Good News of the Week – January 3, 2020

Every Friday, ‘Good News of the Week’ features a curation of positive headlines from San Diego, delivered straight to your inbox.  A blend of aggregated stories from San Diego’s most trusted news sources and original EDC-created content, GNOTW provides a comprehensive recap of the region’s best stories from the past week.

For the week of January 3, 2020, here’s a look at what we’re reading:

CNBC power cities index_San Diego

…and, your input is requested: 

  • In collaboration with EDC and the City of San Diego, UC San Diego Extension is conducting a survey to gain a comprehensive understanding of the Creative Economy in San Diego County. Please complete this short survey.

 

Be in the know – Sign up below to receive future editions of GNOTW.
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Good News of 2019

A look at San Diego’s top headlines…

As we close out the year (and decade!) in San Diego, we want to take a moment to highlight some of the ‘good news’ about our region’s companies, leaders, institutions, and more. Keep reading below for a recap of this year’s top stories, and check out the full edition here.

Here’s to creating a more prosperous San Diego in the next decade.
-Team EDC

Together, San Diego leaders work to create a more inclusive regional economy
While the growth of our innovation economy has created tremendous opportunities, it has also perpetuated systemic inequities within our region. This year, we saw more companies, elected officials, and organizations make an active effort to build a more inclusive SD.

Local colleges add new programs, receive national accolades and funding
The region’s higher education system is integral for building a quality talent. This year, we saw more universities and colleges lean in to support a regional goal of 20,000 new skilled workers by 2030, while also earning recognition for new programs and accomplishments.

A great year for San Diego’s tech pioneer
Things are looking good for Qualcomm. This year, the tech giant took the no. 1 spot on Fortune’s Change the World List for connecting us all and bringing 5G to the globe. As part of its legal settlement, Qualcomm signed a six-year licensing deal with Apple. Following the announcement, Qualcomm stocks climbed 20 percent, marking the stock’s best day since 1999.

San Diego companies earn nearly $2 billion in VC funding
In 2019, San Diego saw 99 VC deals totaling nearly $2 billion (up to Q3). Majority of the VC transactions were concentrated in our local life sciences and healthcare sector, garnering $819 million in funds via 37 deals, followed by the tech sector with 27 deals. Since 1995, healthcare has consistently drawn the bulk of VC dollars into the region.

Global companies, startups and ‘unicorns’ make moves to San Diego
While the majority of our economic growth is going to come from companies already in the region, it’s always a good sign when firms relocate or open a new office in San Diego. This year, we saw some new names establish strongholds in the region, as well as existing companies, double-down on their presence.

San Diego tops national charts
2019 proved that San Diego was no stranger to some of the most coveted national rankings. From our vibrant startup ecosystem to our award-winning airport, high-level publications and organizations recognized what makes San Diego truly life-changing.

CONNECT joins forces with San Diego Venture Group
Two regional powerhouses with similar missions – to propel early-stage startups in San Diego – joined forces. This move brought forth a more resourceful, unified entity within San Diego, utilizing CONNECT’s reputation for supporting small, emerging tech companies mixed with SDVG’s impressive connections to VC investors.

San Diego welcomes new regional leaders
This year, influential organizations throughout the region brought on new leaders to spearhead their efforts.

San Diego celebrates 250 years!
In July 2019, City of San Diego Mayor Kevin Faulconer and a group of representatives from the Kumeyaay nation gathered for a ceremony honoring San Diego’s 250th anniversary. The event took place at Old Town’s Presidio Park, marking the birthplace of San Diego and also commemorating the location where California began.

San Diego Integration Pilot Program (IPP) hits new milestones
San Diego is currently one of 10 state, local, and tribal governments to participate in the Integration Pilot Program, which allows our region to be at the forefront of an industry that is expected to reach a $43 billion market value by 2024. This year, the program – managed by EDC in collaboration with the City of San Diego – achieved new milestones.

Read all the Good News of 2019

How MetroConnect helped one local company create $5M+ in sales

EDDY Pump is not your typical family business. When Ben Weinrib took over as CEO in early 2019, he committed to elevating his father’s technology and getting it into as many hands as possible.

The making of EDDY Pump

EDDY Pump creates slurry pumps across several industries, including oil, mining, and energy. Take the mining industry, for example. Pumps are a crucial part of the mining process, yet they often fall prey to a myriad of problems including clogging, overheating, and more. Using propriety technology to harness the power of the Eddy current – a special closed loop electrical current – the San Diego-based company creates a unique, best-in-class product.

A San Diego success story

In order to succeed in a field where many of the opportunities exist overseas, =the San Diego-based company needed to effectively target and sell to global customers. That’s where MetroConnect comes in.

MetroConnect is World Trade Center San Diego’s(WTCSD) export assistance program. Since 2014, WTCSD has provided at least 15 companies annual with resources and the financial assistance they need to conquer global markets.

During its tenure in the MetroConnect program, EDDY Pump started raking in the international business. From a $2M contract with Barrick Gold Corporation – the world’s second largest mining company – to a deal with the Chilean Navy, EDDY Pump proved with the right resources and support, it could take its business to the next level.

The company’s global success did not go unnoticed. In November, EDDY Pump was crowned the MetroConnect Grand Prize Pitch winner. Along with bragging rights, the EDDY Pump team took home 35k in additional funding.

Interested in taking your company global?

Applications for MetroConnect are now open until January 31. Learn more about the requirements and benefits.

Apply today

 

Related EDC articles and research: 

 

 

2019 in Review: Top 10 wins for EDC

With and through our nearly 200 investors, EDC works to maximize San Diego’s economic prosperity and global competitiveness. This year, we helped companies grow, looked to new corners of our community for high-quality talent, and developed programs and initiatives to create a stronger region.

Through it all, EDC impacted 5,228 jobs and worked on 179 projects – supported by companies, investors, community partners, and more – on behalf of San Diego’s economy. While our work spans multiple industries and organizations, with various programs and goals, there’s an universal thread that ties it all together: build a more inclusive economy that benefits all San Diegans.

As we close out 2019 and another successful decade, let us recap our top 10 wins for San Diego…

  1. San Diego: Life. Changing.’s Just Say No to Winter campaign received national attention

Going into its fourth year, SD: Life. Changing. is our award-winning campaign that aims to attract and retain talent for our region. We kicked off 2019 with Just Say No to Winter, a transit and social media campaign that targeted STEM talent in Boston, Chicago, and New York during the peak of winter with information about career opportunities in San Diego. Thanks to this go-viral marketing push – and coverage in The New York Times, the nationally-syndicated program “The List,” and more – we saw 34X the ROI, 2.6 million social media impressions, and 36K video views.

  1. EDC received its largest grant in history, catalyzing Advancing San Diego

San Diego was one of five cities to receive a $3 million investment as part of JPMorgan Chase’s AdvancingCities Challenge, an initiative to drive inclusive growth and create greater economic opportunity across the U.S. This funding allowed EDC to form Advancing San Diego, which aims to cultivate a more inclusive economy by addressing regional talent shortages and strengthening relationships between businesses and education systems. The newly minted program is now contributing toward our Inclusive Growth regional goal of 20,000 skilled workers (degree or credential holders) in San Diego County by 2030.

  1. World Trade Center SD’s MetroConnect export assistance program had its best year yet

Made possible through a grant from JPMorgan Chase & Co., MetroConnect provides small- and medium-sized companies with the resources necessary to expand into global markets. During the 2018-19 program, companies in MetroConnect IV collectively generated a net increase of $69.6 million in export sales, signed 369 international contracts, and opened 10 new facilities overseas. Together, the 20 participating companies also created more than 100 jobs in San Diego – evidence that exporting supports the increase of jobs locally.

And, you’re in luck – Applications are now open for the 2020 cohortMetorConnect V. Learn more and apply today (or pass it on to a business that might benefit).

  1. EDC fostered 3 regional goals for a more #inclusiveSD

While the growth of our innovation economy has created tremendous opportunity, it has also perpetuated systemic inequities. 2019 was all about elevating an inclusive economic development strategy – the lens in which EDC views all of its work – so that economic growth is seen and felt among the entire region. In order to effectively do this, EDC’s employer-led Inclusive Growth Steering Committee supported actionable recommendations and measurable targets for creating a San Diego that benefits all residents. By 2030:

Inclusive Growth goals

  1. With support from EDC, Cubic Corporation secured $8.5M in tax credits & broke ground on its new HQ

Cubic Corporation is a global company with clients on nearly every continent, yet it has called San Diego’s Kearny Mesa community home for 50 years. With assistance from EDC, Cubic secured a CalCompetes Tax Credit worth $8.5 million. This tax incentive allowed Cubic to break ground on its new San Diego HQ campus, and further reaffirm its investment to the region in the decades that follow. Here are a few words from Cubic Corporation on the support EDC provided:

“Since our founding in 1951, we have established strong roots in the San Diego community and it was very important for us to remain headquartered here. The San Diego Regional EDC was an integral resource for our redevelopment. They were able to strategically bring key partners together and secure incentives that best positioned us to redevelop our headquarters in the Kearny Mesa area.” – Anshooman Aga, executive vice president and CFO at Cubic Corporation

  1. EDC managed San Diego’s Integration Pilot Program (IPP), propelling 1,150+ successful missions

From monitoring coastal erosion to fighting wildfires, drones offer enormous social and environmental benefits. San Diego is currently one of 10 state, local, and tribal governments to participate in the Integration Pilot Program, which has allowed our region to be at the forefront of an industry that is expected to reach a $43 billion market value by 2024.

This year, the program – managed by EDC in collaboration with the City of San Diego – achieved new milestones. Giving way for Uber Eats to soon deliver burgers and Chula Vista Police Department to send first responders via drones, IPP completed 1,150+ unmanned aircraft systems (UAS) missions.

  1. EDC produced 24 reports to help residents and businesses better understand San Diego’s economy

EDC provides research and data to local companies, site selectors, and civic leaders to help them make well-informed decisions about our economy. From monthly reports (and videos) that chart key economic indictors to customized economic impact reports for companies, EDC’s research helped the regional stakeholders better understand this place we call home.

 San Diego's Economic Pulse

  1. Innovate78 amplified its reach along the 78 Corridor, convening more than 500+ individuals

With companies like Viasat, Thermo Fisher Scientific, and a plethora of award-winning craft breweries, the 78 Corridor is hub for innovation. Thanks to the region’s Innovate78 program, managed in collaboration with EDC and the cities of Carlsbad, Escondido, Oceanside, San Marcos, Vista, more than 500 stakeholders (think: entrepreneurs, high-quality talent, startups, etc.) attended events held in North San Diego County.

  1. World Trade Center San Diego strengthened ties with BMW, IBM, and Siemens during Germany Trade Mission

The introduction of non-stop San Diego-Frankfurt service aboard Lufthansa and a shift in economic power resulting from Brexit meant that Germany was becoming an increasingly important trade and investment partner for San Diego…and WTCSD wanted to be out in front of it. WTCSD pulled together more than 20 San Diego-based business and civic leaders to participate in a four day trade mission to Munich and Frankfurt, Germany.

International partnerships take time, but based on initial meetings on the trade mission, San Diego has planted the seed for long-term relationships with major companies, including BMW, IBM, Siemens, Daimler, and more.

  1. …and, finally, EDC launched a new website

With support from investors and partners, we launched a new sandiegobusiness.org. Here, you’ll find detailed information on EDC programs & initiatives, how we work with companies, as well as information about the brands we manage, including World Trade Center San Diego, SD: Life. Changing., and Innovate78. The website is designed to be viewable on any device, so San Diego is always showcasing its best self.

Laptop displaying EDC website

Here’s to our nearly 200 investors for their unwavering support in creating a prosperous San Diego for the next decade.

 

Interested in supporting our work? Join us.

Invest in EDC

 

Good News of the Week – December 13, 2019

Every Friday, ‘Good News of the Week’ features a curation of positive headlines from San Diego, delivered straight to your inbox.  A blend of aggregated stories from San Diego’s most trusted news sources and original EDC-created content, GNOTW provides a comprehensive recap of the region’s best stories from the past week.

For the week of December 13, 2019, here’s a look at what we’re reading:

…and, your input is requested: 

  • In collaboration with EDC and the City of San Diego, UC San Diego Extension is conducting a survey to gain a comprehensive understanding of the Creative Economy in San Diego County. Please complete this short survey.

 

Be in the know – Sign up below to receive future editions of GNOTW.
Want to submit your event or news update to our weekly newsletter? Contact us for more information

CSUSM recognized as leader in social mobility

4 graduates in cap in gown from CSUSM looking at the camera

Since its founding in 1989, Cal State San Marcos (CSUSM) has put its commitment to social mobility at the forefront of its educational mission. The university’s dedication to economic opportunity was recognized this week when it was named among the nation’s leaders in social mobility.

The Social Mobility Index

CSUSM ranks 36th nationally out of almost 1,500 schools measured in the sixth annual Social Mobility Index (SMI) by CollegeNET.

The SMI focuses directly on the factors that enable economic mobility. The index is computed from five variables: published tuition, percentage of students whose families have incomes below $48,000 (slightly below the U.S. median), graduation rate, median salary approximately five years after graduation, and endowment size.

“Nationally, higher education is often called out for reinforcing inequality rather than closing socioeconomic gaps,” said EDC Board Member and CSUSM President Ellen Neufeldt “However, our rising SMI ranking embodies our collective efforts to serve any student who dreams of the opportunities that come with a college education as we help them reach their full potential.”

CSUSM improved its ranking in the SMI for the fourth consecutive year. The university ranked 74th in 2015, 62nd in 2016, 54th in 2017, and 52nd last year.

How CSUSM is creating a more inclusive San Diego

As EDC looks to create a more inclusive San Diego, CSUSM and other regional educational institutions are playing a pioneering role in San Diego’s strategy. Afterall, CSUSM is a crucial part of creating a sustainable talent pipeline. Nearly 80 percent of its graduates remain in the region following graduation. In 2018, the university opened its engineering program, creating a technical talent pipeline for companies such as Viasat and emerging regional startups.

CSUSM is trying to correct systematic inequities in that are often ever-present in the educational system. More than half (54 percent) of its graduates are first-generation bachelor’s degree recipients. Additionally, nearly half of its students qualify for Federal Pell Grants. In order to support students from all backgrounds, the university offers community-based learning opportunities, internships, undergraduate research opportunities and more to ensure student success.

Help us create a more inclusive San Diego.

Learn more about EDC’s Inclusive growth work

Related EDC articles and research: 

Data Science Trek brings together 65 aspiring professionals from colleges across the region

Data Science Trek Group Photo

In November, EDC hosted a ‘Data Science Trek,’ which brought together 65 aspiring data scientists from colleges and universities across the region. Throughout the day, students from MiraCosta College, UCSD, SDSU, USD, and Alliant International University toured Booz Allen Hamilton, Walmart Labs, and Intuit and engaged in panel discussions with local data science professionals.

With the emergence of big data and growing need to analyze a high volume of information that is collected at every second, Data Science is a rapidly growing field across the globe. Companies require highly skilled talent to process the information, which helps inform business decisions, improve efficiency, and understand the precise requirements of customers, among other applications.

Trek participants got a firsthand look at how their classroom learning will translate into the workplace. For many, this event marked a ‘first’ for meeting with professionals, learning about day-to-day workflow, and visualizing themselves as data scientists in San Diego.

Among the slew of exciting projects presented, Walmart Labs described how they are using in-store robotics via shelf-scanning robots to improve quality assurance. Whether it’s a stock-out, missing label, or inaccurate price, this technology is helping maximize an associate’s time and improving customer service.

Booz Allen Hamilton previewed its new artificial intelligence platform called ‘Modzy,’ which will give customers access to a revolutionary marketplace of pre-trained AI models from leading machine-learning companies. As they group learned about these cutting-edge projects, one participant said, “Data Science is not just a buzz word. Data Scientists solve real and interesting problems!”

Following the Trek, 95 percent of surveyed participants felt more informed about opportunities in the local data science industry. Also encouraging, 97 percent of the group stated that they do intend on pursuing a career in the San Diego region. As one of three companies showcased from the region, the three employers had an opportunity to meet with students from the local STEM talent pool and be proactive in the recruitment process.

From Booz Allen Hamilton’s blend of strong corporate culture mixed with young, collaborative data science team, to Walmart Labs’ tech startup vibe, and also Intuit’s cutting-edge tech campus, each company showcased its unique workplace setting. This gave students a chance to see the wide array of work environments that are available in San Diego, while better realizing their own workplace preferences.

The Trek Series represents a larger regional effort, led by San Diego Regional EDC, promoting careers in San Diego by connecting students to various industries. For students engaged in this program, we are confident they will choose San Diego as their career destination. Hear about it firsthand from the participants:

“This experience was overall very insightful and lots of fun, and I’d recommend it to anyone looking to stoke their curiosity and get expert advice on data science in San Diego.” —Isabella Messina, Bachelor’s student (B.S. Computer Science), San Diego State University

“One of the most impactful experiences I have had…and have taken away a lot with regards to the kind of personal progress that I will need to forge a successful career in the coming years.” —Ashok Anand B, Master’s student (M.S. Big Data Analytics), San Diego State University

“Waiting for hours to speak with a representative and shouting over the background noise at career fairs is definitely no competition to the Data Science Trek.” —Levan Badzgaradze, Master’s student (M.S. Computer Science), San Diego State University

Data Science Trek - Lecture

Are you a San Diego company looking to attract talent? We’re here to help.

Get in touch

 

Northrop Grumman pilots new student talent pipeline program in San Diego

Inspired by the newly-minted Advancing San Diego initiative and the company’s involvement with EDC’s Inclusive Growth Steering Committee, Northrop Grumman Corporation launched a new talent pipeline program in San Diego that provides community college STEM students with paid, work-based learning opportunities and a pathway to qualification for careers in the aerospace and defense industries.

 

Since the program’s inception earlier this year, Northrop Grumman has partnered with MiraCosta College and Palomar College for the pilot phase of the program during the 2019-2020 school year and is exploring additional partnerships through the San Diego & Imperial Counties Community College Association (SDICCCA) for the 2020-2021 school year.

Establishing a framework to collaborate with education systems is necessary for building a strong local talent pipeline and supports a long-term workforce planning strategy,” said Alfredo Ramirez, vice president, engineering, Northrop Grumman. “Our decision to develop a community college pilot fills a critical gap bridging K-12 and university programming, allowing us to reach and engage students in San Diego throughout their education journey.”

Check out the video below to see how Northrop Grumman’s program is building a better regional economy that benefits all San Diegans and directly supporting the goals set forth by EDC’s Inclusive Growth Steering Committee.

Looking to start your own talent pipeline program?

Learn more about advancing san diego

Workshop Recap: State and Local Resources for Small Business Defense Contractors

In collaboration with the Governor’s Office of Business and Economic Development (GO-Biz), EDC hosted a complimentary workshop for small business working directly with the defense industry. Attendees learned about state and local resources that are available to help their businesses grow. Below is additional material to learn about incentives, resources, and programs that help with commercialization, international expansion, and business growth in the San Diego and California regions.

The featured presenters included business experts from San Diego Regional EDC, East County EDC, World Trade Center San Diego, City of San Diego, and SBDC. The event is supported by NDIA, SDMAC, SBDC and East County EDC and is funded in part through the Governor’s Office of Business and Economic Development’s CASCADE Program.

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Good News of the Week – November 22, 2019

Every Friday, ‘Good News of the Week’ features a curation of positive headlines from San Diego, delivered straight to your inbox.  A blend of aggregated stories from San Diego’s most trusted news sources and original EDC-created content, GNOTW provides a comprehensive recap of the region’s best stories from the past week.

For the week of November 22, 2019, here’s a look at what we’re reading:

Chula Vista

…and, the upcoming events we’re attending:

 

Be in the know – Sign up below to receive future editions of GNOTW.
Want to submit your event or news update to our weekly newsletter? Contact us for more information

Nickie Peña
Nickie Peña

Manager, Communications