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The Big Picture San Diego Blog


Talent Attraction

July 17, 2018

EDC launched the San Diego: Life. Changing. campaign to attract talent and investment to San Diego by celebrating the smart and innovative people that call this place home.

Join us August 9 for a night of local food + drinks served up by celeb chef Brian Malarkey, campaign giveaways, and more to learn how we can take San Diego: Life. Changing. to the next level. We'll also hear a keynote from Dawn Barry, co-founder and president of Luna DNA, and Nate Wiger of Amazon. Stay tuned for word on another special guest..

Where: Farmer & the Seahorse | 10996 Torreyana Rd, San Diego, CA 92121 (one of the hippest spots in SD)
When: Thursday, August 9, 2018 | 5:00-8:30pm

January 14, 2016

Talent is the cornerstone of today’s global economy. It drives corporate location decisions, encourages innovative urban planning and inspires entrepreneurship. In essence, talent is the key to economic growth. If regions – such as San Diego – want to get ahead, they must have the workforce to compete.

Today, San Diego Regional EDC released “Talent: Where San Diego Stands,” a comprehensive study that contextualizes San Diego’s standing in talent growth and retention with regard to highly-skilled engineering, science and tech talent in nine peer metros including Austin, Denver and San Francisco. By analyzing key factors for firms and site selectors and comparing key characteristics that attract talent, San Diego can better understand how to maintain its competitive edge.

 

Among peer metros, San Diego ranks…
2nd – percent growth of degree-holding millennials  (age 25-34)
1st – concentration of scientific R&D firms and employment
3rd– wages in sciences and engineering jobs
1st – lowest average commute times
2nd – average annual pay for R&D employees at $176,000
3rd – total number of scientific R&D firms

 

When looking for a place to start or continue a career, talent is demanding change. Infrastructure and creative office design are becoming critical requirements. Innovative workspaces, lifestyle, competitive wages and economic opportunity matter. 

 

 

Thank you to our study sponsors iboss Cybersecurity and Kilroy Realty Corp. with additional support provided by CBRE. 

October 24, 2014

Across the globe, cities are forging a new kind of battle. They are competing for talent.

Metros understand that it’s talent, more than any other factor, that will drive business location decisions. If they want to grow their economy, they need to grow their talent pool first.

A new study from the City Observatory, “The Young and the Restless and the Nation’s Cities,” takes an in-depth look at the migration patterns of the young, educated millennial population (age 25-34) in cities since 2000. Young workers – especially those with bachelor’s degrees – are the most mobile subset of the American workforce. They are not just looking for any job; they are looking for a job in a city where they can envision building a life and a career.

The report reads, “We’ve witnessed an inversion of the classic recipe for economic development: it used to be that people moved to where the businesses were. Now, increasingly, it is businesses that look to expand in locations where there is an abundance of talent, especially young, well-educated workers.”

So the brings us to our next question – exactly where does San Diego stack up when it comes to its ability to attract talent? Here’s what the report tells us:

  • Between 2000 - 2010, there was a 91 percent increase in the number of 25-34 year olds that reside in close-in neighborhoods in San Diego. Close-in neighborhoods are defined as those within three miles of the center of the central business district of each metropolitan area.
  • San Diego saw disproportionately larger increases in well-educated young adults than the overall population. There was a 43 percent increase from 2002-2012 in terms of the number of 25-34 year olds that hold four-year degrees. To put it in comparison, the overall U.S. average grew by slightly more than 25 percent.
  • Cities and entrepreneurship go together. Venture capital investment appears to be increasingly flowing to startup firms located in urban settings. The urban share of venture capital in San Diego is above 80 percent.

The numbers speak for themselves: San Diego is doing well when it comes to attracting educated talent between the ages of 25-34. But we must not take this for granted. If the region wants to continue to be known for innovation, we must ensure we are attracting the right people to the region.

With the help of many partners, EDC currently has a multi-faceted global identity program underway to ensure that we continue to lead the pack in talent attraction and retention. This represents a shift in our previous marketing efforts, which were aimed at c-level decision makers.  We will be sharing more about the program in the coming weeks. For recent analysis from EDC, please see our July and October Quarterly Snapshots, which looked deeper into San Diego's comparative advantages and challenges in the talent race. 

We know that San Diego is a magnet for talent, investment and capital – our job now is making sure that message gets to the rest of the world.

Some media outlets including The New York Times have taken a closer look at the report.

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