Monthly Report

March 2021

A note from Mark…

One year ago, almost to the day, we decided to move our EDC board meeting online and announced to our team members that we would be closing the office for a few weeks. We decided to cancel all in-person meetings and events as well. Little did any of us know then how the next 12 months would unfold. The past year has been difficult on everyone in immeasurable ways. To try to recap any of it would almost cheapen the challenges, loss, successes, struggles, triumphs, and trials that so many have gone through. Yet through it all, we continue to draw inspiration from those who have been on the frontlines, supply lines, and everywhere else where citizens and workers have stepped in to do their jobs to ensure the safety and stability of those around them. This economic recovery we find ourselves in will be long, challenging, and at times, heartbreaking. But it will also make us stronger, more resilient, and more mindful of our connectedness to each other. Read more.

By the numbers

$2.7B

VC investment in San Diego’s healthcare industry in Q4 2020

121

Businesses Assisted year-to-date

7.7K

Jobs Impacted* year-to-date

$18B

North County manufacturing economic impact

* “Jobs Impacted” is derived from self-reported numbers associated with those businesses EDC has assisted year-to-date.

Study release: North County’s manufacturing industry

Last month, Innovate78 released a new report, which finds the industry will continue to prove its resiliency and positive economic impact in the region—even amid trends in automation, globalization, and COVID-19 ramifications. According to the study, manufacturing accounts for $18 billion annually (or seven percent) of the area’s economy, and while many of the 813 local manufacturing firms were impacted by coronavirus, 58 percent of survey respondents are looking to increase their space. Learn more.

Black History Month: Elevating San Diego’s Black businesses and innovators

Black History Month is one of many opportunities to spotlight the Black founders, innovators, creators, and businesses throughout the San Diego region – and across the country at large. This particular year feels especially critical, as we’ve watched current and historic racial inequality broadcast in our communities and across our TV screens, and as COVID-19 has disproportionately impacted communities of color here in San Diego. To learn more about Black-owned businesses and ongoing inclusion efforts across the San Diego region, go here.

With and through our nearly 200 investors, we are creating a stronger San Diego.

February renewals:

Carrier Johnson