insights on the impact of San Diego’s cyber economy.  In total, 104 core cyber firms employ 4,230 people in the region. SPAWAR, the Navy’s cybersecurity and R&D arm, employs an additional 3,390 in the cyber industry.

According to the study, San Diego’s cybersecurity industry generates more than $1.9 billion in GDP and impacts 16,580 jobs annually – equivalent to hosting four Super Bowls or 14 Comic-Cons each year – and has grown by more than 26 percent in just two years, since EDC’s last cyber study.

“San Diego is uniquely positioned to capitalize on the ever-growing global demand for cybersecurity products and security,” said San Diego Mayor Kevin Faulconer. “This study shows how the convergence of the innovation economy, education and research, and department of defense presence creates a fertile ecosystem for companies and talent.”

San Diego, with its strong concentration of military personnel, has a growing a base of software jobs and university specializations, which benefits from a rich pool of cybersecurity talent. It’s one of the reasons companies such as ESET and iboss have set up shop here. More than 51,000 technology specialists call San Diego home and work in a variety of cybersecurity-related occupations. Employers surveyed expect their cybersecurity workforce to grow by 13 percent in the next year compared to projected 2 percent overall regional job growth.  

Read the full study here.

November 30, 2012

Dr. Lynn Reaser recently delivered the Fermanian Business & Economic Institute Economic Outlook for 2013. With the election behind us but the fiscal cliff still looming, Reaser sided with many observers to predict that the fiscal cliff will either be avoided or – if it is allowed to happen – would not last longer than a few weeks. However, she pointed out that “if there is no political solution, there will be a market solution.” The government has been running annual deficits of more than a trillion dollars for the last four years and that is not sustainable.

Some highlights from the report:

California is currently outperforming the nation in job growth.
California’s economy continues to see job gains in construction, finance, professional and business services, trade, health care, and leisure and hospitality. The state should add about 275,000 new jobs in 2013, following the estimated 260,000 new jobs created in 2012.

In San Diego, job growth should yield a gain of about 29,000 jobs.
The growth will be driven by San Diego’s key economic drivers – the military, technology and tourism – and a revival in the housing market.

The military continues to be the most important economic driver in San Diego’s economy.
Although the region will not totally escape the impact of budget cuts – even under the best case scenario – the most likely outcome for 2013 is for defense dollars coming into the region to hold relatively steady. San Diego’s strengths fit very well with a defense strategy that is 60 percent focused on Asia and the Pacific with an emphasis on cyber security and unmanned aerial systems.

California State Controller John Chiang joined Reaser at the event. Chiang spoke about the challenges he has faced since coming into office in early 2007, including dealing with a cash deficit within seven months of taking over as State Controller. His focus is on determining a competitive tax structure to create a high standard of living while keeping California competitive as a location for business.